Canada Nickel Sells Lucas Gold Project, Acquires Land for Crawford Project
Canada Nickel Company announced on July 13, 2026, the sale of its Lucas Gold Project to Noble Mineral Exploration and the acquisition of adjacent land for its Crawford Nickel Project.
Toronto, Canada – Canada Nickel Company announced on July 13, 2026, a binding letter of intent to sell its Lucas Gold Project to Noble Mineral Exploration Inc. The transaction will see Noble issue units to Canada Nickel, along with a right for Canada Nickel to repurchase a stake in the project later.
Concurrently, Canada Nickel has acquired additional mineral claims within the overall footprint of its Crawford Nickel Project. The company stated the sale would allow it to generate value from a non-core property. Noble Mineral Exploration will undertake further exploration activities on the Lucas project.
The terms of the Lucas transaction involve Noble Mineral Exploration issuing 5 million units to Canada Nickel, valued at $0.06 per unit, with each unit comprising one common share and one-half of a non-transferable common share purchase warrant. Canada Nickel will also receive a "back-in right" to purchase a 25% interest in the property by paying an amount equal to four times the exploration expenditures incurred by Noble.
Canada Nickel is focused on advancing nickel-sulphide projects to supply the electric vehicle and stainless steel industries. The company is also developing processes to produce net-zero carbon nickel, cobalt, and iron products.