VANCOUVER, BC, Feb. 24, 2021 /CNW/ -- Nickel Rock Resources
Inc. ("the Company" or "Nickel Rock") (TSXV: NICL)
(OTCQB: NIKLF) is pleased to announce that further to its news
release dated October 27, 2020, and
the TSX Venture Exchange's ("Exchange") conditional acceptance, the
Company has closed its Property Acquisition ("Fundamental
Transaction") whereby the Company entered into two Purchase and
Sale Agreements, both dated October 23,
2020 (the "Agreements") with J. Malcolm Bell (the "Vendor") for a 100%
interest, subject to a 2% NSR, in each of two nickel exploration
projects located in British Columbia,
Canada.
Pursuant to the terms of the Agreements, the Vendor received a
payment of $8,500 upon signing the
Agreements and the Company issued 5,000,000 common shares upon
Exchange Approval. The Company also issued 500,000 common
shares in connection with the Fundamental Acquisition. All
finder's fees are subject to Exchange approval.
All securities issued in connection with the Fundamental
Transaction are subject to a four–month and a day hold period
expiring on June 25, 2021 in
accordance with applicable Canadian Securities Laws.
Nickel Rock also announces that in connection with the
Fundamental Transaction the filing of a technical report entitled
"Technical Report for the Nickel Project, Omineca Mining
Division, Takla Lake Area,
British Columbia Canada", with
an effective date of January 21, 2021
(the "Report"). The Report has been prepared in accordance
with National Instrument 43-101 and can be found under the
Company's profile on SEDAR at www.sedar.com.
The Report can also be found on the Company's website at
www.nickelrockresources.com.
About Nickel Rock Resources Inc.
The Company is a Canadian-based mineral exploration company
active in the exploration for nickel-iron alloy in British Columbia and lithium in
Nevada. Nickel Rock Resources Inc. is a Canadian based
exploration company whose primary listing is on the TSX Venture
Exchange. The Company's maintains a focus on exploration for
high value battery metals required for the electric vehicle (EV)
market.
Nickel Projects
The Mount Sidney Williams Group consists of five claim blocks in
four groups with a total area of 6,125.32 hectares in the area
surrounding Mount Sidney Williams, both adjoining and near the
Decar project of FPX Nickel Corp., located 100 kilometers northwest
of Fort St. James, B.C., in the
Omineca mining division. Metallic mineralization includes nickel,
cobalt and chromium. At least some of the nickel mineralization
occurs as awaruite.
The Mitchell Range Group area claim consist of two contiguous
claim blocks covering 3,134.70 hectares with demonstrated metallic
mineralization including nickel, cobalt, and chromium.
Nickel-cobalt mineralization has not been well explored, but the
presence of awaruite has been documented. The company is planning
detailed exploration for the upcoming exploration season.
Lithium Project
The Clayton Valley Project is an early-stage lithium brine
prospect in Esmeralda county,
Nevada. A total of 118 claims
covering about 930 hectares (2,300 acres) were staked over the
western side of the Clayton Valley playa. The property position
covers an inferred graben bounded by the Silver Peak range front on
the west and Goat Island on the east. The exploration concept is
the graben is a subbasin of the larger Clayton Valley basin and may
represent a secondary trap for lithium brines within the greater
system.
On Behalf of the Board of Directors
"Robert Setter"
Robert Setter, President &
CEO
604- 428-5690
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. This news release may contain
forward-looking statements which include, but are not limited to,
comments that involve future events and conditions, which are
subject to various risks and uncertainties. Except for statements
of historical facts, comments that address resource potential,
upcoming work programs, geological interpretations, receipt and
security of mineral property titles, availability of funds, and
others are forward-looking. Forward-looking statements are not
guaranteeing future performance and actual results may vary
materially from those statements. General business conditions are
factors that could cause actual results to vary materially from
forward-looking statements.
Nickel Rock Resources Inc.
1220 – 789 West Pender
Street
Vancouver, BC, Canada V6C 1H2
604- 428-5690
www.nickelrockresources.com
info@nickelrockresources.com
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SOURCE Nickel Rock Resources Inc.