ARCHER PROVIDES UPDATE ON ZANZUI NICKEL PROJECT AND TERMINATION OF OPTION AGREEMENT

VANCOUVER, BC, Could 31, 2022 /CNW/ – Archer Exploration Corp. (CSE: RCHR) (“Archer”) supplies an update on the acquisition of the Zanzui Nickel Challenge and the termination of its possibility arrangement with Geomap Exploration Inc. for the Caster Assets dated August 1^st, 2020, as amended (the “Selection Settlement”).

Archer Exploration Corp Emblem (CNW Team/Archer Exploration Corp)

Zanzui Update

As disclosed in its news release dated December 15^th, 2021, the Company entered into a securities trade arrangement (the “SEA”) with Echelon Minerals Ltd. (“Echelon”) and the shareholders of Echelon, pursuant to which it will purchase all of the issued and remarkable shares of Echelon (the “Echelon Transaction”). Echelon, via its subsidiaries, retains the Zanzui Nickel Task in Northern Tanzania and related mining and technical info. The Company and Echelon proceed to operate together to obtain all needed regulatory approvals. The Enterprise has acquired acceptance from the Tanzania Mining Commission and is now awaiting closing approval from the Tanzania Revenue Authority. For even further aspects pertaining to the Echelon Transaction, please see the Company’s news launch dated December 15^th, 2021.

Keith Bodnarchuk, Interim CEO of Archer, commented: “The fundamentals close to the nickel place carry on to stage to a extended-time period bull industry. We glimpse ahead to closing the transaction for the Zanzui Nickel Challenge in the coming months and continuing to pursue a substantial landholding of significant upside nickel sulphide properties.”

Termination of Caster Possibility Agreement

Pursuant to the Choice Arrangement, Archer was granted the correct to make a 100% desire in the Caster House. Nevertheless, Archer has elected to discontinue payments underneath the Selection Agreement and target on the acquisition and improvement of nickel assignments, together with the Zanzui Nickel Venture in Tanzania.

Archer has incurred $110,000 in exploration expenses on the Caster Task, which include completion of the Period I exploration program.

About Archer Exploration

Archer is focused on nickel dominated jobs. The future desire for nickel is witnessed as exceptionally robust, with provide facing a amount of considerable constraints. The Enterprise is advancing its possible acquisition of the Zanzui Nickel Job in Tanzania.

Neither the Canadian Securities Exchange nor its Sector Regulator (as that term is described in procedures of the Canadian Securities Exchange) accepts responsibility for the adequacy or precision of this launch.

Ahead Wanting Information and facts

The information contained herein consists of “ahead-seeking statements” in just the meaning of the United States Non-public Securities Litigation Reform Act of 1995 and “ahead-looking data” inside the which means of applicable Canadian securities legislation. “Forward-seeking info” features, but is not confined to, statements with regard to the functions, situations or developments that the Company expects or anticipates will or may well take place in the future, like, without the need of limitation, planned exploration routines. Typically, but not usually, ahead-looking details and statements can be determined by the use of words and phrases this sort of as “ideas”, “expects”, “is envisioned”, “finances”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the detrimental connotation thereof or versions of these words and phrases or state that specified steps, activities or final results “could”, “could”, “would”, “may” or “will be taken”, “manifest” or “be achieved” or the adverse connotation thereof.

The ahead-searching information contained herein is offered for the intent of aiding visitors in being familiar with management’s recent expectations and designs relating to the long run. These forward‐looking statements or information and facts relate to, among the other matters: acquiring needed approvals for the Echelon Transaction completion of the Echelon Transaction and the acquisition and improvement of other nickel initiatives.

These ahead-wanting information and statements are based mostly on a lot of assumptions, such as between others, that the results of prepared exploration functions are as predicted, the expected price of prepared exploration pursuits, that typical organization and financial conditions will not improve in a content adverse method, that financing will be obtainable if and when essential and on acceptable conditions, that 3rd social gathering contractors, equipment and supplies and governmental and other approvals required to perform the Firm’s prepared exploration activities will be available on acceptable terms and in a timely way. Whilst the assumptions made by the Company in offering ahead-on the lookout information or earning ahead-looking statements are viewed as reasonable by management at the time, there can be no assurance that this sort of assumptions will show to be accurate.

Ahead-searching details and statements also entail known and unknown pitfalls and uncertainties and other components, which may well cause actual events or final results in foreseeable future durations to differ materially from any projections of upcoming occasions or effects expressed or implied by these ahead-on the lookout data or statements, such as, among the some others: negative running dollars move and dependence on 3rd get together funding, uncertainty of more funding, no recognised mineral reserves or methods, the restricted functioning record of the Corporation, the influence of a huge shareholder, aboriginal title and consultation problems, reliance on key management and other staff, actual final results of exploration actions becoming different than predicted, changes in exploration programs primarily based upon effects, availability of third get together contractors, availability of devices and provides, failure of gear to operate as predicted incidents, results of weather and other pure phenomena and other risks connected with the mineral exploration marketplace, environmental threats, alterations in guidelines and laws, local community relations, delays in getting governmental or other approvals and other danger things set out in the Company’s community disclosure files readily available on the Company’s profile at www.sedar.com.

While the Business has attempted to detect vital aspects that could bring about genuine outcomes to vary materially from people contained in the ahead-wanting details or implied by forward-seeking information and facts, there may perhaps be other things that cause success not to be as anticipated, approximated or supposed. There can be no assurance that ahead-on the lookout data and statements will show to be precise, as precise effects and potential situations could vary materially from these expected, believed or intended. Appropriately, viewers really should not location undue reliance on ahead-wanting statements or information and facts. The Enterprise undertakes no obligation to update or reissue ahead-seeking information as a result of new data or gatherings except as expected by relevant securities legal guidelines.

Source Archer Exploration Corp