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EV Nickel Signs LOI Forming High-Grade Nickel Joint Venture for Shaw Dome Projects
EV Nickel to contribute W4 deposit, Langmuir #2 Project and selected mining claims covering prospective high-grade nickel stratigraphy Pure North will
About this update from Ev Nickel Inc.
EV Nickel to contribute W4 deposit, Langmuir #2 Project and selected mining claims covering prospective high-grade nickel stratigraphy Pure North will contribute the permitted Hart Deposit, the formerly producing Redstone and McWatters Nickel Mines and exploration lands associated with the associated mining leases Objective to explore and define additional high-grade nickel mineralization EV Nickel will maintain a 40% equity ownership in the new Joint Venture EV Nickel Retains 100% of its large-scale nickel projects including CarLang A and Gemini North deposits TORONTO, ON / ACCESS Newswire / June 23, 2026 / EV NICKEL INC. (TSXV:EVNI) ("EVNi" or the "Company") is pleased to announce the signing of a Letter of Intent ("LOI") on June 17, 2026 to form a new high-grade nickel joint venture (the "Joint Venture") through a strategic partnership with Pure North Resources Inc, a private company which owns the Hart, McWatters and Redstone assets. The Joint Venture will consolidate several of the most prospective high-grade nickel deposits and former producing nickel mines within the Shaw Dome district, creating a focused vehicle to advance development of these assets and unlock shareholder value. Upon closing of the transaction, EV Nickel will contribute its W4 Nickel Deposit and the formerly producing Langmuir #2 Nickel Mine Zone to the Joint Venture in exchange for a 40% equity ownership interest. Pure North Resources will contribute the permitted Hart Deposit Mining Lease with a Certified Closure Plan, the formerly producing Redstone Mine and McWatters Mine properties with the current Pure North Resource shareholders retaining 60% of the combined high-grade assets. The ownership structure was determined based on the relative project status, current and historical mineral resources, permitting status, infrastructure advantages and exploration upside of the contributing assets. "The creation of this high-grade nickel Joint Venture represents a significant milestone in the development of the Shaw Dome district," said Paul Davis, Vice President Exploration of EV Nickel. "The combined asset portfolio already hosts significant high-grade nickel mineralization in current and historical resources and reserves. By bringing together these strategic deposits and former producing mines under a single entity, we have established a strong foundation to advance toward our obj...