Calgary, Alberta–(Newsfile Corp. – January 18, 2022) – Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) (the “Company” or “Fathom“) is pleased to announce the buyback of the 2% net smelter return royalty on the Albert Lake nickel, copper, PGE property located in north-central Saskatchewan (the “Albert Lake NSR“).
Pursuant to a Royalty Purchase Agreement dated January 12, 2022, between(“Uravan“) and Fathom’s wholly owned subsidiary, Fathom Minerals Ltd., Fathom paid cash consideration of $175,000 for the purchase of the Albert Lake NSR. The Albert Lake NSR was originally granted to Uravan in accordance with a Purchase and Sale Agreement dated April 15, 2015, wherein Fathom acquired the Albert Lake property from Uravan (then named the Rottenstone Property).
Brad Van Den Bussche, President and CEO commented, “With the buyback of the Albert Lake NSR, Fathom has now eliminated third-party royalties on all but approximately 856 hectares of the 90,000+ hectare Albert Lake Property, or less than 1% of the total project. The completion of this transaction gives us increased financial flexibility as we continue to explore the Albert Lake property.”
Fathom is also pleased to announce that the Q1-2022 exploration drill program commenced on January 12, 2022 and the first diamond drill hole of the planned 5,000m program has been completed. Assay results will be released as received over the coming months.
About Fathom Nickel Inc.
Fathom is a junior resource exploration and development company that is targeting high-grade nickel sulphide discoveries for use in the rapidly growing global electric vehicle market.
The Company is accelerating exploration on its flagship Albert Lake Project, host to the historic Rottenstone mine, which is recognized as one of the highest‐grade (Nickel, Copper,) deposits of its type ever mined in Canada. The Albert Lake Project consists of over 90,000 ha of mineral claims located in the Trans-Hudson Corridor of Saskatchewan, which is home to numerous world-class mining camps.
ON BEHALF OF THE BOARD
“Brad Van Den Bussche”
President and CEO, Director
For Further Information Please Contact:
Brad Van Den Bussche, President and CEO
Manish Grigo, Director of Corporate Development
Email: [email protected]
Forward Looking Statements:
This news release may contain “forward-looking statements” that are based on expectations, estimates, projections and interpretations as at the date of this news release. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “seek”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur, and include, without limitation, statements regarding the enhancement of the Company’s geologic model and extending the areas of known mineralization and the Company’s work towards defining a resource base. Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors may include, but are not limited to, the results of exploration activities; the ability of the Company to complete further exploration activities; timing and availability of external financing on acceptable terms. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/110615
Sassy Gold, Multiple Ways to Win in 2023
Marvel Discovery $MARV.V – An Exciting #Gold, #uranium, #copper, #nickel, #PGE, #REE & (Possibly) #LITHIUM Play
It’s been a terrible year for junior mining stocks. Hell, it’s been a terrible year for bonds, cryptocurrencies & industry-leading tech stocks…
Seahawk Gold Corp Engages North Equities Corp.
Vancouver, British Columbia–(Newsfile Corp. – October 13, 2022) – Seahawk Gold Corp. (CSE: SEAG) (OTCQB: SEHKF) (FSE: 7SR) (the "Company" or "Seahawk")…
Hudbay to Host Conference Call for Fourth Quarter 2022 Results
Filo Mining Reports 1,776m at 0.70% CuEq and 1,297m at 1.00% CuEq
MAS Gold Announces Results of the Annual General and Special Meeting of Shareholders and Corporate Update
TASEKO EXTENDS TERM OF UNDRAWN REVOLVING CREDIT FACILITY AND PROVIDES UPDATE ON HEDGING PROGRAM
Portofino Provides Projects Updates; 2023 Plans and Objectives
Osino Receives Multiple Project Finance Offers For the Development of the Twin Hills Gold Project, Namibia
Fortuna’s Séguéla Gold Project ~90% Completed and On-Track for Commissioning in Q2 2023
Newmont Corporation Files Early Warning Report
Precious and Base Metals Market Size to Reach $2,098.52B in 2030
Fuse Battery Metals Grants Stock Options
Economics14 hours ago
Revisiting Exchange Market Pressure
Economics20 hours ago
Bonds Die, CPI’s Lie, & Gold Flies
Economics24 hours ago
The Fed’s Portfolio Is Nonexistent: The Fed Does Not Invest. It Destroys Investments
Economics16 hours ago
US To Open 4 New Sites In Philippines, Accelerating ‘Pivot To Asia’
Precious Metals12 hours ago
Theater Of The Absurd In J6 Courtrooms
Economics24 hours ago
Dow Jones Outlook: Understanding the Dangers & Rewards of Crisis Investing
Economics20 hours ago
3 Things Most People Don’t Know About Gold, Bitcoin, And Money
Economics4 hours ago
Prepping For War? Chinese Spy Balloon Belies Much Larger Economic Warning Signs