Alliance Nickel (ASX: $AXN) Quarterly Activities Report

Alliance Nickel Limited (Alliance or the Company) (ASX: $AXN) is pleased to provide an update on its activities completed during the December 2023 quarter. The Company reported a 9.6% increase in the global NiWest Resource Estimate to 93.4Mt at 1.04% Ni and 0.07% Co. The Environmental Protection Authority (EPA) formal approval has been lodged, marking the first step for environmental approval for construction and operation of the Project. The Definitive Feasibility Study (DFS) workstreams, cost optimisation engineering, and water drilling programs continued during the quarter, with the delivery of the DFS targeted for completion around mid-2024.

Executive Commentary on NiWest Project and Corporate Activities

During the quarter, Alliance continued to progress the DFS focusing on optimisation studies, process flow sheets, mass balances, preliminary engineering designs, and technical reporting. The Company also completed the disposal of its wholly owned subsidiary, Golden Cliffs NL, and saw the retirement of non-executive director Mr Peter Huston. Discussions with strategic offtake partners continued positively, and the Company expects to make further announcements on this in due course. The Company spent $2.51 million on exploration and evaluation activities during the quarter, with no mining development or production activities conducted.

Summary of Alliance Nickel's Quarterly Activities

Alliance Nickel reported a 9.6% increase in the global NiWest Resource Estimate to 93.4Mt at 1.04% Ni and 0.07% Co. The Company lodged the first step for environmental approval for construction and operation of the Project with the EPA. The DFS workstreams, cost optimisation engineering, and water drilling programs continued during the quarter, with the delivery of the DFS targeted for completion around mid-2024. Additionally, the Company completed the disposal of its subsidiary, Golden Cliffs NL, and saw the retirement of non-executive director Mr Peter Huston. Alliance Nickel expects to continue meeting its business objectives based on its current operations and expenditure.