Nearctic Nickel Mines Inc.

September 09, 2015 13:00 ET

Motion Brought to Revoke Homologation of the 2014 Arbitration Award Rendered by J-L Baudouin

MONTREAL, QUEBEC--(Marketwired - Sept. 9, 2015) - Nearctic Nickel Mines Inc. the "Company" announces that it and its indirect Quebec subsidiary, Ungava Mineral Exploration Inc., UMEI, have recently brought a motion to set aside the homologation of the 2014 arbitration award rendered by J-L Baudouin. That award ordered that UMEI's remaining 20% interest in the Expo Ungava Property, consisting of over 500 CDC claims, be transferred to Canadian Royalties Inc. "CRI", as well as "all interest" in three mining leases created out of territory taken from the Expo Ungava Property in 2008, of which CRI was the sole lessee holding 100% interest.

The Petitioner's Motion in Revocation of Judgment will be filed as a Schedule to the Material Change Report to be filed in connection with this Press Release, as will be the J-L Baudouin Decision dated August 27, 2014 and the Decision of Rectification dated September 24, 2014.

This news release contains forward-looking statements within the meaning of "safe harbour" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors which may cause the Company's results to differ materially from expectations. These include risks relating to market fluctuations, investee performance and other risks. These forward-looking statements speak only as of the date hereof. The Company disclaims any intent or obligation to update these forward-looking statements.

Issued and Outstanding

28,263,276 Common Shares

Contact Information

  • Nearctic Nickel Mines Inc.
    Glen Erikson
    President
    (905) 274-3164