This consolidation aims to streamline their interests in a portfolio of nickel projects located north-east of Timmins, Ontario. Credit: T. Schneider/Shutterstock.

Canada Nickel Company (Canada Nickel) has announced the signing of two definitive agreements focusing on the creation of ExploreCo and the acquisition of surface rights for the Crawford Nickel Sulphide project.

The agreements involve a transaction with Noble Mineral Exploration and a separate agreement with the primary surface rights holder in Crawford and surrounding townships.

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The agreement with Noble will see both companies contribute specific mining properties, including the existing Mann joint venture, into a new private entity named ExploreCo.

This consolidation aims to streamline their interests in a portfolio of nickel projects located north-east of Timmins, Ontario.

As part of the transaction, Canada Nickel will consolidate ownership of mining rights and access to surface rights for key patents in Aubin, Crawford, Carnegie, Dargavel, Kidd, Lennox, Lucas, Nesbitt, Prosser and Wark townships, currently held by Noble.

This move is expected to facilitate and simplify future development of the Crawford project and other regional properties owned by Canada Nickel.

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The formal establishment of ExploreCo is set to close by 31 January 2025, pending any required approvals from the TSX Venture Exchange (TSXV).

Canada Nickel has also signed a definitive agreement with the Surface Rights Holder for an option to acquire 32,000 acres of surface rights in Crawford and surrounding areas.

As part of this Surface Rights Transaction, Canada Nickel will issue 5.5 million shares and transfer mining rights to approximately 47,750 acres in Kingsmill and Mabee townships.

This transaction is also subject to TSXV approval, with additional consideration to be paid upon exercising the option based on a construction decision.

Canada Nickel CEO Mark Selby said: “Today’s announcements secure access to 32,000 acres of surface rights and is another critical step for the company as we complete our permitting and move toward a construction decision on Crawford in 2025.

“As part of the surface rights agreement, the company will transfer 47,750 acres of mining rights in Kingsmill and Mabee townships – where no known exploration targets exist – to the Surface Rights Holder.

“This transfer aims to create future certainty over a substantial area of land, facilitating the effective development of sustainable forestry and wildlife habitat preservation.”

The company retains the right to exercise the option by 31 December 2026, with the possibility of extending the option annually for up to five additional years, subject to further payments for each extension.

The Surface Rights Holder has requested confidentiality regarding all other terms of the agreement.