EV Nickel Inc.

EV Nickel Inc. is a junior nickel exploration company headquartered in Toronto, Canada, operating primarily in Canada. The company's portfolio consists of 1 development project. Key assets include Shaw Dome. The company's business model is centered on being an independent exploration entity focused on acquiring and advancing mineral properties. A key operational characteristic is a dual-track development approach designed to de-risk both high-grade, smaller-scale deposits and large-scale, lower-grade mineralized systems. The organization differentiates itself through a focus on developing and integrating innovative, low-carbon processing technologies directly into its exploration and development strategy. This includes advancing proprietary processing methods intended to reduce environmental impact and potentially generate secondary revenue streams through carbon management. The operational approach involves systematic exploration, including geophysical and geochemical analysis, followed by targeted drill programs to define and expand mineralized zones. This model aims to add value by advancing assets through critical development milestones, leveraging technical innovation to enhance project economics and appeal to partners or acquirers focused on sustainable resource development. The enterprise actively seeks non-dilutive government funding to support its research and development in these advanced processing technologies, further enhancing its unique position.

The organization's strategic direction is built upon a 2-track development plan. The first track focuses on advancing high-grade deposits toward the production of low-carbon minerals. The second track aims to develop large-scale mineral resources integrated with a Carbon Capture and Storage project, creating a potential for carbon credits to supplement revenue from mineral production. Exploration priorities involve systematic programs consisting of geophysical surveys, surface mapping, and diamond drilling to expand known mineralized zones and test new targets. Capital allocation, as demonstrated by the use of proceeds from recent financings, is directed toward completing multi-phase exploration programs, conducting metallurgical test work, and advancing technical studies for both strategic tracks. The company also pursues non-dilutive funding through government programs to accelerate research into innovative extraction and carbon sequestration methods, which is a core component of its long-term value creation strategy. This approach is designed to position the company as a leader in developing mineral projects with a significantly reduced carbon footprint.

Executive leadership recently underwent a significant transition, with the President and Chief Executive Officer resigning in March 2024. A member of the Board of Directors was appointed as interim Chief Executive Officer, ensuring leadership continuity while a search for a permanent replacement is conducted. The company's governance framework includes policies to manage potential conflicts of interest, as directors may also serve on the boards of other resource companies. In such cases, the conflicted director is required to abstain from voting on the relevant matter. Compensation philosophy for directors and officers incorporates long-term incentives, including restricted share units and stock options with multi-year vesting periods, to align management's interests with long-term shareholder value creation. The departure of the former CEO triggered the immediate vesting of a portion of his options and the expiration of his unvested restricted share units, demonstrating the enforcement of established compensation agreements.

A core element of the company's strategy is the development of a low-carbon mineral production model, supported by specific technological initiatives. The organization is actively advancing bioleaching, a process that utilizes bacteria to extract minerals with potentially zero carbon emissions, and has engaged an engineering partner to manage a bench-scale optimization test program. A second major initiative focuses on developing an integrated carbon capture and storage process. Research has identified highly reactive, magnesium-rich minerals, including brucite and hydrotalcite, within host rocks, indicating a natural potential to sequester significant amounts of CO2. The company has secured non-dilutive funding of $500,000 through the Critical Minerals Innovation Fund to specifically advance these two research streams. In addition to these technological pursuits, the enterprise conducts ongoing surface water baseline monitoring as a proactive measure for future environmental permitting requirements, demonstrating a commitment to environmental stewardship throughout the project lifecycle.

The company was incorporated in January 2021 and has since grown through targeted acquisitions. In March 2021, the entity acquired its initial property package from Rogue Resources Inc. A subsequent major transaction occurred on April 1, 2022, when the company acquired an extensive package of staked mining claims from an arm's-length, privately held exploration company. The consideration for this acquisition included cash, 2.5 million shares, and the establishment of a 2.75% net-smelter royalty agreement with the vendor. This royalty agreement includes a provision allowing the company to re-purchase 50% of the royalty for a fixed cash payment. In September 2023, the company settled a final resource payment owed to Rogue Resources Inc. related to the 2021 acquisition by issuing 3,267,016 common shares. As of June 30, 2024, 2.5 million shares related to the 2022 acquisition remain held in escrow, scheduled for release over subsequent years.