TORONTO, Ontario – TheNewswire – June 9, 2025 – AFR NuVenture Resources Inc. (“AFR” or the “Company”) (TSXV: AFR), is pleased to announce, and is grateful for, the support of, the Nova Scotia Mineral Resources Development Fund by the Government of Nova Scotia which has awarded the Company a shared grant of $52,500 to be expended on the Company’s proposed 2025 summer drill program on its Mary Ann’s Lake Copper/Silver Project in Cape Breton, Nova Scotia.

The Company also announces the publication of its corporate presentation dated June 2025, a copy of which is attached to this press release.

A. Douglas Hunter, P. Geo., is the qualified person responsible for approving the technical information contained within this release pertaining to the Property.

 

For more information on the Company and its projects, investors should review the Company's filings on SEDAR+ at www.sedarplus.ca and our website at www.afrnuventure.com .

 

On behalf of the Board of Directors,

John F. O’Donnell, Chairman and CEO	Errol Farr, Chief Financial Officer
john@odonnell-law.ca	Efarr001@me.com

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release and the presentation contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward-looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee" or similar words suggesting future outcomes or statements regarding an outlook. Such statements include, among others, the Company’s proposed exploration plans and the related exploration expenditures.. Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management's expectations regarding its ability to raise financing and complete its proposed work programs. Actual results could differ materially due to a number of factors, including, without limitation, regulatory issues, financing opportunities, and market conditions. Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company's securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements except as required by law.

Not for distribution to the United States

  

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AFR NUVENTURE RESOURCES INC.

TXSV: AFR 

 

www.afrnuventure.com 

 

FOCUS ON CANADIAN CRITICAL MINERALS  

 

Historic Timmins, Ontario Mining Camp - Newly Recognized Nickel Sulphide Project - Nickel/Copper

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Mary Ann’s Lake - Cape Breton, Nova Scotia Project – Copper/Zinc/Silver 

MASSEY NICKEL/COPPER PROJECT – TIMMINS, ONTARIO 

   

Sulphide samples recently collected from a trench on Massey Property

 

The Company has entered into an option agreement with an arms-length private company to option a 100% interest in the mining claims located near Timmins, Ontario, known as the Massey Nickel Project (the “Property”).

 

The Property, which comprises approximately 2000 hectares, is an exceptional exploration project with a data-supported exploration plan already in place. It is situated in the Kamiskotia Complex, host to a number of VMS deposits, the Montcalm nickel-copper mine, and other nickel sulphide zones.

 

The property in the past was incorrectly interpreted to be underlain by a large granite intrusion. Recent geological traverses have established extensive gabbro, host rock for nickel sulphide mineralization, and recent prospecting has identified two sulphide occurrences, each coincident with VTEM anomalies.

 

Numerous priority VTEM targets have been identified and modelled for drilling by Geotech. The project has quality targets and is drill-ready; a work permit has been submitted and approved.

 

Doug Hunter, P. Geo. and a director of the Company, commented: “The setting of multiple VTEM target anomalies in mineralized gabbro of the Kamiskotia Complex and their relationship to known surface mineralization is remarkably analogous to that of the Lynn Lake, Manitoba, gabbro-hosted, nickel-copper-cobalt deposits. The Lynn Lake mine was a significant past producer for 24 years and is now being re-evaluated for new mine development activity.”

 

The Massey Project Is In An Established Gold, VMS & Nickel Mining Camp 

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WHY THE MASSEY PROJECT – AN EXCEPTIONAL EXPLORATION OPPORTUNITY 

• Exceptional Exploration Project with a data-supported exploration story already in place. 

• Situated in Kamiskotia Complex, host to a number of VMS deposits and Nickel sulphide zones. 

• The property was incorrectly interpreted to be underlain by a large granite intrusion. Recent geological traverses have established extensive gabbro, host rock for nickel sulphide mineralization. 

• Recent prospecting has identified two sulphide occurrences, each coincident with VTEM anomalies. 

• Numerous priority VTEM targets identified and modelled for drilling by Geotech. 

• Considerable time and money savings for the exploration company, the project has quality targets and is drill-ready. 

• Work Permits Submitted and Approved.   

   

AFR CAN EARN A 100% INTEREST IN THE PROPERTY BY: 

 paying a total cash consideration of $325,000 as follows: 

1. $40,000 upon the date of execution of the Definitive Agreement (paid) 

2. $60,000 on the first anniversary date of the Definitive Agreement 

3. $75,000 on the second anniversary date of the Definitive Agreement 

4. $150,000 on the third anniversary date of the Definitive Agreement, issuing a total of 9,500,000 common shares of the Company (the Consideration Shares”) as follows:  

   1. a.1,000,000 upon the date of execution of the Definitive Agreement (paid) 

   2. b.2,000,000 on the first anniversary date of the Definitive Agreement 

   3. c.3,000,000 on the second anniversary date of the Definitive Agreement 

   4. d.3,500,000 on the third anniversary date of the Definitive Agreement 

5. granting a 2.0% net smelter returns royalty (“NSR”) on the Property with an option for AFR to re-purchase 50% of the NSR at any time at a price of $1,000,000.  

 

Doug Hunter, P. Geo., is the qualified person responsible for approving the technical information contained in this presentation. 

  

Cape Breton Island - Mary Ann’s Lake Project

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The Company’s Mary Ann’s Lake Project is listed as Project 8 on the above "Critical Mineral Projects in Nova Scotia" map produced by the Nova Scotia Department of Natural Resources Geoscience and Mines Branch. The Company is grateful for, and acknowledges the support of, the Nova Scotia Mineral Resources Development Fund by the Government of Nova Scotia which has awarded the Company a shared grant of $52,500 to be expended on the Company’s proposed 2025 summer drill program.

 

The Company has been granted 2 separate Mineral Exploration Licences through its director and Qualified Person (QP), Doug Hunter, to exercise the right to search and prospect for all minerals saving and excepting coal, uranium and geothermal resources to extract minerals for test purposes and to apply for a mineral lease for all or part of the area held under the exploration licence, for a period not exceeding 24 months from the dates hereof, within that area of ground situated in Richmond County, Nova Scotia, described as Mary Ann’s Lake near the historic Stirling (Mindamar) Mine in Cape Breton Island, Nova Scotia. The property comprising 20 claims, each claim being 16 ha for a total area of 320 ha (790 acres) captured a blind mineralized zone that had been discovered more than 30 years ago during a drilling program by a prior claim holder. This altered mineralized zone intersected by two short drill holes is up to 80 meters in width and contains very anomalously high silver assays for the local area, with associated copper and lead. The geologic setting is remarkably similar to that of the former operating Stirling Mine. AFR has decades of in-house experience in the Stirling Belt and its mineral potential, which led to the recent staking of the property. 

 

The property lies 1500m southeast of the Stirling mine. The Stirling poly-metallic massive sulphide (VMS) deposit was an important base and precious metals producer in Nova Scotia. The mine operated at different times in the 1930s and the 1950s. It is an example of a volcanogenic deposit setting as the mineralization is associated with felsic volcanism and volcanic-sedimentary rocks, including an exhalative suite consisting of chert, carbonate and talc, along with tuffaceous mudstone/siltstone. 

 

The deposit consisted of numerous poly-metallic massive sulphide lenses, which, taken together, amounted to more than one million tonnes of mined ore grading 6.3% Zn, 1.5% Pb, 0.8% Cu, 74g/t Ag and 1.1g/t Au.  Some of the individual ore bodies were very rich with up to 15-20% combined Cu, Pb, and Zn. The Stirling Mine ceased operations in 1956 and, since that time, both the Stirling Mine and the Stirling volcanic belt have been subjected to sporadic exploration activity, including many airborne geophysical surveys, which led to little or no ground follow-up. This is for two reasons. Firstly, the Stirling belt is covered by a conductive glacial till which ranges from a few metres up to 20m in thickness. Secondly, there is very little outcrop, and the terrain has thus frustrated, for decades, many prospectors and exploration geologists. An additional discouraging factor is that the known ore deposit at Stirling exhibits weak conductivity, and the ore is known to have a low magnetic susceptibility. 

 

The volcanic-sedimentary setting of the ore horizon itself, occurring in a quartz-carbonate-talc unit, chert and siltstone/mudstone, is remarkably similar to that of other settings, such as the Precambrian-aged Errington-Vermillion deposits in the Sudbury Basin and another ancient analogue provided by the ore deposits of the Bergslagen district of Sweden. As stated by Mr. Hunter, “I have always felt that the Stirling Belt was underexplored and now with the hindsight of the exploration efforts since the 1960s, we can see renewed enthusiasm for its potential for a new polymetallic discovery.” 

 

The property is not subject to any option payments, royalties or other non-governmental encumbrances.

 

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Note: Cross section line A-A’ drawn on above map.   

 

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Notes to Cross Section A - A’: The principal geologic units in the Stirling Group are illustrated schematically. The mine stratigraphy is represented by two distinct pyroclastic units and by mudstone in the hanging wall to the quartz-carbonate-talc bodies that hosted massive sulphide bodies. Rhyolite forms the footwall to the ore deposit. At Mary Ann’s Lake, the talc-pyrite mineralization, closely resembling that which hosted the ore bodies at the Stirling Mine, occurs in a felsic pyroclastic unit, and in pyritic talcy mudstone intercalated with this pyroclastic unit. Two shallow historic holes discovered the mineralization, which remains open at depth and along strike. The younger unconformable Kelvin Glen sediments are in Fault Contact with the Stirling Group rocks.   

 

PLANS FOR SUMMER 2025 WORK PROGRAM 

The Company is planning to commence its exploration program in the early summer and to be drilling in July. Permits are in the process of being approved for both private owners and crown lands in Nova Scotia covered by the exploration licence. Based on a company director’s experience the usual time frame for this is 2-3 months. The Company has received a shared grant of $52,500 under the Nova Scotia Mineral Resources Development Fund. The planned exploration program benefits greatly from previous historic ground geophysical surveys and the records of the previous 1992 drill holes. The property is drill-ready. The geologic environment on the new exploration license is very similar to that of the former Stirling mine, and the targeted copper-silver mineralization occurs at a very shallow depth. Initially, 3 short, 100-200m test holes can effectively explore the area of the mineralized zone and can test an EM anomaly, which has yet to be explained at around a 60m vertical depth below the known blind mineralization.

 

BOARD OF DIRECTORS AND MANAGEMENT 

 

John F. O’Donnell, BA (Economics), LLB. - Chairman of the Board, President and Chief Executive Officer 

 

David V. Mason, BA. – Director 

 

Simeon Tshisangama - Director 

 

Douglas A. Hunter, B.Sc. & M.Sc. P.Geo. (PGO) – Director and Qualified Person within meaning of NI 43-101 

 

Errol Farr, CPA, CMA. - Chief Financial Officer and Secretary 

   

The AFR team is comprised of globally experienced mineral explorationists and developers with decades of experience around the world. More particulars can be found on the Company’s website at www.afrnuventure.com  

   

CORPORATE INFORMATION (at May 6, 2025) 

Registered Head Office  1600 – 925 West Georgia Street, Vancouver, British Columbia V6C 3L2    Administrative Office and Mailing Address  23 – 31 Keegan Parkway, Belleville, Ontario K8N 5N8    Investor Inquiries  Chairman, President and CEO – John F. O’Donnell        1-647-966-3100  john@odonnell-law.ca      Registrar and Transfer Agent  Computershare Investor Services Inc.   604-661-9435    Auditors  Davidson & Company LLP, Vancouver, British Columbia    Legal Counsel  Lawson Lundell LLP, Vancouver, British Columbia    Canadian Listing TSX Venture Exchange (“TSXV”) Symbol: AFR    Corporate Jurisdiction British Columbia Business Corporations Act  British Columbia and Alberta

Reporting Jurisdictions   Regulatory & Disclosure Filings www.sedar.com     CUSIP Number 00111F102    Shares Authorized        Unlimited Common Shares    Shares Outstanding                25,210,111    Reserved for Issuance for stock options        1,800,000 (exercise price of $0.09 until Sept 1, 2026)    Fully Diluted Shares        27,010,111    Market Price        $0.015    Market Cap        $378,152    52 -week trading price range        $0.01 - $0.04    Shares of Directors and Officers        9,384,353 (37.2%)