Canadian North Resources Inc. Starts a 15,000-meter Drill Program at the Ferguson Lake Nickel, Copper, Cobalt, Palladium and Platinum Project in Canada
TORONTO, April 19, 2022 - Canadian North Resources Inc. ("the Company", TSXV: CNRI) is pleased to announce that two drill rigs have commenced diamond drilling at its 100% owned Ferguson Lake Project ("Ferguson Lake Project") in Nunavut, Canada. The project contains base metals (nickel, copper, cobalt) and platinum-group metals ("PGM", mainly palladium and platinum) along a 15-km-long main mineralized horizon and numerous additional prospective areas.
The Company plans a 15,000-metre drill program in two phases throughout 2022. The Phase 1 program consists of 7,000 meters as recommended in the NI43-101 Technical Report filed on Sedar.com. This drill program is designed to test the historic drill results, define the resources of the massive sulfides zones and the high grade-PGM zones at depth in West Main, West Pit and East II Zones, and test the extension of the West and East zones along strike under Ferguson Lake. Subject to results of this drill program, the Phase 2 drill program will focus on the near surface open-pit resource definition and the expansion of the high grade-PGE mineralization zones at depth along the 15-km-long main mineralized horizon.
"We are very excited to start drilling at Ferguson Lake," said Dr. Kaihui Yang, the President and CEO. "We will focus on the high-grade base metal and PGM targets along the 15-km-long main mineralized horizon, to explore the high-value large-tonnage economic resources of nickel, copper, cobalt, palladium and platinum."
Some of the assay results from selected historic core intersections include:
| Hole ID | From (m) | To (m) | Length (m)* | Copper (%) | Nickel (%) | Cobalt (%) | Palladium (g/t) | Platinum (g/t) |
| FL01-72 | 480.50 | 513.27 | 32.77 | 1.01 | 0.50 | 0.06 | 1.30 | 0.18 |
| FL01-74 | 370.30 | 434.75 | 64.45 | 0.96 | 0.53 | 0.064 | 1.40 | 0.24 |
| FL01-84 | 671.23 | 717.18 | 45.95 | 1.34 | 0.76 | 0.069 | 1.99 | 0.32 |
| FL05-237 | 7.50 | 109.17 | 101.67 | 1.30 | 0.74 | 0.08 | 1.96 | 0.39 |
| FL06-350 | 385.18 | 420.04 | 34.86 | 0.93 | 0.50 | 0.057 | 1.32 | 0.26 |
| FL06-261 | 390.35 | 427.53 | 37.18 | 1.22 | 0.65 | 0.079 | 1.61 | 0.26 |
| FL06-264 | 413.82 | 454.84 | 41.02 | 1.01 | 0.56 | 0.061 | 1.49 | 0.32 |
| 463.18 | 499.72 | 36.54 | 0.85 | 0.59 | 0.07 | 1.51 | 0.23 | |
| FL06-271 | 480.76 | 501.17 | 20.41 | 1.05 | 0.37 | 0.04 | 0.82 | 0.14 |
| FL06-283 | 376.55 | 403.11 | 26.56 | 1.04 | 0.56 | 0.073 | 1.44 | 0.27 |
| 413.21 | 438.06 | 24.85 | 1.38 | 0.78 | 0.093 | 2.05 | 0.28 | |
| FL06-323 | 366.1 | 389.33 | 23.23 | 1.23 | 0.57 | 0.06 | 1.55 | 0.23 |
| 395.56 | 427.25 | 31.69 | 1.34 | 0.55 | 0.06 | 1.40 | 0.17 | |
| FL06-327 | 407.29 | 435.76 | 28.47 | 1.40 | 0.66 | 0.072 | 1.75 | 0.32 |
| 443.40 | 467.63 | 24.23 | 1.21 | 0.49 | 0.057 | 1.43 | 0.37 | |
| FL06-337 | 454.65 | 500.70 | 46.05 | 1.43 | 0.61 | 0.071 | 1.51 | 0.24 |
*Although these drill hole intersections were completed across the projected dip of the mineralized zone, their true widths cannot be estimated at this stage of the project.
Qualified Person
The technical contents of this news release have been reviewed by Dr. Trevor Boyd, PGeo, a qualified person as defined by Canadian National Instrument 43-101 standards.
About Canadian North Resources Inc.
Canadian North Resources Inc. is an exploration and development company focusing on the metals for the clean-energy, electric vehicles, battery and high-tech industries. The company is advancing its 100% owned Ferguson Lake nickel, copper, cobalt, palladium, and platinum project in Nunavut, Canada.
Further information of the Company can be found at www.cnresources.com.
Also, for further information contact:
Dr. Kaihui Yang, President and CEO
905-696-8288 (Canada) 1-888-688-8809 (Toll-Free) https://CNResources.com
Email: info@cnresources.com
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Certain statements contained in this news release, including statements which may contain words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management's expectations regarding the Company's future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.
These factors should be considered carefully, and readers should not place undue reliance on the Company's forward-looking statements. The Company believes that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given that these expectations will prove to be correct. In addition, although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. The Company undertakes no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law, anticipated events, except as expressly required by law.