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Fjordland Exploration provides an update on its recent exploration activities at its Voisey’s Bay and Renzy Nickel Copper Projects

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Fjordland Exploration, a mineral exploration company, focused on the discovery of large-scale economic metal deposits in Canada, has provided an update on its recent exploration activities.

Additional Information:

Company: Fjordland Exploration
Website: http://www.fjordlandex.com
Stock Symbol: TSXV: FEX
Date Published: Nov 15, 2021
Transcript: Available

Video Transcript:

I’m Katriina Cotten for Investmentpitch Media

Fjordland Exploration, a mineral exploration company, focused on the discovery of large-scale economic metal deposits in Canada, has provided an update on its recent exploration activities.

The company has received confirmation from Commander Resources, that it has earned its 75% interest in the South Voisey’s Bay Nickel Project.

The South Voisey's Bay Property is located 260 kilometres north-northwest of Goose Bay and 80 kilometres south of the Voisey's Bay nickel, copper, and cobalt mine

It has expended more than $3 million on the project, paid a $40,000 option payment, and issued 400,000 shares.

Fjordland has an option to increase its interest to 100% by funding an additional $5 million in exploration expenses by October 2024 together with a $250,000 cash option payment and issuing 3 million shares.

Ivanhoe Electric, a privately owned US corporation led by Chairman and CEO, Robert Friedland, can earn a 65% interest in the South Voisey’s Bay project by funding Fjordland’s commitments, leaving Fjordland with a residual 35% interest.

Ivanhoe Electric has confirmed it is preparing a budget to fund exploration drilling in 2022 based on the preliminary Superconducting Quantum Interference Device survey results, which indicated new targets at the Worm Intrusion warrant drilling.

Fjordland, as operator, has an agreement to acquire 100% of the Renzy nickel-project located near Maniwaki, Quebec, from Quebec Precious Metals

The project encompasses the former Renzy Mine where during the period from 1969 to 1972, 716,000 short tons were mined with average grades of 0.70% nickel and 0.72% copper.

Recent VTEM heliborne surveying highlighted 3 high-priority target areas that span multiple flight lines and mimic the Renzy Mine anomaly in a new area 10km to 15km south of the Renzy mine on ground that has never been flown for geophysics or drilled in the past.

The company is also currently funding a small survey on its West Milligan copper-gold project, a joint venture with Northwest Copper, located within 4 km of Centerra's Mount Milligan copper-gold mine in central British Columbia.

James Tuer, President and CEO, stated: "I'm very encouraged by this year's exploration results. The work programs have been primarily geophysics-based, building on previous work in areas known for hosting nickel copper deposits. We look forward to presenting the final interpretation from our geophysical contractors, Discovery Geophysics and Geotech, in the near future. In the meantime, we believe that the preliminary data has delivered us some excellent drill targets on both projects. We are in the process of securing the required permitting and a drill contractor for initiating a drill program for Renzy at the beginning of 2022."

The shares are trading at $0.105.

For more information, please visit the company’s website, www.fjordlandex.com, contact James Tuer, President and CEO, 604-688-3415 or email tuer@fjordlandex.com.

I’m Katriina Cotten for Investmentpitch Media