1844 Resources Inc. (TSX-V: EFF) wishes to provide an update regarding its Option Agreement with Nickel North. The Company and Nickel North Exploration Corp announces that the Option Agreement dated December 10, 2024, has been terminated. Both companies have expressed interest in continuing discussions and may begin negotiations toward a new Option Agreement.

The updated National Instrument 43-101 on the Hawkridge property has been filed with the TSX-V.

Grant of Stock Options

The Company has granted an aggregate of 1,000,000 stock options to its directors. Mr. Mathieu Olivier and Mr. André Gauthier, who both joined the Board of Directors in 2024, have each been granted 500,000 options.

The options are exercisable at a price of $0.05 per share for a period of five (5) years from the date of grant. They will vest one (1) year following the date of grant and remain subject to regulatory approval and applicable policies.

The grant of options to certain directors and officers is a “related party transaction” ‎under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special ‎Transactions (“MI 61-101”). The Company relied on the exemptions from the formal valuation and minority ‎shareholder approval requirements of MI 61-101 contained in Sections 5.5(a) and 5.7(1)(a) of MI ‎‎61-101 in respect of related party matters, as the Company is listed on the TSX Venture Exchange (“TSXV”) and neither the fair ‎market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of ‎the consideration for, the transaction, insofar as it involves the related parties, exceeded 25% of the ‎Company’s market capitalization (as determined under MI 61-101).‎

About 1844 Resources Inc.:

1844 is an exploration company with a focus in strategic and energetic metals and underexplored regions “Gaspé, Nunavik Québec”. With a dedicated management team, the Company’s goal is to create shareholder value through the discovery of new deposits.