Sulliden Mining Acquires Portion of Nickel, Zinc, and Lead Mining Exploration Project in Poland

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[{"type":"text","content":" TORONTO, April 07, 2025 (GLOBE NEWSWIRE) -- Sulliden Mining Capital Inc. (“Sulliden” or the “Company”) (TSX: SMC) is pleased to announce that it has indirectly acquired a 5.2% interest in a nickel, zinc, and lead mining exploration project in Poland (the “Project”) through the purchase of 10% of the issued and outstanding shares of Sustainable Royalty Corp. (the “Target”), a private company, from Mr. Stan Bharti (the “Vendor”), a former chief executive officer and director of the Company (the “Acquisition”). The Project consists of the Szklary and Dabrowka concessions, each as described in greater detail below. Pursuant to a share purchase agreement respecting the Acquisition dated April 3, 2025, Sulliden acquired a 10% equity interest in the Target (or 1,000,000 of the Target’s issued and outstanding common shares), with Mr. Bharti retaining a 63% interest. The Target owns 52% of Ferrite Resources Polska sp. Z.o.o., a company incorporated in Poland, which owns 100% of the Szklary and Dabrowka concessions. As consideration, Sulliden paid an aggregate of C$100,000 to the Vendor and committed to spending an additional 250,000 euros on the Project within six months of closing. The Acquisition was an arm’s length transaction for purposes of the policies of the Toronto Stock Exchange (“TSX”). No finder fees were paid in connection with, and no change of control of Sulliden resulted from, the Acquisition. Szklary is a nickel laterite deposit located approximately 50km south of Wroclaw, Poland. The deposit forms N-S striking elongated ridge with the Ni-laterite exposed in the first 20m below surface. Historical production is recorded as 3.5 Mt @ 0.79% Ni = 28,000 tonnes. Approximately 2,500 holes were drilled in the past during the Soviet era, and a technical report was previously prepared that is compliant with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) for the central part of the property (Redstone Exploration Service, February 2022). However, because of the absence of drillcore, the Company expects that an extra 30 holes will be drilled to confirm the historical inferred mineral resource described in the report. Mining would skim the laterite, and ongoing exploration is expected by the Company to investigate the as yet unexplored sulphite deposit at depth. Szklary has a JORC-compliant hist...

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