TORONTO, March 6, 2019 /CNW/ - Murchison Minerals Ltd.
("Murchison" or the "Company") (TSXV: MUR) is pleased
to announce that, following the approval of the TSX Venture
Exchange, it has completed the acquisition of Pure Nickel Inc.'s
50% interest in the HPM nickel-copper-cobalt project in Québec (the
"Property") by making the required $50,000 payment and issuing 500,000 common shares
of the Company to Pure Nickel (see press release dated February 28, 2019). The Company now
owns 100% of the Property.
Also, the Company announces that it has granted 665,000 stock
options to directors and key consultants of the Company. The
stock options are exercisable for a period of 5 years at a price of
$0.095 and vest immediately.
About the HPM Project:
The HPM (Haut Plateau du
Manicouagan) property consists of 51 claims covering 2,726
hectares.
The Property is underlain in part by the composite Gabbro Est
intrusive, which hosts several grass roots nickel-copper-cobalt
showings. Significant historical prospects were found by
Falconbridge Ltd. ("Falconbridge", now known as Glencore) and
include: Barre de Fer (1.74% Ni, 0.90% Cu and 904ppm Co over 43.18
metres from the 2008 drill program) and the PYC showing (0.59% Ni
and 0.93% Cu from surface grab samples and 15.3 metres of
disseminated to semi-massive sulphides grading 0.28% Ni, 0.14% Cu
and 626 ppm Co from a single hole drilled by Xstrata Nickel in
2000).
The Property is located approximately 290 km north of
Baie-Comeau and 180 km
north-northwest of Sept-Îles. The property is accessible by
helicopter and is located approximately 20 km east of Route 389, an
all-weather road connecting Baie-Comeau to Fermont to Labrador
City.
About Murchison Minerals Ltd.
Murchison Minerals Ltd.
is a Canadian based exploration company focused on the exploration
and development of the 100% owned Brabant-McKenzie
zinc-copper-silver project in north-central Saskatchewan. The Company also has a 100%
interest in the HPM nickel/copper/cobalt project in Quebec. Murchison has 44.7 million shares
issued and outstanding .
Additional information about Murchison and its exploration
projects can be found on the Company's website at
www.murchisonminerals.com.
Forward-Looking Information
Certain
information set forth in this news release may contain
forward-looking information that involves substantial known and
unknown risks and uncertainties. This forward-looking information
is subject to numerous risks and uncertainties, certain of which
are beyond the control of the Company, including, but not limited
to, the impact of general economic conditions, industry conditions,
and dependence upon regulatory approvals. Readers are cautioned
that the assumptions used in the preparation of such information,
although considered reasonable at the time of preparation, may
prove to be imprecise and, as such, undue reliance should not be
placed on forward-looking information. The parties undertake no
obligation to update forward-looking information except as
otherwise may be required by applicable securities law.
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.
SOURCE Murchison Minerals Ltd.
