Mining Icon Rob McEwen Backs Power Nickel with $2 Million Investment

In a resounding show of support for Power Nickel's prospects, celebrated Mining Hall of Famer Rob McEwen has spearheaded a $2 million investment in the company, bringing a renewed vigor to the world of high-grade Nickel sulfide projects. The financing, which marks the initial closing of Power Nickel's private placement, sets the stage for robust exploration and potential growth.

The private placement, announced on October 16, 2023, has successfully secured CAD $2 million by offering 4,000,000 flow-through units (FT Units) at a price of $0.50 per FT Unit. The proceeds from this investment will underpin Power Nickel's exploratory activities throughout 2024 and will lead to the company's inaugural NI-43-101 mineral resource report on the NISK property, scheduled for release in November.

Rob McEwen, an industry luminary renowned for his instrumental role in the creation and operation of the Red Lake Mine in Ontario, a multi-billion-dollar venture, displayed unwavering faith in Power Nickel by acquiring 2,000,000 FT Units, representing a 1.4% ownership stake. McEwen, also the chairman of McEwen Mining Inc., brings his immense industry experience to bolster Power Nickel's position in the market.

Power Nickel CEO Terry Lynch expressed gratitude for the investment, highlighting the confidence McEwen's involvement instills in the company's potential. Lynch emphasized the significance of their NISK project, believing it to be the world's most undervalued high-grade Nickel sulfide project.

This financing solidifies Power Nickel's ambitions and positions them firmly on a trajectory towards redefining the valuation dynamics within the high-grade Nickel sulfide projects sector. The company is poised to reap the benefits of McEwen's support as they venture into a pivotal phase of exploration. As the company gears up to close the remaining $750,000 in the offering, all signs point to a promising future for Power Nickel, its investors, and the mining industry as a whole.

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