Vancouver, British Columbia , September 13, 2022 – Flying Nickel Mining Corp. (“Flying Nickel” or the “Company”) (TSX-V:FLYN, OTCQB:FLYNF) today announced its Minago Nickel Sulphide project (“The Minago Project”) is expected to have an industry leading low carbon footprint, lower than 99% of existing global nickel production. When in operation, the Minago project is expected to produce 0.99 tonnes of carbon dioxide (CO2) per tonne of nickel-equivalent production over the life of mine. This is 97% lower than the industry average of 33.4 tonnes of CO2 in 2021. The Minago project has received over CAD 70 million in investments since 1966 and is located in the southern part of Manitoba’s Thompson Nickel Belt (TNB).
These results are based on a study by Skarn Associates, a metals and mining ESG research company, applying applicable data from the Minago project. This CO2 footprint estimate does not include the carbon offset expected to be provided from the process of spontaneous mineral carbonation from the tailings and waste rock comprised largely of serpentine rock which naturally absorbs CO2 when exposed to air.
John Lee, Flying Nickel’s CEO states, “Flying Nickel aims to be one of the world’s most environmentally friendly nickel mining company with study demonstrating Minago being top 1% in lowest carbon footprint that utilizes Manitoba’s hydroelectricity, trolley trucks and electric mine fleet. The clean nickel from Minago is ideally suited to go into high performance nickel batteries powering modern Electric Vehicles.”
The capital expenditure is expected to be minimized with Manitoba Provincial Highway 6 and a high-voltage (230 kV) transmission line both within 2km from the Minago resource. Vale currently produces nickel concentrates in Thompson 270 km northeast of the Minago project. Vale’s nickel concentrates are transported south to its Sudbury smelter for processing to refined nickel.
Figure 1: Nickel GHG Intensity Curve – CO2e Intensity (tCO2e/t Ni eq.)*
About Skarn Associates
Skarn’s mission is to bridge the research gap between mine economics and ESG. Skarn focuses on creating high quality, independent, forward-looking mining sector ESG analysis, especially energy use and carbon emissions from mining, smelting and refining operations. Commodities covered include nickel, gold, aluminum, zinc, iron ore, metallurgical coal and copper. Skarn has become a leader in mining sector greenhouse gas benchmarking, having developed unique methodologies and datasets, including its proprietary E0 and E1™ emissions metrics.
Skarn Associates’ proprietary GHG intensity metrics Scope 1 and Scope 2 relates to mine site emissions from mining and processing of ore, plus fugitive emissions (indirect GHG emissions – generally represented by electricity purchased by the mine from the grid). It includes emissions from integrated smelting and refining facilities, but excludes emissions from third-party smelting and refining. Emission intensities are stated on a recovered nickel-equivalent basis, calculated using average 2021 metal prices. Emissions are pro-rated across all commodities produced by the mine, based on contribution to gross revenue.
For more information visit www.skarnassociates.com.
About Flying Nickel
Flying Nickel Mining Corp. is a premier nickel sulphide mining and exploration company. The company is advancing its 100% owned Minago nickel project in the Thompson nickel belt in Manitoba, Canada.
Further information on the Company can be found at www.flynickel.com.
FLYING NICKEL MINING CORP.
ON BEHALF OF THE BOARD
John Lee
Interim Chief Executive Officer
For more information about the Company, please contact:
Phone: Phone: 1.877.664.2535 / 1.877.6NICKEL
Email: info@flynickel.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, including statements which may contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management’s expectations regarding Flying Nickel’s future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.
These factors should be considered carefully, and readers should not place undue reliance on the Flying Nickel’s forward-looking statements. Flying Nickel believes that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given that these expectations will prove to be correct. In addition, although Flying Nickel has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Flying Nickel undertakes no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.
