Nickel Rock Resources Options Out Certain Nickel Rock Claims to Surge Battery Metals Inc.
Vancouver, July 8, 2021 - Nickel Rock Resources Inc. (the "Company" and "Nickel Rock") (TSXV:NICL), (OTC:NICKLF), (FSE:NMK2) announces that it has entered into an option agreement with Surge Battery Metals Inc. ("Surge") dated July 7, 2021 (the "Agreement"), whereby Surge may earn an undivided 80% interest in the Hard Nickel and Nickel 100 group of claims, located in Northern British Columbia (the "Transaction"). The Transaction is subject to TSX Venture Exchange (Exchange) acceptance. Terms of the Option:
Purchase Price - Surge will issue 5,000,000 fully paid and non-assessable common shares to the Company upon Exchange Approval. In addition, Surge shall incur an aggregate of $200,000 in Exploration Expenditures on the Property on or before two years from the date of the Agreement.
Joint Venture - Upon Surge having exercised the Option, Surge will have earned an undivided 80% interest in the Property, and the parties will enter into a Commercially Reasonable and Definitive Joint Venture Agreement.
Qualified Person
Jacques Houle, P.Eng., a qualified person as defined by NI 43 - 101, is responsible for the technical information contained in this release. Readers are cautioned that the information in this press release regarding the property of FPX Nickel Corp is not necessarily indicative of the mineralization on the property of interest.
About Nickel Rock Resources Inc.
The Company is a Canadian-based mineral exploration company active in the exploration for nickel-iron alloy in British Columbia and lithium in Nevada. Nickel Rock Resources Inc. is a Canadian based exploration company whose primary listing is on the TSX Venture Exchange. The Company's maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market. www.nickelrockresources.com
About Clayton Valley Lithium Project
Clayton Valley is a down-dropped closed basin formed by the Miocene age Great Basin extension and is still active due to movement along the Walker Lane structural zone. As a result, the basin has preserved multiple layers of lithium bearing volcanic ash, resulting from multiple eruptive events over the past 6 million years including eruptions from the 700,000-year-old Long Valley Caldera system and related events. These ash layers are thought to contribute to the lithium brines extracted by Albemarle and are also likely involved in the formation of the exposed lithium rich clay deposits on the east side of Clayton Valley. nickelrockresources.com/clayton-valley-lithium
About the British Columbia, Nickel Projects
Hard Nickel and Nickel 100 Claims
The Mount Sidney Williams Group consists of seven claim blocks in four groups with a total area of 6,900.82 hectares in the area surrounding Mount Sidney Williams, both adjoining and near the Decar project of FPX Nickel Corp., located 100 kilometres northwest of Fort St. James, B.C., in the Omineca mining division. Metallic mineralization includes nickel, cobalt, and chromium. At least some of the nickel mineralization occurs as awaruite. The Mitchell Range Group area claim consist of five claim blocks covering 8,659.88 hectares with demonstrated metallic mineralization including nickel, cobalt, and chromium. Nickel and cobalt mineralization have not been well explored, but the presence of awaruite has been documented.
Klone Claims
On October 15, 2020 the Company entered into an option agreement to earn an undivided 100% interest in the Klone group of mineral claims (1,400 ha) adjoining the property of FPX Nickel Corp. (TSXV:FPX) located 100km northwest of Fort St. James BC in the Omineca Mining division.
Funk Claims
On February 1, 2021 and February 22, 2021, the Company entered into an option agreement to earn an undivided 100% interest, subject to a 2% NSR in 6 mineral claims located approximately 15 km west of Mt Sydney Williams near Fort St James, BC. Additionally, the Company located two adjoining claims by title selection.
On Behalf of the Board of Directors
"Robert Setter"
604-428-5690
Robert Setter, President & CEO
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 release. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.