TORONTO, April 26, 2022 /CNW/ – Nickel Creek Platinum Corp. (TSX: NCP) (“Nickel Creek“or the”Company“) is pleased to announce that it intends to conduct a drilling program in 2022 on its 100% owned Nickel Shäw project (the “Project“) located in the Yukon, Canada and a private placement project without intermediary.

The Company proposes to sell, in a non-brokered private placement, up to approximately 41.2 million units (the “Units“) of the Company at the price of $0.085 per unit and “flow-through units” (the “FT units“) at a price to be determined in the context of the market. The Company is targeting aggregate gross proceeds of approximately $2.5 millionbut may issue Units and FT Units for aggregate gross proceeds to the Company of up to approximately $3.5 million (collectively, the “Private placement“).

Each Unit will consist of one ordinary share in the capital of the Company (each, a “Ordinary share“) and one-half common share purchase warrant (each whole common share purchase warrant, one “To guarantee“), each warrant exercisable for one common share (each, a “Warrant action“) at an exercise price of $0.125 for a period of three (3) years from the date of issue, subject to adjustment in the event of certain customary events. Each FT Unit will consist of one common “flow-through” share (each, a “FT Sharing“) and one-half common share warrant (each whole FT share warrant, one “Mandate FT“), each FT warrant exercisable for one common share (each, a “FT Warrant action“) at an exercise price of $0.125 for a period of three (3) years from the date of issue, subject to adjustment in the event of certain customary events. The Warrants and Warrants FT, if exercised in full by their holders, would represent additional gross proceeds for the Company of approximately $5.1 million.

On April 20, 2022the Company announced that its major shareholder, Electrum Strategic Opportunities Fund LP (“Electrum“), exercised approximately 11.4 million warrants for approximately $911,000. Electrum has indicated that it will invest an additional amount $100,000 in the Private Placement for a total investment exceeding $1.0 million.

Net proceeds from the private placement will be used to fund the company’s 2022 drilling program (see below), strategic opportunity exploration, ongoing permitting activities and project holding costs, as well as general corporate expenses and working capital, with all gross proceeds from the sale of any FT Units used by the Company solely to fund “Canadian exploration expenses” which shall be referred to as “flow-through mining expenses », each as defined under income tax law (Canada).

In accordance with multilateral instrument 61-101 – Protection of holders of minority securities in special transactions (“MI 61-101“), the Private Placement would constitute a “related party transaction”, as Electrum (and certain other insiders of the Company) would subscribe for Units or FT Units. minority shareholders of MI 61.-101, given that the fair market value of any Unit or FT Unit subscribed by insiders under the Private Placement will not exceed 25% of the market capitalization of the Company.

The closing of the private placement remains subject to the approval of the Toronto Stock Exchange and other closing conditions customary for a transaction of this nature. The Units and FT Units will be issued pursuant to a private placement pursuant to exemptions from prospectus requirements under applicable securities laws. Common Stock, FT Shares, Warrants and FT Warrants (and all Warrant Shares and/or FT Warrant Shares, as applicable) will be subject to a statutory hold period of four months and one day from the date of issue of the Units and FT Units.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities of United States nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act“), or any state securities law and may not be offered or sold in United States unless registered under the 1933 Act and any applicable securities laws of any state of United States or an applicable exemption from the registration requirements is available.

2022 drilling program

An exploration program is planned for the 2022 field season to collect data to facilitate the completion of a pre-feasibility study (“PSFThis work will include PFS drilling on the Wellgreen Deposit to support the conversion of Inferred Mineral Resources to Indicated Mineral Resources and to collect additional geotechnical and hydrogeological data. Additional information will also be collected to characterize the proposed landfill and tailings sites. .Also planned on the Arch exploration target to define the extent of mineralization.

On November 29, 2021, the Company announced the full results of its 2021 drilling and geophysical program. A series of holes in the Arch target intersected massive to semi-massive sulphides overlain by significant thicknesses of disseminated sulphides. These intervals graded 0.32% to 1.41% Ni, 0.14% to 0.69% Cu and 0.45 g/t to 2.49 g/t TPM on 12.4m for 23.7m intervals (core lengths downhole) in nine holes.

The Company will focus the 2022 field program on supporting PFS work. This program may be adjusted or modified depending on the amount of proceeds received from the Private Placement.

Scientific and technical information

The scientific and technical information disclosed in this press release has been reviewed and approved by Cam Bellan independent geologist under consulting contract with the Company and a “qualified person” within the meaning of National Instrument 43-101 – Disclosure Standards for Mining Projects.

About Nickel Creek Platinum Corp.

Nickel Creek Platinum Corp. (TSX: NCP; OTCQB: NCPCF) is a Canadian mining exploration and development company and its flagship asset is its 100% owned Nickel Shäw project. The Nickel Shäw Project is a large undeveloped nickel sulphide project in one of the most favorable jurisdictions in the world, with a unique mix of metals including copper, cobalt and platinum group metals. The Nickel Shäw project has exceptional access to infrastructure, located three hours west of White horse via the pavement Alaska Highway, which additionally provides year-round access to deep-sea shipping ports in southern Alaska. The Company is also exploring other opportunities to create shareholder value.

The Company is led by a management team with a proven track record in discovering, developing, financing and operating large-scale projects. Our vision is to create value for our shareholders by becoming one of North America’s leading producers of nickel, copper, cobalt and PGMs.

Caution Regarding Forward-Looking Information

This press release contains certain information that may be considered “forward-looking information”. Forward-looking information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “believe”, “continue”, ” provides” or similar terminology, or its negative connotations. All information contained in this release, other than information of historical facts, including, without limitation, statements relating to the Private Placement and the timing of the closing of the Private Placement, statements regarding exploration programs , drilling, geophysical and sampling operations (and the results and potential results thereof), as well as general future plans and objectives of the Company and the Nickel Shäw Project, are forward-looking information that involves various risks and uncertainties. Although the Company believes that the expectations expressed in such forward-looking information are based on reasonable assumptions, such expectations are not guarantees of future performance and actual results or developments may differ materially from those contained in the forward-looking information.

For additional information about the Company and key assumptions, risks and challenges regarding the forward-looking information presented herein, and about our business generally, investors should consult the Company’s most recently filed Annual Information Form and other continuous disclosure documents. which are available at Readers are cautioned not to place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

SOURCENickel Creek Platinum Corp.

For further information: Nickel Creek Platinum Contact: Stuart Harshaw, President and CEO, 1-416-304-9318, [email protected]

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