WYLOO METALS EXPANDS EXPLORATION PORTFOLIO WITH BAIE DE MOISIE

PERTH, Australia, Nov. 16, 2022 /CNW/ - Wyloo Metals (Wyloo) has acquired 100 per cent of Baie de Moisie, a 3,000-hectare exploration property located 40 kilometres northeast of Sept-Iles in the Grenville region of Quebec, Canada.

Wyloo CEO, Luca Giacovazzi said the company was attracted to the property because of the largely unexplored potential of the Grenville region.

"We were excited by the nickel-copper mineralisation we've seen exposed at the surface level, and because it's one of the few areas with this potential that remains largely unexplored," he said.

"Prior to the transaction a private prospecting group had identified more than two kilometres of mafic rock with nickel and copper-rich material over a 600-metre strike length.

"Since then, we have carried out additional geological mapping and believe the mafic intrusion could be more than six kilometres long.

"The property's ideal location near the port of Sept-Îles is also attractive as it would provide cost-effective, year-round access to the project."

Wyloo has recently completed an aerial electromagnetic survey (VTEM) of the area to identify priority targets for first drill testing in 2023.

The property complements its existing Canadian exploration portfolio in the Ring of Fire, Northern Ontario, and the West Raglan joint venture with Orford Mining Corporation in Nunavik, Quebec.

ABOUT WYLOO METALS
Wyloo Metals is a privately-owned metals company with a focus on investing in the critical mineral supply chain. In April 2022, Wyloo Metals acquired Ring of Fire Metals (formerly Noront Resources) and its exploration properties located in the Ring of Fire region of Northern Ontario, including the Eagle's Nest project. Led by a multidisciplinary team of geologists, engineers and financial professionals, Wyloo Metals manages a diverse portfolio of exploration and development projects and cornerstone interests in a number of public companies. Wyloo has a long-term investment mandate and is focused on producing commodities that support the transition to a low-carbon future. See more at: www.wyloometals.com

DISCLAIMER
Some of the statements in this press release may be forward looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. Wyloo Metals does not make any representation or warranty, express or implied, as to the accuracy, completeness or updated status of such statements. Therefore, in no case whatsoever will Wyloo Metals and its affiliate companies be liable to anyone for any decision made or action taken in connection with the information and/or statements in this press release or for any related damages.

SOURCE Wyloo Metals