Inomin Mines Inc. Receives Approval for Canada Metals Acquisition
Exploration Permits Received for Nickel PropertiesVancouver, Dec. 14, 2020 - Inomin Mines Inc. (TSXV: MINE) announces the receipt of TSX Venture Exchange approval to acquire Canada Metals Ltd. Inomin is acquiring Canada Metals for one million common shares.
Canada Metals is a private Australian company backed by Melbourne-based investment management firm Peak Asset Management Pty Ltd. Inomin welcomes its new Australian shareholders and looks forward to working with Peak on future financing and marketing iniatives.
All securities issued to acquire Canada Metals are subject to a four-month and one day hold period under applicable Canadian securities laws.
Exploration Permits for Beaver and Lynx Nickel Properties
In other business, Inomin has received multi-year exploration permits for the Company's Beaver and Lynx sulphide nickel properties located near Williams Lake in south-central British Columbia. Future planned exploration activities include ground magnetics, trenching, and diamond drilling. Exploration is estimated to commence in spring 2021, subject to regulations related to COVID-19.
Initial exploration at Beaver, including geophysical surveys and diamond drilling programs during 2013 - 2015, demonstrated the property's potential to host large areas of near-surface, disseminated nickel and cobalt, amenable to conventional extraction methods. The less explored Lynx property is geologically similar to Beaver with larger nickel-bearing zones. Lynx also covers the highest nickel stream and lake sediment nickel anomaly in the region.
Further information on the Beaver-Lynx projects, including a NI 43-101 technical report, is available on Inomin's website www.inominmines.com.
About Inomin Mines
Inomin Mines is engaged in the identification, acquisition and exploration of mineral properties especially gold and nickel projects that display strong potential to host significant mineral resources. Inomin is completing the acquisition of the La Gitana and Pena Blanca gold-silver properties in Mexico. The Company holds a 100% interest in the Beaver-Lynx sulphide nickel project in south-central British Columbia, and the Fleetwood zinc-copper-gold-silver VMS project in south-west British Columbia. Inomin also owns 100% of the King's Point gold-copper-zinc project in Newfoundland under option to Maritime Resources Corp. Inomin trades on the TSX Venture Exchange under the symbol MINE. For more information visit www.inominmines.com and follow us on Twitter @InominMines.
Inomin Director, L. John Peters P.Geo, a qualified person as defined by NI 43-101, has reviewed and approved the technical information in this news release.
On behalf of the board of Inomin Mines:
Inomin Mines Inc.
Per: "John Gomez"
President and CEO
For more information please contact:
John Gomez
Tel. 604.566.8703
info@inominmines.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.