Canadian North Resources Inc. Attends PDAC 2025 and Invites Shareholders and Investors To Visit Booth 3031

Rhea-AI Summary

Canadian North Resources (TSXV: CNRI) (OTCQX: CNRSF) will be exhibiting at booth #3031 during the PDAC Convention in Toronto from March 2-4, 2025. The company will showcase technical advancements including initial results from applying eco-friendly bioleaching technology at their Ferguson Lake project in Canada, which contains copper, nickel, cobalt, palladium, and platinum.

Test results demonstrate 96-98% extraction rates for nickel and cobalt from massive sulfides samples and rougher sulfide tails, as reported in their October 21, 2024 press release. The company will also display drill cores of massive sulfides from recently drilled holes at the project.

Dr. Kaihui Yang, President and CEO, highlighted that the bioleaching initiatives could potentially simplify mineral processing by bypassing traditional smelting and refining, potentially reducing capital and operating costs while supporting sustainable mining practices.

Positive

• Bioleaching technology achieved 96-98% extraction of nickel and cobalt
• Technology may reduce capital and operating costs by bypassing traditional smelting
• Eco-friendly, low-carbon footprint processing method being developed
• Company advancing the Ferguson Lake project with multiple valuable metals (copper, nickel, cobalt, palladium, platinum)

Negative

• None.

Toronto, Ontario--(Newsfile Corp. - February 24, 2025) - Canadian North Resources Inc. (TSXV: CNRI) (OTCQX: CNRSF) (FSE: EO0) ("Canadian North", "CNRI" or the "Company") invites shareholders and investors to visit our booth, #3031, at the Prospectors & Developers Association of Canada ("PDAC") Convention in Toronto, Sunday, March 2 to Wednesday, March 4, 2025. PDAC is one of the world's premier mineral exploration and mining events and is held at the Metro Toronto Convention Centre.

The Company will present technical advancements including the initial results of applying the low-carbon footprint, eco-friendly bioleaching technology for the Ferguson Lake copper, nickel, cobalt, palladium and platium project in Canada (the "Ferguson Lake project"). The tests completed for the massive sulfides samples and rougher sulfide tails indicate 96-98% extraction of nickel and cobalt (Refer to the Company's Press Release dated on October 21, 2024). The Company will also display the drill cores of massive sulfides from the recently drilled holes at the Ferguson Lake project.

"We welcome the opportunity to participate in PDAC again this year," stated Dr. Kaihui Yang, President and CEO of the Company. "This is an exciting time for Canadian North Resources as our pioneering bioleaching initiatives are yielding promising results for the development of the Ferguson Lake project. Our initial tests indicate highly efficient metal extraction, with the potential to simplify mineral processing by bypassing traditional smelting and refining. This innovative approach not only reduces capital and operating costs but also reinforces our commitment to sustainable, low-carbon mining practices. We look forward to engaging with shareholders and industry leaders at this world-class event."

About Canadian North Resources

Canadian North Resources Inc. is an exploration and development company focusing on the metals for the clean-energy, electric vehicles, battery and high-tech industries. The company is advancing its 100% owned Ferguson Lake nickel, copper, cobalt, palladium, and platinum project that covers an area of 253.8 km² of mining leases (96.9 km²) and surrounding exploration claims (156.9 km²) in the Kivalliq Region of Nunavut, Canada.

The Ferguson Lake mining property contains a substantial National Instrument 43-101 compliant Mineral Resource Estimate announced on March 19 2024, which include Indicated Mineral Resources of 66.1 million tonnes (Mt) containing 1,093 million pounds (Mlb) copper at 0.75%, 678Mlb nickel at 0.47%, 79.3Mlb cobalt at 0.05%, 2.34 million ounces (Moz) palladium at 1.10gpt and 0.419Moz platinum at 0.19gpt; and Inferred Mineral Resources of 25.9Mt containing 558Mlb copper at 0.98%, 333Mlb nickel at 0.58%, 39.6Mlb cobalt at 0.07%, 1.192Moz palladium at 1.43gpt and 0.205Moz platinum at 0.25gpt. In particular, 80% of the Indicated Mineral Resources is Open Pit with 52.7Mt at 0.65% copper, 0.43% nickel, 0.05% cobalt, 0.97gpt palladium and 0.17gpt platiunum, which provides a solid Mineral Resource base for the initial development of a potential large mine. The Mineral Resource model indicates significant potential for resource expansion along strike and at depth over the 15 km long mineralized belt and a number of undefined mineralization zones and prospective areas. (Refer to "Independent Technical Report on the Mineral Resource Estimate for the Ferguson Lake Project, Nunavut, Canada ("the Technical Report")", prepared by SRK Consulting and Ronacher McKenzie Geoscience Inc., effective March 19, 2024, filed by the Company to the System for Electronic Document Analysis and Retrieval ("SEDAR+") through the Internet at https://www.sedarplus.ca/landingpage/ on May 3, 2024. The Technical Report has also been posted on the Company's website at www.cnresources.com.)

Qualified Person: Dr. Trevor Boyd, P.Geo. and Technical Advisor for Canadian North Resources, a qualified person as defined by Canadian National Instrument 43-101 standards and has reviewed the technical content of this news release and has approved its dissemination.

For further information please visit the website at www.cnresources.com or contact:

Sophy Cesar, Head of Corporate Development

Phone: 905-696-8288 (Canada) 1-888-688-8809 (Toll-Free)
Email: info@cnresources.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, including statements which may contain words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management's expectations regarding the Company's future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.

These factors should be considered carefully, and readers should not place undue reliance on the Company's forward-looking statements. The Company believes that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given that these expectations will prove to be correct. In addition, although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. The Company undertakes no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/242240

FAQ

What extraction rates did CNRSF achieve with their bioleaching technology?

Canadian North Resources (CNRSF) achieved 96-98% extraction rates for nickel and cobalt using their eco-friendly bioleaching technology, as demonstrated in tests on massive sulfides samples and rougher sulfide tails from the Ferguson Lake project.

When and where is Canadian North Resources (CNRSF) exhibiting at PDAC 2025?

Canadian North Resources (CNRSF) will be exhibiting at booth #3031 during the PDAC Convention in Toronto from March 2-4, 2025 at the Metro Toronto Convention Centre.

What metals is CNRSF targeting at the Ferguson Lake project?

Canadian North Resources (CNRSF) is targeting copper, nickel, cobalt, palladium, and platinum at their Ferguson Lake project in Canada.

How might the bioleaching technology benefit CNRSF's operations financially?

The bioleaching technology could benefit CNRSF financially by simplifying mineral processing through bypassing traditional smelting and refining, potentially reducing both capital and operating costs for the Ferguson Lake project.

What environmental benefits does CNRSF's bioleaching technology offer?

CNRSF's bioleaching technology offers environmental benefits through its low-carbon footprint and eco-friendly approach to metal extraction, supporting the company's commitment to sustainable mining practices.