Fjordland Receives TSX-V Approval to Complete Acquisition of North Thompson Nickel Project Option with CanAlaska / Grants Stock Options
Vancouver, June 5, 2020 - Fjordland Exploration Inc. (TSXV: FEX) is pleased to announce that it has received approval from the TSX Venture Exchange with respect to the option agreement with CanAlaska Uranium Ltd. whereby Fjordland can earn up to an 80% interest in CanAlaska's 100%-owned North Thompson Nickel Project in Manitoba, Canada (see news release #20-02 dated May 5, 2020). Fjordland reports it has issued 1,000,000 common shares and paid $25,000 to CanAlaska under the terms of the agreement. The shares have a four month hold period and may not be traded until September 29, 2020.
Robert Cameron, P. Geo., a technical consultant to the Company, is a qualified person within the context of National Instrument 43-101 and has read and takes responsibility for the technical aspects of this release.
Stock Option Grants
The board of directors reports it has accepted the recommendations of the Compensation Committee and has granted 2,225,000 incentive stock options to directors, officers and contractors of the Company under its stock option plan, in accordance with the Company's compensation policy. The options are exercisable for five years at a price of $0.07 per share and are subject to the policies of the TSX Venture Exchange.
About Fjordland Exploration Inc.
Fjordland Exploration Inc. is a mineral exploration company that is focused on the discovery of large scale potentially economic deposits located in Canada.
Fjordland has been actively exploring the Pants Lake Intrusive in collaboration with High Power Exploration and Commander Resources. The target is a Ni-Cu-Co deposit analogous to the nearby Voisey's Bay deposit some 80 km to the north.
Fjordland has an option from CanAlaska Uranium Ltd. to earn an 80% interest in two large claim groups located 20 km. north of Vale's long-life Thompson mine located in northern Manitoba. The properties are considered prospective for Ni-Cu-Co-PGE magmatic sulphide mineralization analogous to the deposits hosting the operating mine. Recent detailed due diligence focused on state-of-the-art reprocessing of CanAlaska's historic VTEM survey data confirmed the presence of several robust near surface targets which are scheduled to be drilled. For further information visit Fjordland's website at www.fjordlandex.com
On behalf of the Board of Directors,
"Richard C. Atkinson"
Richard C. Atkinson, P.Eng.
President & CEO
For further information, please call: Fjordland Exploration Inc.
Richard C. Atkinson, President and CEO 1-604-805-3232
Some statements in this news release may contain forward-looking information. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/57380