MONTREAL, QUEBEC–(Marketwired – Sept. 2, 2015) – Nearctic Nickel Mines Inc. the “Company” announces that its indirect Quebec subsidiary, Ungava Mineral Exploration Inc., UMEI, has recently commenced an action for damages against the Quebec Ministry of Energy and Natural Resources. The action concerns the taking of three territories from the Expo Ungava Property in 2008 by the Ministry to create three mining leases issued to Canadian Royalties Inc. It also concerns repeated failures by the Ministry to correct the three leases to recognize and document UMEI’s undivided 30% interest therein, as well as damages for numerous other faults. The Motion to Institute Proceedings in Damages will be filed as a Schedule to the Material Change Report to be filed in connection with this Press Release.
This news release contains forward-looking statements within the meaning of the “safe harbour” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors which may cause the Company’s results to differ materially from expectations. These include risks relating to market fluctuations, investee performance and other risks. These forward-looking statements speak only as of the day hereof. The Company disclaims any intent or obligation to update these forward-looking statements.
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