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Canadian North Resources Announces Insider Buying of Shares

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Canadian North Resources Announces Insider Buying of Shares

 

 

 

 

 

Canadian North Resources Inc. (TSX-V: CNRI) (OTCQX: CNRSF) (FSE: EO0) is pleased to announce that members of its Board of Directors have made open market purchases of shares in the period of November 3, 2023 to date.

 

Director and Chairman of the Company, Mr. Lee Shim purchased 96,800 shares of the Company’s common stock in the open market at a price of $1.90 per share on November 29, 2023, as well as 100,000 common shares at a price of $2.00 on November 17, 2023.

 

Additionally, Director Rick Brown purchased 5,000 shares at a share price of $2.60 per share on November 6, 2023, and Director Mike Weeks also purchased a total of 5,000 shares at a cost of $2.55 per share. Complete details are available at SEDI.ca.

 

These investments further reinforce the executive team’s confidence in the Company’s growth potential and commitment to its long-term success.

 

About Canadian North Resources

 

Canadian North Resources Inc. is an exploration and development company focusing on the critical metals for the clean-energy, electric vehicles, battery and high-tech industries. The company is advancing its 100% owned Ferguson Lake nickel, copper, cobalt, palladium, and platinum project that covers an area of 253.8 km2 of mining leases (96.9 km2) and surrounding exploration claims (156.9 km2) in the Kivalliq Region of Nunavut, Canada.

 

The Ferguson Lake mining property contains substantial resources in compliance with NI43-101 standards, which include Indicated Mineral Resources of 24.3 million tonnes containing 455 million pounds (Mlb) copper at 0.85%, 321Mlb nickel at 0.60%, 37.5Mlb cobalt at 0.07%, 1.08 million ounces (Moz) palladium at 1.38gpt and 0.18Moz platinum at 0.23gpt; Inferred Mineral Resources of 47.2 million tonnes containing 947Mlb copper at 0.91%, 551.5Mlb nickel at 0.53%, 62.4Mlb cobalt at 0.06%, 2.12Moz palladium at 1.4gpt and 0.38Moz platinum at 0.25gpt. The resource model indicates significant potential for resource expansion along strike and at depth over the 15 km long mineralized belt. (Refer to “Independent Technical Report, Updated Mineral Resource Estimate, Ferguson Lake Project, Nunavut, Canada, Prepared by Ronacher McKenzie Geoscience Inc. and Francis Minerals Ltd ” filed by the Company to Sedar.com on July 13, 2022). In addition, the Company has identified the pegmatites with lithium potential at the Ferguson Lake project.

 

Posted December 7, 2023

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