VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 19, 2015) -
North American Nickel Inc. (TSX VENTURE:NAN)(OTCBB:WSCRF) (CUSIP: 65704T 108) (the "Company") is pleased to announce that it has signed an exclusivity agreement with Minelco AB, a subsidiary of Swedish iron producer LKAB Minerals, for the Seqi Port on the southwest coast of Greenland.
Exclusivity Agreement and the Seqi Port Facility
North American Nickel has entered into an Exclusivity Agreement with Minelco AS that provides the Company the opportunity to acquire 100% ownership of Minelco's deep water Seqi Port in south western Greenland.
North American Nickel is engaged in the continued exploration for economic nickel sulphide deposits at its Maniitsoq project in southwestern Greenland. The Seqi port is favourably located in the Niaquungunaq (Greenlandic) or Fiskefjord (Danish) fjord, proximal to North American Nickels southern property boundary (Figure 1). It was built by LKAB Minerals, a subsidiary of Minelco specifically for the transportation of olivine from their Seqinnersuusaaq or "Seqi" mine. In this regard the port was amenable to dock and load Panamax vessels to 60,000 tons. The port is accessible year round due to limited sea ice cover.
This agreement grants North American Nickel the sole right until the end of February, 2015 to undertake due diligence of the Port and to conclude the final assignment terms with Minelco. The successful completion of this transaction would provide the Company with the flexibility of a secure operational hub. In addition to the technical due diligence, North American Nickel is continuing to evaluate the potential direct cost benefits as well as the reduction in project time, cash flow management and risk surrounding the deep water all year access facilitated by the Seqi Port for any future economic development of nickel sulphide deposits at their Maniitsoq project.
To view Figure 1, visit the following link: http://media3.marketwire.com/docs/Seq_Location_Map.jpg
About North American Nickel
North American Nickel is a mineral exploration company with 100% owned properties in Maniitsoq, Greenland and Sudbury, Ontario.
The Maniitsoq property in Greenland is a Camp scale project comprising 2,954 square km covering numerous high-grade nickel-copper sulphide occurrences associated with norite and other mafic-ultramafic intrusions of the Greenland Norite Belt (GNB). The >75km-long belt is situated along, and near, the southwest coast of Greenland, which is pack ice free year round.
The Post Creek/Halcyon property in Sudbury is strategically located adjacent to the past producing Podolsky copper-nickel-platinum group metal deposit of KGHM International Ltd. The property lies along the extension of the Whistle Offset dyke structure. Such geological structures host major Ni-Cu-PGM deposits and producing mines within the Sudbury Camp.
Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as that term defined in the Private Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbours created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from the expected results.
ON BEHALF OF THE BOARD OF DIRECTORS
Mark Fedikow, President
North American Nickel Inc.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.