Montreal, Quebec--(Newsfile Corp. - November 14, 2024) - Nio Strategic Metals Inc. (TSXV: NIO) (OTC Pink: NIOCF) ("Nio" or the "Company"), a critical and strategic metals mining exploration company, is pleased to announce that it has acquired, through staking, an additional 1,274 hectares over 22 claims adjacent to the Company's Fafnir Project (the "Fafnir Project").
The claim block, 10km north east of Nio's Fafnir Project, has 10km of contiguity to Rush Rare Earth's Boxy project, notable for Niobium assays as high as 26.9% Niobium publicly announced last April 2nd, 2024 and is directly underlayed by a structural shear zone, the likely source of the Niobium enrichment in the region, as demonstrated by the 15 lake bottom samples Niobium enrichment within a 30 km radius of the Company project.
Figure 1
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The recently purchased Fafnir Project in Quebec now covers approximately 6,230 hectares or 62 Kilometers squared and located approximately 60 km north west of Mont Laurier, and 165 km north of Gatineau and is home to some large high-grade niobium and Uranium deposits and discoveries. There is excellent access to all parts of the property that are held strategically throughout the region.
Figure 2
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"I am excited these additions The Fafnir Project presents a highly prospective opportunity for niobium mineralization based upon historical reports, especially given its close proximity to infrastructure, ease of access, and low exploration and operating costs,", said Nio President and CEO Hubert Marleau. "Our intention is to perform explorations works during next summer and assess how this property can support the decarbonization effort from the use of Niobium," he added.
"The similar geology, coupled with known mineral occurrences near the Fafnir project, represents an exciting opportunity to expand our portfolio," said Marleau.
Qualified Person
Pierre-Jean Lafleur, Eng., and geological consultant, is a qualified person within the meaning of National Instrument 43-101 on standards of disclosure for mineral projects. He has reviewed and approved the technical information contained in this press release.
About Nio Strategic Metals
Nio Strategic Metals is an exploration and development company, with a focus on becoming a ferroniobium producer. The Company holds a niobium properties located in Oka and near Mont-Laurier, and Québec and other exploration property in the Province of Québec.
For more information on the Company, please refer to the Company's public documents available on SEDAR (www.sedarplus.ca) or on the Company's website (https://niostratmet.com) or contact:
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 press release.
Cautionary Statement on Forward-Looking Information
This news release contains forward-looking statements and forward-looking information (together, "forward looking statements") within the meaning of applicable Canadian securities laws. Statements, other than statements of historical facts, may be forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects", "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved", the negative of these terms and similar terminology although not all forward-looking statement contains these terms and phrases. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risk factors set out in Nio Strategic Metals' annual and/or quarterly management discussion and analysis and in other of its public disclosure documents filed on SEDAR at www.sedarplus.ca,as well as all assumptions regarding the foregoing. Although Nio Strategic Metals believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frame or at all. Except where required by applicable law, Nio Strategic Metals disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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