South Voisey’s Bay Project expands as Fjordland Options Claims in Labrador
Vancouver, BC, August 20, 2018 ─ Fjordland Exploration Inc. ("Fjordland") (TSX.V: FEX) has expanded the company’s South Voisey’s Bay nickel-copper-cobalt project (the “SVB Property”) located 80 kilometres south of Vale's Voisey's Bay nickel mine in Labrador, Canada. Fjordland has signed a Letter of Intent with a consortium of private claim holders granting Fjordland the option to acquire a 100% interest in 38 mining claims located in the South Voisey’s area, Labrador.Under the terms of the agreement, Fjordland has the option to pay to the consortium $110,000 and incur $120,000 in exploration expenditures over a period of three years.The Vendors retain a 3% net smelter royalty that may be reduced to 1% by paying $600,000 for the first 1% reduction and $1,200,000 for the second 1% reduction.
The property is contiguous to mineral tenure held by Fjordland and Commander Resources Ltd. (TSX.V: CMD) as part of their South Voisey’s Bay nickel-copper-cobalt Project (“SVB Project”).Fjordland’s strategic investor, High Power Exploration Inc. is funding this year’s $1.2 million work program.
Victor A. Tanaka, P. Geo. is a qualified person within the context of National Instrument 43-101 and has read and takes responsibility for the technical aspects of this release.
About Fjordland Exploration Inc.
Fjordland Exploration Inc. is a mineral exploration company that is focused on the discovery of large scale potentially economic deposits located in Canada. For further information visit Fjordland’s website at www.fjordlandex.com
On behalf of the Board of Directors,
“Richard C. Atkinson”
Richard C. Atkinson, P.Eng.
President & CEO
For further information, please call:
FJORDLAND EXPLORATION INC.
Richard C. Atkinson, President and CEO
Some statements in this news release may contain forward-looking information. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.