Nion Nickel Advances Dumont Project to Support Quebec Battery Supply Chain

The Dumont Nickel Project, located in Quebec, Canada, is set to contribute to the energy transition and Quebec's growing battery industry. Nion Nickel Inc., under the management of Kinterra Capital, has initiated significant field data collection programs at Dumont to support the project's engineering design and construction decision. The project aims to produce an annual average of 39,000 tonnes of nickel for over 30 years, supporting the production of approximately 780,000 electric vehicles per year. With a low carbon footprint driven by Quebec's renewable energy grid and the carbon capture capacity of the Dumont ore, the project is committed to sustainable and responsible nickel extraction.

As part of the project's advancement, NiVolt Technologies Inc., a portfolio company of Kinterra, is assessing Dumont concentrate as part of its feasibility study. Additionally, Nion will be conducting a significant data collection field program in the first half of 2024, focusing on geotechnical data collection, ore infill drilling, and metallurgical and tailings test work. The aim is to gather the necessary data for the detailed engineering work and make a construction decision by 2025.

Nion and Kinterra are actively engaging with potential project partners and financiers as development progresses. The commitment to advancing Dumont demonstrates their dedication to supporting the battery supply chain in Quebec.

Nion Nickel is a Canadian critical minerals business focused on the extraction of nickel for the electric vehicle supply chain. Through its ownership of Magneto Investments Limited Partnership, Nion owns Dumont, one of the world's largest fully permitted nickel sulphide deposits. Dumont is strategically positioned to supply nickel for EV batteries through 2050.

Kinterra Capital, based in Toronto, is a private equity firm that invests in critical minerals, strategic infrastructure, and ideas to accelerate the energy transition. With a focus on creating value for key stakeholders and enhancing communities through meaningful partnerships, Kinterra leverages its technical and transactional expertise to drive sustainable investments.

Forward-looking statements

This article contains forward-looking statements, which are based on the opinions and expectations of Kinterra's management. While Kinterra believes that these statements are based on reasonable assumptions, there is no assurance that the expectations will prove to be correct. The forward-looking statements are subject to risks and uncertainties that could cause actual outcomes to differ materially. Therefore, readers should not place undue reliance on these statements as guarantees of future outcomes.

In conclusion, Nion Nickel's advancement of the Dumont Project is a significant step towards supporting Quebec's battery supply chain and the energy transition. With its commitment to responsible nickel extraction and sustainability, Dumont is poised to contribute to the production of electric vehicles and meet the growing demand for nickel in the coming years.