(Montreal, Quebec, May 1st, 2024) TheNewswire – Nio Strategic Metals Inc. (TSX-V: NIO) (OTC: NIOCF) (“Nio” or the “Company”) is pleased to announce that it has entered into a share purchase agreement (the “SPA”) to acquire 100% of the issued and outstanding shares of 1478472 B.C. Ltd., a company holding a 100% interest in the mining claims comprising the Fafnir Project in Quebec, Canada (the “Acquisition”).

 

The Project is comprised of 90 mineral claims covering approximately 4,956 hectares (50 square kilometers) located approximately 60km north west of Mont Laurier, and 165 km north of Gatineau. There is excellent access to all parts of the property from a logging road off the La Verendrye 13, via the Trans-Canada highway.

 

The Fafnir project, subject of pass geophysics and ground work has a large intrusive NYF (Niobium-Yttrium-Fluorine) type pegmatite which has returned 9,238 ppm for Niobium, 8,022 ppm of Uranium and 1,288 ppm of Praseodymium (Pr) / Neodymium (Nd). The Structural shear fault that truncates the property’s South Western flanc, being the likely context for enrichment, also truncates the Petawaga Indice, site of a bulk sample that revealed 3.4% Niobium, 0.7% uranium and ~1% to 1.5% Lithium, is located 30 kilometers south west of Fafnir.  The Boxi project located 10 kilometers, North West of Fafnir is further evidence of the strong Rare Earth Elements enrichment in the area, having reported assays of 14% Uranium, 26% Niobium and 3,700 ppm in Pr/Nd.

 

“The proposed Acquisition perfectly fits our renewed strategy to enter the critical metals ecosystem. The initial indication of the Niobium and Rare earth presence was key in our decision to support the development of the Fafnir Project” said Nio President and CEO Hubert Marleau.

 

“The population is just starting to understand the importance of niobium and its superconductivity,” said Marleau. “It’s essential for electric vehicles batteries that could revolutionize new and green technologies. We look forward to working actively with their geology team to develop these resources”.

 

As consideration for the SPA, the Company shall pay an aggregate of $75,000 as a cash contribution and $325,000 in common shares of the Company. The Acquisition contemplated by the SPA is anticipated to close before May 31, 2024.

      

About Nio Strategic Metals

Nio Strategic Metals is an exploration and development company, with a focus on becoming a ferroniobium producer. The Company holds a niobium property in Oka, Québec and other exploration properties in the Province of Québec.

 

For more information on the Company, please refer to the Company’s public documents available on SEDAR (www.sedarplus.ca) or on the Company’s website (https://niostratmet.com/).

 

For more information, please contact:

 

Hubert Marleau

Chairman, President and Chief Executive Officer

nio.investorinformation@gmail.com

514-560-7623

 

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 press release.

 

Cautionary Statement on Forward-Looking Information

 

This news release contains forward-looking statements and forward-looking information (together, “forward looking statements”) within the meaning of applicable Canadian securities laws. Statements, other than statements of historical facts, may be forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will be taken”, “occur” or “be achieved”, the negative of these terms and similar terminology although not all forward-looking statement contains these terms and phrases. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risk factors set out in Nio Strategic Metals’ annual and/or quarterly management discussion and analysis and in other of its public disclosure documents filed on SEDAR at www.sedarplus.ca, as well as all assumptions regarding the foregoing. Although Nio Strategic Metals believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frame or at all. Except where required by applicable law, Nio Strategic Metals disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.