13 September 2022
(“Evrima” or the “Company”)
Investee Update: Premium Nickel Resources Ltd announce Formation of Premium Nickel Resources International Metals Group
Evrima is pleased to provide an update on its investee company, Premium Nickel Resources Ltd (“PNRL” or “Premium Nickel”)(TSX-V: PNRL) with respect the creation of Premium Nickel Resources International Metals Group (PNR International Metals), a new metals division of the Company.
Evrima holds 1,114,115 shares in TSX-V listed Premium Nickel Resources (TSX-V: PNRL), an intermediate global nickel copper-cobalt company with assets in Botswana, Greenland, Canada, and Morocco. PNRL is currently focussing its efforts on advancing its 100% owned flagship project, the Selebi Mines and Selkirk Mine in Botswana.
PNR International Metals Group will develop direct relations with end consumers in the base metals markets, including electric vehicle ("EV") battery manufacturers, with the intent to bridge information gaps and provide the Company with critical access to world markets and real-time information that will aid in decisions involving the production and sale of the nickel, copper, cobalt and platinum group elements ("Ni-Cu-Co-PGE") that potentially could be produced principally from our 100% owned Selebi and Selkirk mines in Botswana.
Simon Grant-Rennick, Evrima Plc Chairman, has been appointed as Managing Director of PNR International Metals Group.
PNR International Metals Group is made up of internationally recognied individuals including Neil Jamieson, Simon Grant-Rennick and Christopher Messina. This globally positioned team brings a wealth of experience, leadership and a diverse knowledge of the capital and metals market, including industrial metals, pricing and trading, supply chain, international relations and nickel and copper mining and processing operations. The extensive expertise of PNR International Metals will be leveraged to provide insight on technological developments and potential new product iterations of nickel and copper with the added benefit of constant flow of information to the Company as to the requirements and characteristics of new battery developments, commodity pricing and related commodity deal structures.
The Directors of Evrima accept responsibility for this announcement.
This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).
David Coffman / Lucy Bowden: + 44 (0) 20 7399 9400
PNRL is a Canadian company dedicated to the exploration and development of high-quality nickel copper +cobalt resources. PNRL believes that the medium to long-term demand for these metals will continue to grow through global urbanisation and the increasing replacement of internal combustion engines with electric motors. Importantly, these metals are key to a low-carbon future. PNRL maintains a skilled team with strong financial, technical and operational expertise to take an asset from discovery to exploration to mining.
PNRL has focused its efforts on discovering world class nickel sulphide assets in jurisdictions with rule-of-law that fit a strict criteria that comply with PNRL's values and principles which stand up and surpass the highest acceptable industry standards. PNRL is committed to governance through transparent accountability and open communication within our team and our stakeholders.
On January 31, 2022, PNRL closed the acquisition of PNRL's flagship asset, the Selebi Mine. The Selebi Mine includes two shafts, (Selebi and Selebi North shafts) and related infrastructure (rail, power and water). Shaft sinking and plant construction started in 1970. Mining concluded in October 2016 when the operations were placed on care and maintenance due to a failure in the separate and offsite processing facility. The Selebi Mine was subsequently placed under liquidation in 2017.
The proposed work plan for the Selebi Mine includes diamond drilling which is expected to be ongoing for up to 18 months. During that time, additional metallurgical samples will be collected and sent for more detailed studies. The underground infrastructure at Selebi North will be upgraded to support an underground drilling program as well as improve health & safety.
In addition, PNRL is evaluating direct and indirect nickel asset acquisition opportunities globally, and also: (i) holds 100% interest in the Selkirk Mining Licence and four Prospecting Licenses in Botswana, (ii) holds a 100% interest in the Maniitsoq property in Greenland, which is a camp-scale permitted exploration project comprising 3,048 square kilometres covering numerous high-grade nickel-copper + cobalt-sulphide occurrences associated with norite and other mafic-ultramafic intrusions of the Greenland Norite Belt; (iii) holds a 100% interest in the Post Creek/Halcyon property in Sudbury, Ontario which is strategically located adjacent to the past producing Podolsky copper-nickel-precious metal sulphide deposit of KGHM International Ltd.; (iv) holds a 100% ownership of property in the Quetico region near Thunder Bay, Ontario; and (v) is expanding its area of exploration interest into Morocco.