Quebec Nickel Corp. Announces Letter of Intent to Acquire the Ecru Property, Nevada

Executive Summary

• Québec Nickel Corp. entered a non‑binding LOI to acquire 100 % of the Ecru Property in Nevada for an aggregate consideration of $505,000 (cash and shares) plus a 2 % NSR royalty.
• The company announced the appointment of Johan Lambrechts, CEO of Antares Metals, to its Board of Directors to support its growth strategy.
• Québec Nickel also disclosed plans for a non‑brokered private placement up to $500,000 at $0.125 per unit (each unit = 1 common share + ½ warrant) to fund general working capital.

Key Details

• Acquisition Terms – Total consideration $505,000:
• $250,000 cash payable on closing.
• $130,000 in Québec Nickel common shares issued at $0.125 per share on closing.
• $125,000 in additional Québec Nickel common shares to be issued within six months of a definitive agreement, priced at the 10‑day VWAP of the Company’s shares at issuance time.
• Royalty – Orogen will receive a 2.0 % net smelter return royalty on any production from the Ecru Property.
• Commitment Fee – Québec Nickel paid a non‑refundable $25,000 fee to Orogen for a 60‑day exclusivity period; this fee will be credited against the cash portion of the purchase price if the transaction closes.
• Closing Conditions – Completion subject to negotiation and execution of a definitive agreement, satisfactory due diligence, customary closing conditions, and regulatory approvals. No assurance that a definitive agreement will be executed.
• Property Overview – Ecru Property comprises 112 mining lode claims in the Cortez/Battle Mountain Trend, adjacent to the prolific Robertson deposit; historic drilling, geophysics, and geochemistry indicate multiple untested targets (intrusive‑related and Carlin‑type potential).
• Board Appointment – Johan Lambrechts appointed to Québec Nickel’s Board of Directors; he is CEO of Antares Metals and brings 20+ years of exploration experience across copper, gold, lead‑zinc‑silver projects.
• Financing Announcement – Non‑brokered private placement up to $500,000:
• Units priced at $0.125 each (1 common share + ½ warrant).
• Whole warrants exercisable for one additional share at $0.225 per share, valid for two years from issuance.
• Offered under the British Columbia Instrument 45‑534 Exemption to existing shareholders (record date = Dec 17 2025) with a $15,000 purchase limit per 12‑month period unless suitability advice is obtained.
• Use of Proceeds – Net proceeds from the financing will be used for general working capital purposes; not tied to the Ecru acquisition.
• Regulatory Notes – Offering subject to CSE approval; securities will have a statutory hold period expiring four months and one day after closing.

Notable Quotes

“We are very pleased to welcome Johan to the Board,” said David Patterson, CEO of Québec Nickel Corp. “His technical expertise, leadership experience in the junior exploration sector, and first‑hand knowledge of advancing projects in well‑established mining jurisdictions will be highly valuable as we evaluate opportunities such as the Ecru Property and continue to build a disciplined, technically driven portfolio.”