Vancouver, British Columbia--(Newsfile Corp. - December 13, 2023) - Nickel North Exploration Corp. (TSXV: NNX) ("Nickel North" or the "Company") wishes to provide an update on the previously announced option agreement (the "Option Agreement") with 1844 Resources Inc. ("1844"), pursuant to which the Company has agreed to sell a 100% undivided interest (the "Transaction") in the Hawk Ridge nickel-copper project comprised of 411 mineral claims covering 179 km2 in the Ungava Bay on the east coast of Quebec (the "Hawk Ridge Project").

The Company and 1844 have entered into an amended and restated option agreement (the "Amended and Restated Option Agreement") with respect to the Option Agreement, pursuant to which the parties have agreed to amend the payment terms and conditions of the Option Agreement as follows:

Upon entering into the Amended and Restated Option Agreement, the Company received from 1844 a non-refundable deposit of $15,000 in cash and, upon receiving TSX Venture approval of the Amended and Restated Option Agreement, 1844 will pay the Company $335,000 in cash and issue to the Company 5,000,000 common shares in the capital of 1844.

1844 will be entitled to acquire a 20% undivided interest in the Hawk Ridge Project on the first anniversary of the date that is two business days following the approval of the Amended and Restated Option Agreement by the TSX Venture Exchange (the "Effective Date") by paying $350,000 and issuing 4,000,000 common shares of 1844 to the Company and incurring $500,000 of exploration expenditures before the first anniversary of the Effective Date (the "First Option").

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https://nnexploration.com/news/nickel-north-provides-update-on-option-agreement-t-6944/