Atlantic Nickel announces first sale of nickel concentrate from Santa Rita

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Atlantic Nickel (“Atlantic Nickel” or the “Company”) and Appian Capital Advisory LLP (“Appian”) are pleased to announce the first sale of nickel concentrate from the Santa Rita nickel sulphide re-start project (“Santa Rita” or the “Project”) located in Brazil. Highlights First sale of nickel concentrate from the Santa Rita with shipment in January 2020 Following the re-commencement of the mine in July 2019, mining and processing operations are both ahead of schedule Over 11,000 dmt of in-specification concentrate produced to date Offtake agreement and financing facility in place with Trafigura, one of Atlantic Nickel’s cornerstone offtakers Production expected to reach nominal annualised capacity in 2020 Since the recommencement of blasting activities in July 2019, the Company has safely achieved several operational milestones on or ahead of schedule. Refurbishment of the plant is complete, and the ramp-up of commissioning activities has resulted in early production of nickel concentrate. The Company has produced over 11,000 dmt to date and is set to deliver its first shipment in January of 2020. On the back of strong commercial interest, the Company has looked to establish relationships with a diverse set of offtake partners, each with strong reputations globally. In line with this strategy, Atlantic...
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Atlantic Nickel upgrades Mineral Resource and adds significant underground potential; restart realizes first production of concentrate

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Atlantic Nickel (“Atlantic Nickel” or the “Company”) and Appian Capital Advisory LLP (“Appian”) are pleased to announce recent drilling results, an updated Mineral Resource estimate for the Santa Rita nickel sulphide re-start project (“Santa Rita” or the “Project”) located in Brazil. Highlights 30,785m RC infill drilling program for nickel sulphide completed upgrading open pit Resource block model and de-risking over half of the expected initial mine life of 8 years Updated Mineral Resource (open pit) increased to 59Mt at 0.33% NiS, 0.11% Cu Diamond drilling program of 75,500m completed below the current open pit, including 5,000m of drilling for metallurgical sample collection Drilling below the open pit Resource further defines and extends mineralization amenable to underground mining. A Resource model update for this material is pending in Q1 2020. Atlantic Nickel, the 100% owner of Santa Rita, was acquired by Appian in 2018. The Company is undergoing significant work prior to commercial production in 2020. Mining operations have resumed on site with over 2Mt safely blasted and hauled to date. Post refurbishment, commissioning began earlier this year with the successful testing of the primary crusher with 20kt of ore from stockpiles. The plant is now producing concentrate. A large 30,785m...
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