FPX Nickel Signs Exploration Agreement with Takla Nation for Klow Property

Executive Summary

• FPX Nickel Corp. signed an Exploration Agreement with the Takla Nation to enable responsible early‑stage exploration on the Klow Property in central British Columbia.
• The agreement supports a previously disclosed earn‑in arrangement with JOGMEC, which grants JOGMEC an option to acquire a 60 % beneficial interest by spending $1 million on exploration by March 31 2027 (extended deadline).
• Historical drilling at Klow (hole DH‑4) intersected 316 m @ 0.10 % Ni‑in‑alloy, and recent Davis Tube Recoverable analysis shows nickel grades 7–10 % higher than original results, underscoring the property's potential.

Key Details

• Exploration Agreement with Takla Nation – establishes protocols for engagement, environmental protection, employment, training, and business opportunities; enables planning for future exploration activities.
• Historical drilling (2012) – 5‑hole, 1,579 m program; Hole DH‑4: 316 m @ 0.10 % nickel‑in‑alloy from 10 m depth.
• 2024 DTR re‑analysis – archived core samples from DH‑4 show Davis Tube Recoverable nickel grades averaging 7–10 % higher than original Ni‑in‑alloy values.
• Klow Earn‑In Agreement (JOGMEC) – JOGMEC may earn a 60 % interest by funding $1,000,000 in exploration expenditures no later than March 31 2027 (deadline extended from 2026).
• Post‑earn‑in funding – parties will fund subsequent exploration pro rata to ownership percentages.
• Royalty conversion clause – if a party’s beneficial interest falls below 10 %, it converts to a 1.5 % NSR royalty; the other party may buy back 1.0 % of that royalty for $3,500,000.
• Surface sampling program (summer 2025) – fully funded by Japan Organization for Metals and Energy Security (JOGMEC); results to feed into future exploration planning.
• Property expansion – Klow mineral claims expanded in 2024 to 251 km², covering prospective ultramafic rocks of the Trembleur Ultramafite.

Notable Quotes

“This Agreement underscores our commitment to engagement with Indigenous communities from the earliest stages of our exploration work,” — Martin Turenne, President, CEO & Director, FPX Nickel Corp.

“The signing of this agreement marks an important step in strengthening our relationship with FPX… we look forward to working collaboratively … to protect our lands and ensure shared benefits for our community.” — Chief John French, Takla Nation.