January 18, 2018 - Minfocus Exploration Corp. (TSX-V: MFX) (“Minfocus” or “Company”) is pleased to announce the formation of the Minfocus Advisory Board and the appointments of the first two members, Francis T. Manns, Ph.D., P.Geo.(ON) and Mr. Neil V. Froc, P.Eng.. Both are a recognized and experienced geologist and geological engineer, respectively, that bring a depth of corporate and technical experience to the Minfocus Advisory Board, as well as being existing shareholders and supporters of Minfocus. The Minfocus Board looks forward to their valuable advice and counsel as it continues its strategic review of Minfocus’ corporate direction.
Minfocus Advisory Board
Dr. Francis Manns is specialist in Mississippi-Valley-Type (“MVT”) Lead-Zinc deposits. His past experiences include being a Senior Geologist at Northgate Exploration (Gold, Zinc, Lead, in Canada/Alaska) and a geologist with British Newfoundland Exploration Ltd. (Brinex) that was dedicated to exploration for MVT lead-zinc deposits in SE Newfoundland, where he managed the last major mapping and drilling program of the area, and he has explored for lead/zinc in Alaska and in Nunavut on Cornwallis Island, near the well-known Polaris lead/zinc mine. He completed Ph.D. thesis at the University of Toronto on an MVT lead/zinc deposit in British Columbia and during this time was a Member of University of Toronto Research Group under Dr. Frank Beales investigating Mississippi Valley Type (MVT) lead/zinc deposits globally. Dr. Manns was also a co-discoverer of the Coral Zinc deposit in 1977 and has actively consulted on Minfocus’s recent exploration of the Coral Zinc Project in Northeastern BC. In addition, to his technical experience, he was a Senior Manager, Compliance and Disclosure, Mining for the Toronto Stock Exchange and a Mining Analyst at Marleau Lemire Securities.
Mr. Neil Froc is a geological engineer with extensive exploration and major project development experience. His past experiences include being Project Manager at Wellgreen Platinum Corporation responsible for the technical and socio-economic development of the Wellgreen Nickel-Copper-PGE project in the Yukon and Executive Vice President of Hard Creek Nickel Corporation responsible for the technical and socio-economic development of the Turnagain Nickel project, and with Barrick Mine Management Inc. was Project Engineer during a six year exploration and development program at the Cinola Gold Project in British Columbia. Mr. Froc has been responsible for the identification and acquisition of the Minfocus’ Peregrine Zinc Project in Eastern British Columbia and for the Myst Metals Nickel Project in Northern British Columbia. In addition, Mr. Froc brings extensive experience with First Nations consultations in the Yukon and British Columbia.
Corporate Update – Zinc, Lead and Nickel Prices Reach New Multiyear Highs
In the context of Minfocus’ strategic review underway, it is important to note that Zinc metal prices on the LME have recently reached new +10-year high of +$3450 USD/tonne ($1.56 USD/pound) and Lead metal prices have also recently reached a new multi-year high of +$2600 USD/tonne ($1.18 USD/pound). Two of Minfocus’s properties, the Peregrine Zinc Project and the Coral Zinc Project, are both MVT deposits which typically are metallurgically simple deposits to treat and produce premium low-iron, low-impurities lead and zinc concentrates that are favoured by smelters compared to other types of lead-zinc deposits.
It should not go unnoticed as well, that Nickel metal prices are rising and have recently exceeded $12,450 USD/tonne ($5.65 USD/tonne) which are prices not see since mid-2015 last. The importance of Nickel in the evolution of batteries that will be supplied to the growing Electric Vehicles (“EVs”) market was captured by Elon Musk, Tesla CEO, when he was recently quoted as saying, “Our cells should be called Nickel-Graphite, because the cathode is nickel and the anode side is graphite with silicon oxide”. Nickel in Tesla’s NCA batteries makes up about 80% by mass and it is expected the NMC batteries in the Chevy Bolt car will reach about 80% by mass, according to a recent UBS report examining the impact of EVs on commodities demand. Both the Myst Metals Nickel project in British Columbia and the Nipigon Reefs Nickel-Copper PGE projects provide Minfocus exposure to nickel projects.
About Minfocus Exploration Corp.
Minfocus Exploration Corp. is a Canadian company currently advancing a portfolio of base metal projects including zinc and nickel projects in British Columbia and a Platinum Group Element (“PGE”) rich nickel project in N.W. Ontario. Minfocus has a successful management group with a record of multiple discoveries of deposits worldwide, including gold and uranium deposits in Mongolia and PGE-rich resources in Ontario, including the discovery of the first Platinum-rich Pt-Pd-Cu-Ni deposit in the Midcontinent Rift, the Current Lake deposit (+700,000 oz. Pt-Eq).
For further information, please contact:
Kenneth B. de Graaf
President & Chief Executive Officer
The Qualified Person who has reviewed and approved the technical content contained in this release is Dr. Graham C. Wilson, P.Geo.(Ont), a director of Minfocus.
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This press release includes certain forward-looking statements concerning the future performance of the Company’s business and operations as well as management’s objectives, strategies, beliefs and intentions. Forward-looking statements are often identifiable by the use of words such as “may”, “will”, “might”, “would”, “plan”, “believe”, “expect”, “anticipate”, “intend”, “estimate”, “scheduled”, “forecasts” and similar expressions or variations (including negative variations) of such words and phrases. Forward-looking statements are based on the current opinions and expectations of management, and are subject to a number of risks and uncertainties that may cause actual results, performance or achievements of the Company to be materially different from those currently anticipated by such statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, the possibility that future exploration results will not be consistent with the Company’s expectations, fluctuating commodity prices, delays in commencing the Company’s proposed drilling program, exploration costs varying significantly from estimates, the availability of financing, and other risks identified in the Company’s documents filed with the Canadian securities regulatory authorities at www.sedar.com. Any forward-looking statement speaks only of the date on which it is made, and except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement.