VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 1, 2013) - Nickel North Exploration Corp. (TSX VENTURE:NNX) (the "Company" or "Nickel North") announces that, subject to a 3% NSR, it has acquired 100% ownership of the Hawk Ridge Ni-Cu-PGE Project in Northern Quebec from Anthem Resources Inc. ("Anthem") formerly Virginia Energy Resources Inc. Nickel North and Anthem have agreed upon a third amendment to the underlying Hawk Ridge Option Agreement. Instead of converting the cash payment of $907,918.70 into common shares of the Company at a price of $0.25 per share, (See February 19th 2013, News Release) Nickel North and Anthem agreed to convert the cash payment into units (the "Units") at a price of $0.25 per Unit. The Units have the similar terms as the units issued in the recently completed $2 Million private placement financing announced on March 28th, 2013 (See March 28th 2013, News Release).
In addition to 3,631,675 common shares and 1,815,838 warrants issued to Anthem upon conversion of the cash payment, the Company issued 2,500,000 common shares pursuant to Hawk Ridge Option Agreement, as amended. These securities are subject to a hold period expiring on September 2, 2013.
About Nickel North Exploration Corp.
Nickel North Exploration Corp. is a Canadian based exploration company whose shares trade on the TSX Venture Exchange under the symbol NNX. The board of directors, advisory committee and management team feature highly experienced mining professionals and technical experts with an extensive history of mineral discovery and mine development; corporate finance and capital markets; as well as corporate mergers, acquisitions and take-overs. Nickel North Exploration Corp. is a conscientious corporate citizen, maintains good relations with First Nations, and is committed to sustainable development. The Company's corporate mission is to become a pre-eminent supplier of nickel, copper and Platinum Group Elements for domestic and global export markets.
ON BEHALF OF NICKEL NORTH EXPLORATION CORP.
Phillip Mudry, President and Chief Executive Officer