TORONTO, Sept. 19, 2012 /CNW/ - Royal Nickel Corporation ("RNC") (TSX: RNX) is pleased to announce that it has selected Norascon as the mining contractor for the overburden pre-stripping phase of the Dumont Nickel Project ("Dumont").
Following a formal request for proposal ("RFP") process, RNC has selected Norascon as mining contractor for certain development activities at its Dumont project, including pre-stripping, the establishment of mining areas, and related feasibility study and permitting activities. Based on the pre-feasibility study, the contract will involve the movement of pre-strip material, beginning in early 2014. The final quantities and timeline will be determined by the feasibility study currently expected to be completed in mid 2013.
Tyler Mitchelson, President and CEO, commented, "We received a number of excellent proposals submitted under our pre-strip RFP process and I am happy to be able to select a highly experienced and reputable local mining contractor such as Norascon, which is based in close proximity to Dumont in the Abitibi region of Quebec, to help move the project forward. Norascon has successfully completed a number of mining works contracts on large projects in Quebec and abroad and I am excited to welcome a firm of their experience and professionalism to the Dumont development team."
Denis Jobin, Vice President, Corporate Development for Norascon, commented, "As a proud member of the business community in Amos, Norascon is very much looking forward to working with RNC and contributing to the development of the Dumont project."
The selection of Norascon as pre-stripping contractor is subject to completion of a formal mining services agreement and RNC's ability to conclude arrangements for the financing of the Dumont project.
About Royal Nickel Corporation
Royal Nickel Corporation is a mineral resource company focused primarily on the exploration, evaluation, development and acquisition of base metal and platinum group metal properties. RNC's principal asset is the Dumont Nickel Project strategically located in the established Abitibi mining camp, 25 kilometres northwest of Amos, Quebec. RNC has a strong management team and Board with over 100 years of mining experience in the nickel business at Inco and Falconbridge. RNC's common shares and warrants trade on the TSX under the symbols RNX and RNX.WT.
Cautionary Statement Concerning Forward-Looking Statements
This news release contains "forward-looking information" including without limitation statements relating to RNC's development of the Dumont project.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of RNC to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: the actual results of development activities, project delays, inability to raise the funds necessary, inability to negotiate terms, general business, economic, competitive, political and social uncertainties; future prices of metals; availability of alternative nickel sources or substitutes; actual nickel recovery; feasibility study results or delays in obtaining governmental approvals or necessary permitting. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to RNC's filings with Canadian securities regulators available on SEDAR at www.sedar.com.
Although RNC has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and RNC disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
SOURCE Royal Nickel Corporation