High-Grade Polymetallic Nickel-Copper-PGM Discovery in Quebec

Our flagship NISK project is an exceptionally clean source of high-grade battery metals within one of the safest jurisdictions in the world.

Located in Quebec, Canada the NISK project benefits from an abundant supply of low-carbon hydropower, shallow mineral depth and ultramafic tailings that enable the NISK project to be carbon neutral with minimal environmental impact.

  • Potentially Massive Strike Length: NISK contains two distinct high grade mineralized zones. They are separated by 5.5 Kilometres. The operating thesis is that these mineralized areas are connected sub-surface, creating a potentially huge mineralized area.
  • High-Grade: NISK is blessed with two high grade mineralized zones. The initial discovery NISK Main featuring high-grade class-1 nickel with intercepts including 18.5m of 2.00% NiEQ and 26.6m of 1.98% NiEQ. The Lion Discovery highlights multiple 10 Metre Plus zones with with Copper ranging as high as 8%, PGMs in excess of 22 g/t, Gold In excess of 1.6 g/t and Silver in excess of 69 g/t.
  • Carbon-Neutral: Carbon capture technology using the ultramafic tailings found at NISK enables us to sequester more carbon than the project will emit during its entire operation. Read our ESG & Sustainability Report
  • Low-Cost: Access to inexpensive and abundant hydropower from a Hydro-Québec substation across the road, plus generous tax incentives and a shallow mineral depth.
  • World-Class Mining Jurisdiction: The Quebec and Canadian governments combined offer tax credits that cover 50% of exploration cost, which means Power Nickel can spend $2 exploring for every $1 invested.
  • Established Infrastructure: NISK is located beside a major highway with a Hydro-Quebec substation across the road and a nearby town with an airport.

Lion Discovery

Copper Equivalent Grades for Recent Drill Results
Stock Chart for Power Nickel over Previous Year
Source: Company Report, H&P estimates. * Newly reported holes. † Copper equivalent grades calculated based on current spot commodity prices and before accounting for recovery losses.
Lion Discovery Drill Results (CuEq %)
SampleCuEq TotalCopperPlatinumPalladiumNickelGoldSilver
PN-24-031A (7.8m)7.32%1.47%3.85%1.84%0.00%0.23%0.00%
PN-24-044 (15.8m)5.57%2.52%0.23%0.88%0.36%1.33%0.27%
PN-24-047 (14.4m)15.52%8.17%3.02%2.01%1.11%0.49%0.74%
PN-24-048 (15.3m)6.84%1.89%0.45%2.27%1.53%0.41%0.17%
PN-24-051 (11.4m)11.04%2.51%7.01%1.03%0.34%0.20%0.15%
PN-24-052 (11.4m)1.74%0.63%0.24%0.50%0.08%0.22%0.07%
PN-24-053 (5m)23.31%12.70%0.36%6.71%0.77%1.46%1.11%
PN-24-055 (15.4m)11.49%5.06%1.20%4.22%0.29%0.36%0.24%
PN-24-056 (4.6m)*3.13%0.88%0.51%0.86%0.23%0.60%0.06%
PN-24-057 (5.2m)*6.35%2.57%0.88%1.84%0.36%0.31%0.39%
PN-24-058 (8.3m)*2.76%0.64%0.30%1.10%0.48%0.16%0.08%
PN-24-059 (17.3m)*5.70%3.33%0.53%0.66%0.34%0.55%0.29%
Wtd Ave (11m)8.20%3.46%1.56%1.84%0.54%0.52%0.28%
Source: H&Pe. * Newly reported holes. † Copper-equivalent grade based on contained metals with spot prices as of 4/6/2024.

2024 Roadmap
Next Steps for Power Nickel

Expand NISK Resources

  • Throughout 2024: Continue exploration with dedicated drilling rigs for each pod, aiming to increase resources and enhance geological understanding, building on the recently published NI 43-101 of 7.2 million tonnes including 5.43 million tonnes (Indicated) and 1.79 million tonnes (Inferred).

Complete CVMR Feasibility Study

  • Q1 2024: Receive results of benchmark studies conducted by CVMR.
  • Q2 2024: Obtain prototype results.
  • Q3 2024: Finalize and release the CVMR Feasibility Study report, potentially highlighting a 30% improvement in mineral recovery.

Spin Out Copper and Gold Assets into a Newco via a Plan of Arrangement

  • Q3 2024: Announce terms of the Plan of Arrangement.
  • Q4 2024: Complete the Plan of Arrangement, expecting to secure funding for initial plans and utilize Ambient Noise Tomography in Chile.

Complete Sale of Royalty at Teck Owned Copaquire

  • H2 2024: Aim to finalize the sales process for existing royalty rights on the Copaquire project.

Complete Sale of 10% Stake in Power Nickel and 10% Offtake at Power Nickel to Industry

  • H2 2024: Finalize the sale of a 10% stake and a 10% offtake agreement on NISK's production, leveraging funding benefits from Canadian tax incentive programs.

Continue to Vigorously Defend Shareholders from Predatory Short Sellers

  • Ongoing 2024: Maintain legal and advocacy efforts against illegal short selling practices, working with regulatory bodies and industry groups.

Canadian Projects

Chilean Projects

Favourable Environment for North American Battery Metals and Critical Elements
  • Rising Demand for Battery Metals

    The global shift towards electric vehicles and renewable energy sources has significantly increased the demand for battery metals. Nickel, which is essential for high-density battery cathodes that enable longer-range EVs, saw its demand rise by nearly 30% in 2023 alone, compared to 2022. Cobalt demand for batteries was also up 15% in the same period. The International Energy Agency (IEA) projects that copper demand for EV batteries alone will jump from 210,000 tonnes in 2020 to 1.8 million tonnes by 2030. With EV battery demand expected to grow four-and-a-half times by 2030 and almost seven times by 2035 compared to 2023, the need for high-quality battery metals is more pressing than ever.

  • Substantial Government Funding and Support

    Recent legislation in Canada and the US is bolstering the market for North American-sourced battery metals. The US Inflation Reduction Act mandates that by 2027, 80% of the market value of critical minerals in EV batteries must be sourced domestically or from US free-trade partners, like Canada. Canada's Critical Minerals Strategy also aims to enhance the supply of responsibly sourced critical minerals, supporting the battery metal supply chain with subsidies and fast-tracked timelines. These initiatives are part of broader regulations that are also banning or phasing out gas-powered vehicles, further driving the demand for EVs and associated battery metals.

  • More Regulations Favouring Secure Low-Carbon Sources

    The international landscape for battery metal sourcing is rapidly changing due to increased regulatory actions. Recent U.S. and U.K. sanctions on Chinese metals have disrupted traditional supply chains, emphasizing the need for secure and sustainable sources. Moreover, the rejection of low-quality nickel from Indonesia due to environmental concerns highlights the critical need for high-standard, low-carbon sources of battery metals. These developments make North American sources, which adhere to stricter environmental and social governance standards, increasingly attractive for investors looking for stability and compliance with global regulations.

Road going into NISK project

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