SPC Nickel extends West Graham feasibility timeline

Executive Summary

• SPC Nickel Corp. has amended its co-operation agreement with Vale Canada Ltd. regarding the West Graham project, extending the deadline for the feasibility study by one year to June 30, 2027.
• The amendment also extends the corresponding option period for delivering a NI 43-101 mineral resource statement and prefeasibility study from June 30, 2028, to June 30, 2029.
• The company highlights significant progress to date, including a maiden mineral resource estimate, a positive prefeasibility metallurgical study, and over 16,700 meters of drilling.

Key Details

• Agreement Amendment: The co-operation agreement dated Jan. 19, 2023, with Vale Canada Ltd. has been amended, effective March 27, 2026.
• Feasibility Study Deadline: Extended from June 30, 2026, to June 30, 2027.
• Option Extension: The option available to SPC Nickel upon delivery of a NI 43-101-compliant mineral resource statement and a prefeasibility study is extended from June 30, 2028, to June 30, 2029.
• Project Status: West Graham is located in the Sudbury basin. All other terms of the co-operation agreement remain unchanged.
• Maiden Mineral Resource Estimate:
  • Indicated Resources: 19.3 Mt grading 0.42% Ni and 0.28% Cu.
  • Inferred Resources: 3.3 Mt grading 0.37% Ni and 0.28% Cu.
  • Source: NI 43-101-compliant technical report dated Dec. 4, 2023.
• Drilling Progress: Total drilling of 16,726 metres in 103 holes completed to the end of 2025.
• Metallurgical Study: Completion of a prefeasibility level metallurgical study.
• Future Plans: The company plans to continue evaluating economic viability toward a production decision.

Notable Quotes

• "Having delivered a maiden mineral resource estimate within just 12 months of commencing work, completed a positive prefeasibility level metallurgical study and drilled over 16,700 metres, West Graham is now established as a well-defined, scalable nickel-copper resource in one of the world's leading mining jurisdictions. This amended co-operation agreement provides the meaningful runway we need to advance methodically toward a feasibility study -- the logical next step for a deposit of this scale and quality in the Sudbury basin. We remain focused on advancing the project in a disciplined and systematic manner as we build on the impressive progress made to this point." — Grant Mourre, CEO and Director, SPC Nickel