13:39:53 EDT Sat 20 Jul 2019
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Royal Nickel Corp
Symbol C : RNX
Shares Issued 377,030,046
Close 2018-08-31 C$ 0.095
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Royal Nickel, Arpent award FS update to Ausenco

2018-09-04 08:20 ET - News Release

Mr. Mark Selby reports


Ausenco Engineering Canada Inc. has been awarded the contract for a feasibility study update for the Dumont nickel-cobalt project, a joint venture between Royal Nickel Corp. and Arpent Inc., a subsidiary of Waterton Precious Metals Fund II Cayman LP and Waterton Mining Parallel Fund Offshore Master LP. Ausenco has led all of the earlier prefeasibility and feasibility studies completed on the project. Ausenco, in conjunction with Duro Fulguera, also completed additional engineering work in 2015 to develop an EPC lump sum turnkey proposal for approximately 72 per cent of the capital cost (see Royal Nickel's news release dated Aug. 4, 2015).

The feasibility study update will maintain the same project scope, flowsheet and overall site layout from the feasibility study completed in July, 2013, in order to leverage the investment in the prior work. The updated feasibility study will incorporate the results of the market value-in-use study recently completed by the joint venture, updated macro-economic assumptions and several other optimizations and updates, including an updated mine plan, optimization of tailings deposition, and updated capital and operating costs. The results of the updated feasibility study are expected to be announced in the first half of 2019.

"We are very pleased to work again with the high-calibre team from Ausenco and supporting engineering firms to complete the feasibility study update as we work toward our goal of making a construction decision in 2019," said Mark Selby, president and chief executive officer of Royal Nickel. "These engineering and consulting firms have a deep level of knowledge and experience from their previous work, both at Dumont and other large open-pit mining projects in Canada and abroad. I look forward to the updated feasibility study results confirming the inherent value in the structurally low-cost Dumont nickel-cobalt project, which is well positioned to deliver the additional nickel and cobalt required by the early 2020s to meet strong demand growth from the stainless steel and electric vehicle markets. Dumont remains one of the world's premier battery metals projects containing the world's largest undeveloped reserves of nickel and second largest undeveloped reserves of cobalt (1)."

(1) Source: S&P Global Market Intelligence, company reports (also see Royal Nickel's news release dated Jan. 15, 2018).

About RNC Minerals (Royal Nickel Corp.)

RNC is a multiasset mineral resource company with a portfolio of nickel, cobalt, and gold production and exploration properties. RNC has a 28-per-cent interest in a nickel joint venture with Waterton that owns the Dumont nickel-cobalt project located in the Abitibi region of Quebec which contains the second-largest nickel reserve and eighth-largest cobalt reserve (the largest undeveloped nickel reserve and second-largest undeveloped cobalt reserve in the world). RNC has a 100-per-cent interest in the producing Beta Hunt gold and nickel mine located in Western Australia and a 35-per-cent interest in Orford Mining Corp., a mineral explorer focused on highly prospective and underexplored areas of Northern Quebec and the Carolina gold belt in the United States.

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