Florence Lake

The Florence Lake property contains high-grade nickel, copper, cobalt & PGE mineralization associated with ultramafic volcanic rocks.

The known mineralization is analogous to Northern Quebec’s Raglan Nickel Mine which has multiple orebodies, or Kambalda mines in Western Australia.

The project is located close to local communities, airports, ports and a ferry service.  The proposed North Labrador Road currently at the feasibility study level, would be a game changer for the project and coastal Labrador, with the road passing within 15km of the property.  Postville’s harbour and wharf would be upgraded to become Labrador’s primary deepwater port.

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Florence Lake Infrastructure

•Two blocks covering 104,000ha (104km²)

• 20 Person camp established on Florence Lake in the centre of the property Only 70 km from the towns of Postville and Hopedale

• Regular scheduled flights and ferries

• Allows for supplies to be shipped, project only 25 km from tidewater

• Drilling equipment and supplies can be shipped for huge savings

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Florence Lake Geology

Massive and disseminated magmatic Ni-Cu-PGE mineralization related to ultramafic komatiitic volcanics in Archean greenstone belt.

Florence Lake Mineralization

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DDH FLK92-02 at the Baikie Showing:

over 11.32m (including 10.6% nickel over 0.9m) with the deepest hole at -90m

• Grab samples returned up to 9.22% nickel, 0.49% copper, 0.23% cobalt, and 1718 ppb Palladium and Platinum.

• Resampling historical core and showings confirmed high grades

• Core still available for further work

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Baikie Nickel Showing

Baikie Nickel Showing Intercepts

2022-23 Exploration:

• VTEM Survey and ~3500 soil samples collected thus far

•  Data suggests a large amount of conductivity to investigate, much of it correlates with known sulphide-bearing horizons, but numerous new high-priority targets identified

• Geology misunderstood in the past and is now confirmed the the younger volcanic rocks lie to the west of the Baikie horizon – ie. Youngest extrusions have the best metal potential

• Lithogeochemistry confirms that rocks in the younger volcanics have the better nickel potential (see technical report)

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• Seahorse Lake Belt has potential for more high-grade Kambalda style mineralization, as well as large low-grade Peridotite/Dunite hosted nickel deposits similar to those in Timmins area Coherent magnetic and soil geochem anomaly over ~10km – huge tonnage potential

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