Core Nickel Announces Board Changes
Rhea-AI Summary
Core Nickel Corp (CSE: CNCO) announces immediate board changes with Paul Reid and Marc Pais appointed as new directors, while Shane Shircliff and Karen Lloyd resign. Reid and Pais, who recently became major shareholders owning 17% and 10% respectively, bring extensive experience from Arizona Metals Corp and Telegraph Gold Inc. The company's main assets include the Mel Project, located 25km from Vale's Thompson Mill, and the Halfway Lake Project, 15km from the Bucko Mill, both in the Thompson Nickel Belt. The company is well-funded to begin testing drill targets in early 2025.
Positive
- Major shareholders join board: Paul Reid (17%) and Marc Pais (10%) bring significant ownership stake
- Company is well-funded for drilling program in early 2025
- Strategic assets location: Mel Project 25km from Vale's Thompson Mill, Halfway Lake Project 15km from Bucko Mill
Negative
- None.
News Market Reaction
On the day this news was published, CNCOF gained 12.00%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Saskatoon, Saskatchewan--(Newsfile Corp. - October 24, 2024) - Core Nickel Corp. (CSE: CNCO) ("Core Nickel" or the "Company") announces that effective immediately, Paul Reid and Marc Pais have been appointed to the Board of Directors for the Company and in turn Shane Shircliff and Karen Lloyd have each resigned from the Board of Core Nickel effective immediately.
Paul Reid is the Co-Founder and past Executive Chairman of Arizona Metals Corp. (TSX: AMC). He previously co-founded and served as Executive Chairman of Telegraph Gold Inc., (listed as Castle Mountain Mining Company Limited). Mr. Reid worked for fifteen years in investment banking and has extensive experience in raising capital, going public transactions, and corporate advisory services.
Marc Pais is the Co-Founder and former CEO of Arizona Metals Corp. (TSX: AMC). He previously co-founded and served as CEO of Telegraph Gold Inc., (listed as Castle Mountain Mining Company Limited). Mr. Pais worked for seven years as a mining research analyst, with a focus on exploration and development companies. Mr. Pais holds a B.Sc. in Geological Engineering (Mineral Exploration) from Queen's University (Kingston, Ontario).
Paul Reid, incoming Director, commented: "Marc and I recently both became large shareholders of Core, and now own
Misty Urbatsch, the Company's CEO and President, stated: "Mr. Shircliff and Ms. Lloyd were instrumental in spinning Core Nickel out of CanAlaska Uranium Ltd. and setting the company up for success. Their dedication and vision played a crucial role in getting the company moving forward, and we are deeply grateful for their contributions during their time on the board. It is with great pleasure that we welcome Paul Reid and Marc Pais to the board of directors. Having served as key strategic advisors, they both bring a wealth of knowledge and a proven track record of success. Their support and belief in our vision will be invaluable as we continue to drive progress on our tier one assets in the Thompson Nickel Belt, Manitoba. Welcome Paul and Marc."
About Core Nickel
Core Nickel Corp. is a junior nickel exploration company that controls
Map: Core Nickel's Thompson Nickel Belt Properties
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10145/227659_219be92c545a99ef_001full.jpg
Core Nickel has a large contiguous land package in the northern part of the TNB, situated approximately 16-20 km from the City of Thompson. Core Nickel's northern TNB projects consist of three properties: Mel, Hunter, and Odei River. The Mel property encompasses the Mel deposit, which is characterized by a historical NI-43-101 resource estimate with an indicated resource of 4.3 million tonnes at
The Company also holds two properties in the central TNB near Wabowden: Halfway Lake and Resting Lake. Both properties host the target Pipe Formation associated with known elevated nickel mineralization and are proximal to existing nickel deposits, mills, and other infrastructure.
The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects for this news release is Caitlin Glew, P. Geo., Vice-President Exploration for Core Nickel Corp., who has reviewed and approved its contents.
References
1 "Technical Report on the Mel Deposit, Northern Manitoba" prepared for Victory Nickel Inc, Shane
Naccashian (P. Geo.) of Wardrop Engineering Inc., March 9, 2007
Technical Disclosure
The historical results contained within this news release have been captured from Manitoba Integrated Mining and Quarrying System ("iMaQs") as available and may be incomplete or subject to minor location inaccuracies. Management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by a Qualified Person but form a basis for ongoing work on the subject properties.
On behalf of the Board of Directors
"Misty Urbatsch"
Misty Urbatsch
CEO, President and Director
Core Nickel Corp.
Contacts:
| Misty Urbatsch, CEO and President | General Enquiry |
| Tel: 306-668-6927 | Tel: 306-668-6927 |
| Email: murbatsch@corenickel.com | Email: info@corenickel.com |
Also find us online:
Website: www.corenickel.com
X: https://x.com/CoreNickel
Neither the Canadian Securities Exchange nor its regulations services accept responsibility for the adequacy or accuracy of this release.
Forward-Looking information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/227659
FAQ
What percentage of Core Nickel (CNCOF) do new board members Paul Reid and Marc Pais own?
When will Core Nickel (CNCOF) begin its drilling program in the Thompson Nickel Belt?
How far is Core Nickel's (CNCOF) Mel Project from Vale's Thompson Mill?
