Victory Nickel Announces Filing of Application to Change Permit Status of Seven Persons Sand Plant
TORONTO, ONTARIO -- (Marketwire) -- 02/25/13 -- Victory Nickel Inc. ("Victory Nickel" or the "Company")(TSX: NI) (www.victorynickel.ca) today announced that the application to change the permit of the Seven Persons sand recycling facility (the "7P Plant") located southwest of Medicine Hat in Seven Persons, Alberta, has been filed.
As discussed in the news release of January 9, 2013, a condition of finalizing the acquisition by Victory Nickel of the 7P Plant is obtaining approval from Alberta's Energy Resources Conservation Board ("ERCB") of a reclamation plan to convert the 7P Plant site to a frac sand processing facility; it is currently licensed as a sand recycling facility (see photos at http://media3.marketwire.com/docs/SevenPersonsFacility.jpg).
Once the reclamation plan is approved by ERCB, the Company will commence the reclamation work, currently estimated to take approximately three months. The engineering, equipment acquisition and construction of plant upgrades to convert the 7P Plant to a 400,000 tpa frac sand processing plant will occur simultaneously with reclamation.
"There are tremendous opportunities available in the frac sand market and Victory Nickel, through its subsidiary Victory Silica Ltd., is positioning itself to generate near-term cash flow by taking advantage of these opportunities through its three-phase plan to establish Victory Nickel as a premier frac sand supplier to northern markets," said Ken Murdock, CEO of Victory Silica. "The submission of this application is a significant step toward realizing this goal."
About Victory Nickel
Victory Nickel Inc. is a Canadian company with four sulphide nickel deposits containing significant NI 43-101- compliant nickel resources. Victory Nickel is focused on becoming a mid-tier nickel producer by developing its existing properties, Minago, Mel and Lynn Lake (under option to Prophecy Platinum) in Manitoba, and Lac Rocher in northwestern Quebec, and by evaluating opportunities to expand its nickel asset base. Through a wholly-owned subsidiary, Victory Silica Ltd., Victory Nickel is establishing a presence in the frac sand market prior to commencing frac sand production and sales from Minago.
Please visit the Company's website at www.victorynickel.ca. Should you wish to receive Company news via email, please email juliet@chfir.com and specify "Victory Nickel" in the subject line.
Forward-Looking Information: This news release contains forward-looking information. All statements, other than statements of historic fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future constitute forward-looking information. This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: uncertainty of estimates of capital and operating costs, production estimates and estimated economic return; the possibility that actual circumstances will differ from estimates and assumptions; uncertainties relating to the availability and costs of financing needed in the future; failure to establish estimated mineral resources; fluctuations in commodity prices and currency exchange rates; inflation; recoveries being less than those indicated by the testwork carried out to date (there can be no assurance that recoveries in small scale laboratory tests will be duplicated in large tests under on-site conditions or during production); changes in equity markets; operating performance of facilities; environmental and safety risks; delays in obtaining or failure to obtain necessary permits and approvals from government authorities; unavailability of plant, equipment or labour; inability to retain key management and personnel; changes to regulations or policies affecting the Company's activities; the uncertainties involved in interpreting geological data; and the other risks disclosed under the heading "Risk Factors" and elsewhere in the Company's amended annual information form dated November 5, 2012 filed on SEDAR at www.sedar.com. Forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
To view the map associated with this release, please visit the following link: http://media3.marketwire.com/docs/VictoryNickelProximity.jpg.
Contacts:
Victory Nickel Inc.
Rene Galipeau or Sean Stokes
416.363.8527
416.626.0890 (FAX)
admin@victorynickel.ca
www.victorynickel.ca
Victory Silica Ltd.
Ken Murdock
403.899.0141
CHF Investor Relations
Juliet Heading
416.868.1079 ext. 239
416.868.6198 (FAX)
juliet@chfir.com