Canadian North Resources Inc. Announces Amendments to Consultants' Options
March 21 2024 - 5:35PM
Canadian North Resources Inc. ("the Company,"
TSXV: CNRI; OTCQX: CNRSF; FSE: EO0 (E-O-zero)) announces that,
subject to acceptance by the TSX Venture Exchange, it proposes to
amend the exercise price of options to purchase a total of
1,600,000 Common Shares from $2.45 to $1.70 per share, for options
previously granted to consultants to the Corporation.
About Canadian North
Resources
Canadian North Resources Inc. is an exploration
and development company focusing on the critical metals for the
clean-energy, electric vehicles, battery and high-tech industries.
The company is advancing its 100% owned Ferguson Lake nickel,
copper, cobalt, palladium, and platinum project that covers an area
of 253.8 km2 of mining leases (96.9 km2) and surrounding
exploration claims (156.9 km2) in the Kivalliq Region of Nunavut,
Canada.
The Ferguson Lake mining property contains
substantial resources in compliance with NI43-101 standards, which
include Indicated Mineral Resources of 66.1 million tonnes
(Mt) containing 1,093 million pounds (Mlb) copper at 0.75%, 678Mlb
nickel at 0.47%, 79Mlb cobalt at 0.05%, 2.34 million ounces (Moz)
palladium at 1.10gpt and 0.42Moz platinum at 0.19gpt; Inferred
Mineral Resources of 25.9 Mt containing 558Mlb copper at 0.98%,
333Mlb nickel at 0.58%, 40Mlb cobalt at 0.07%, 1.12Moz palladium at
1.43gpt and 0.21Moz platinum at 0.25gpt. The Mineral
Resource Model indicates potential for continued Mineral Resource
expansion along strike and at depth over the 15-km long main
mineralized horizon and within the open satellite mineralized
zones. (Refer to the press release “Canadian North Resources
Reports Substantial Increase of Copper, Nickel, Cobalt, Palladium
and Platinum NI 43-101 Compliant Mineral Resources for its 100%
owned Ferguson Lake Project in Canada” dated March 19, 2024,
available on the Company’s website and Sedar+. The technical report
on the resource estimates, which is being prepared in accordance
with National Instrument 43-101 (“NI 43-101”), will be available on
SEDAR+ (www.sedarplus.ca) under the Company’s issuer profile within
45 days.) The effective date of the current Mineral Resource
Statement is March 19, 2024.
For further information contact:
Sophy Cesar, Corporate Development
Phone: 905-696-8288 (Canada) 1-888-688-8809
(Toll-Free)
Email: info@cnresources.com
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking
Statements
Certain statements contained in this news
release, including statements which may contain words such as
“expects”, “anticipates”, “intends”, “plans”, “believes”,
“estimates”, or similar expressions, and statements related to
matters which are not historical facts, are forward-looking
information within the meaning of applicable securities laws. Such
forward-looking statements, which reflect management’s expectations
regarding the Company’s future growth, results of operations,
performance, business prospects and opportunities, are based on
certain factors and assumptions and involve known and unknown risks
and uncertainties which may cause the actual results, performance,
or achievements to be materially different from future results,
performance, or achievements expressed or implied by such
forward-looking statements.
These factors should be considered carefully,
and readers should not place undue reliance on the Company’s
forward-looking statements. The Company believes that the
expectations reflected in the forward-looking statements contained
in this news release and the documents incorporated by reference
herein are reasonable, but no assurance can be given that these
expectations will prove to be correct. In addition, although the
Company has attempted to identify important factors that could
cause actual actions, events or results to differ materially from
those described in forward looking statements, there may be other
factors that cause actions, events or results not to be as
anticipated, estimated or intended. The Company undertakes no
obligation to release publicly any future revisions to
forward-looking statements to reflect events or circumstances after
the date of this news or to reflect the occurrence of unanticipated
events, except as expressly required by law.
Canadian North Resources (TSXV:CNRI)
Historical Stock Chart
From Jul 2024 to Aug 2024
Canadian North Resources (TSXV:CNRI)
Historical Stock Chart
From Aug 2023 to Aug 2024