TORONTO, April 07, 2025 (GLOBE NEWSWIRE) -- Sulliden Mining Capital Inc. (“Sulliden” or the “Company”) (TSX: SMC) is pleased to announce that it has indirectly acquired a 5.2% interest in a nickel, zinc, and lead mining exploration project in Poland (the “Project”) through the purchase of 10% of the issued and outstanding shares of Sustainable Royalty Corp. (the “Target”), a private company, from Mr. Stan Bharti (the “Vendor”), a former chief executive officer and director of the Company (the “Acquisition”). The Project consists of the Szklary and Dabrowka concessions, each as described in greater detail below.
Pursuant to a share purchase agreement respecting the Acquisition dated April 3, 2025, Sulliden acquired a 10% equity interest in the Target (or 1,000,000 of the Target’s issued and outstanding common shares), with Mr. Bharti retaining a 63% interest. The Target owns 52% of Ferrite Resources Polska sp. Z.o.o., a company incorporated in Poland, which owns 100% of the Szklary and Dabrowka concessions. As consideration, Sulliden paid an aggregate of C$100,000 to the Vendor and committed to spending an additional 250,000 euros on the Project within six months of closing. The Acquisition was an arm’s length transaction for purposes of the policies of the Toronto Stock Exchange (“TSX”). No finder fees were paid in connection with, and no change of control of Sulliden resulted from, the Acquisition.
Szklary is a nickel laterite deposit located approximately 50km south of Wroclaw, Poland. The deposit forms N-S striking elongated ridge with the Ni-laterite exposed in the first 20m below surface. Historical production is recorded as 3.5 Mt @ 0.79% Ni = 28,000 tonnes. Approximately 2,500 holes were drilled in the past during the Soviet era, and a technical report was previously prepared that is compliant with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) for the central part of the property (Redstone Exploration Service, February 2022). However, because of the absence of drillcore, the Company expects that an extra 30 holes will be drilled to confirm the historical inferred mineral resource described in the report. Mining would skim the laterite, and ongoing exploration is expected by the Company to investigate the as yet unexplored sulphite deposit at depth. Szklary has a JORC-compliant historical inferred mineral resource of 32.9 Mt @ 0.70% Ni (Northern Mining Ltd., filed with the ASX in July 2008).
Dabrowka is located 25km north of the city of Katowice, Poland. The property has an existing mined out shaft, but requires a small decline shaft to a maximum of 80m depth. As a result, the Company anticipates that little primary development is necessary. The in-situ historical non-compliant inferred mineral resource (M. O’Brien, Feb 2024) resource has been estimated as an in-situ JORC-compliant resource as follows:
Zinc - 22.4 Mt @ 2.8% = 634,940 tonnes
Lead - 22.4 Mt @ 0.7% = 154,000 tonnes
The Company expects that an additional 27 holes will be drilled to compliment the historical exploration.
Note: a qualified person (as such term is defined in NI 43-101) has not done sufficient work to classify the historical estimates described above as current mineral resources or mineral reserves and the Company is not treating the historical estimate as current mineral resources or mineral reserves.
Upside Benefits of the Project:
two smelters are situated <20km away from the Project, which are accessible via rail
room & pillar mining methods, using decline, are utilized at the Project - magnetic separation of ore is proven technology currently used in several mines
there is a potential second Zn Pb deposit at between 80 to 100m apart from primary at 4 to 50m depth
Showing the location of Szklary Nickel and Dabrowka Zn Pb in the southwestern and southern part of Poland, respectively.
Figure 1: Showing the location of Szklary Nickel and Dabrowka Zn Pb in the southwestern and southern part of Poland, respectively.
Mr. Fred Leigh, Chief Executive Officer of Sulliden, commented: "We are pleased to announce our strategic investment in a Polish mining asset, reinforcing our commitment to expanding our portfolio in key resource sectors."
Qualified Person
The scientific and technical information contained herein has been reviewed and approved by Dr. Andreas Rompel, Pr.Sci.Nat, FSAIMM, an independent consultant who is a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
Option Grant
In addition, the Company announces that, subject to regulatory approval, it has granted 3,175,000 stock options to certain directors, officers, and consultants of the Company in accordance with the Company’s stock option plan. The options vest immediately and may be exercised at a price of $0.05 per option for a period of four years from the date of grant. The common shares underlying the options are subject to a four-month hold period in accordance with the policies of the TSX.
About Sulliden
Sulliden is currently a mining company focused on acquiring and advancing brownfield, development-stage and early production-stage mining projects in the Americas, Australia, Africa, and now Europe.
Sulliden Mining Capital Inc.
On behalf of the Board “Fred Leigh”, Chief Executive Officer info@sulliden.com (416) 861-2267
Cautionary Notes
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Company’s beliefs, plans, expectations, or intentions regarding future drilling and other exploration activities at the Project. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future mineral prices and market demand; accidents, labour disputes and shortages and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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