Nunavik Nickel Mines Amends Terms of the Option of the Boston Bulldog Prospect
| MARCH 27, 2015
Val-d’Or, Québec — Nunavik Nickel Mines Ltd. (TSX-V:KZZ; “Nunavik Nickel” or the “Company”) announces that the terms of the Mining Option Agreement dated February 16, 2015, pursuant to which Nunavik Nickel has been granted an option to acquire a 100% interest in the mineral claims comprising the Boston Bulldog Prospect, located in Kirkland Lake, Ontario, subject to a 3% net smelter returns royalty, have been amended and the option has been assigned by Glenn J. Mullan to 2973090 Canada Inc., a private company wholly-owned and controlled by Mr. Mullan. Pursuant to an Amendment to Mining Option Agreement made as of March 6, 2015, the parties to the Mining Option Agreement have removed the provision requiring Nunavik Nickel to pay the optionor $10,000 per annum advance royalty payments under the net smelter returns royalty. Details with respect to this option were previously announced by Nunavik Nickel by news release on February 19, 2015.
The optionor has advised Nunavik Nickel that previous exploration work on the property was completed in 1996, costing approximately $12,000.
The TSX Venture Exchange has issued its acceptance of the option and the issuance of 300,000 common shares in the capital of Nunavik Nickel to the optionor, subject to Nunavik Nickel filing final documentation with the Exchange.
About Nunavik Nickel Mines Ltd.
Nunavik Nickel Mines Ltd. holds title to the Fortin Property, the Marymac Prospect, the Shoot Out Prospect (East and West combined) and the Donnybrook and Overtime Claims, which were previously held by Golden Valley Mines Ltd., and may acquire and generate other nickel ventures in Canada and elsewhere.
For additional information, please contact:
Glenn J. Mullan
2864 chemin Sullivan
Val-d’Or, Québec J9P 0B9
Tel.: 819-824-2808, x204
Forward Looking Statements:
This news release contains certain statements that may be deemed “forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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