2018 Technical (Ni 43-101) Report on the Decar Nickel-Iron Alloy Property

2018 Technical (Ni 43-101) Report on the Decar Nickel-Iron Alloy Property

FPX Nickel Corp. 2018 TECHNICAL (N.I. 43-101) REPORT ON THE DECAR NICKEL-IRON ALLOY PROPERTY Located in the Omineca Mining Division, British Columbia NTS 93K083, 084, 085, 093, 094 and 095 54˚ 54’30.5” North latitude, 125˚ 21'31” West longitude -prepared for- FPX NICKEL CORP. Suite 725 - 1155 West Pender Street Vancouver, British Columbia, Canada V6E 2P4 -prepared by- Ronald J Voordouw, P.Geo. EQUITY EXPLORATION CONSULTANTS LTD. Suite 1510, 250 Howe Street Vancouver, British Columbia, Canada V6C 3R8 and Ronald G. Simpson, P.Geo. GEOSIM SERVICES INC. 1975 Stephens Street Vancouver, British Columbia, Canada V6K 4M7 Effective Date: February 26, 2018 1 TABLE OF CONTENTS TABLE OF CONTENTS ................................................................................................................................. 1 LIST OF APPENDICES .................................................................................................................................. 2 LIST OF TABLES ........................................................................................................................................... 2 LIST OF FIGURES ......................................................................................................................................... 3 1.0 SUMMARY............................................................................................................................................ 5 2.0 INTRODUCTION................................................................................................................................... 7 3.0 RELIANCE ON OTHER EXPERTS ....................................................................................................... 7 4.0 PROPERTY DESCRIPTION AND LOCATION ...................................................................................... 7 5.0 ACCESSIBILITY, LOCAL RESOURCES, INFRASTRUCTURE, PHYSIOGRAPHY, CLIMATE ........... 11 5.1 Accessibility ................................................................................................................................... 11 5.2 Local Resources and Infrastructure ............................................................................................... 11 5.3 Physiography and Climate ............................................................................................................. 13 6.0 HISTORY ............................................................................................................................................ 13 7.0 GEOLOGICAL SETTING AND MINERALIZATION ............................................................................. 15 7.1 Regional Geology and Mineralization ............................................................................................. 15 7.2 Local Geology ................................................................................................................................ 17 7.3 Property Geology ........................................................................................................................... 19 7.3.1 Lithology ....................................................................................................................... 19 7.3.2 Structure ....................................................................................................................... 21 7.3.3 Alteration ...................................................................................................................... 21 7.4 Property Mineralization .................................................................................................................. 22 8.0 DEPOSIT TYPES ................................................................................................................................ 23 9.0 EXPLORATION .................................................................................................................................. 24 9.1 Geological mapping and surface sampling ..................................................................................... 24 9.2 Geophysical, televiewer and Lidar surveys .................................................................................... 26 9.2.1 Airborne gradient magnetic survey ............................................................................... 27 9.2.2 Ground-based induced polarization (IP) and resistivity ................................................. 28 9.2.3 Downhole induced polarization (IP) and resistivity ........................................................ 29 9.2.4 Downhole physical rock property surveys ..................................................................... 30 9.2.5 Televiewer surveys ....................................................................................................... 32 9.2.6 Lidar ............................................................................................................................. 32 10.0 DIAMOND DRILLING .......................................................................................................................... 33 10.1 2010 drilling program ..................................................................................................................... 33 10.2 2011 drilling program ..................................................................................................................... 36 10.3 2012 drilling program ..................................................................................................................... 38 10.4 2017 drilling program ..................................................................................................................... 39 11.0 SAMPLE PREPARATION, ANALYSES AND SECURITY ................................................................... 40 11.1 Core Handling and Security ........................................................................................................... 41 11.2 Analytical Techniques .................................................................................................................... 42 11.3 Quality Assurance and Quality Control (QA/QC) ............................................................................ 43 12.0 DATA VERIFICATION ........................................................................................................................ 46 13.0 MINERAL PROCESSING AND METALLURGICAL TESTING ............................................................ 48 13.1 2010 phase I metallurgical testing .................................................................................................. 48 13.2 2010 phase II metallurgical testing ................................................................................................. 49 13.3 2011 mineralogical characterization ............................................................................................... 51 2 13.4 2012 bench-scale investigation ...................................................................................................... 52 14.0 MINERAL RESOURCE ESTIMATES .................................................................................................. 54 14.1 Key assumptions and basis of estimate ......................................................................................... 54 14.2 Geological model ........................................................................................................................... 54 14.3 Exploratory data analysis ............................................................................................................... 56 14.4 Density assignment ....................................................................................................................... 58 14.5 Grade capping and outlier restrictions ............................................................................................ 58 14.6 Variography ................................................................................................................................... 59 14.7 Estimation and interpolation methods ............................................................................................ 59 14.8 Block model validation ................................................................................................................... 62 14.9 Classification of mineral resources................................................................................................. 63 14.10 Reasonable prospects of economic extraction ......................................................................... 64 14.11 Mineral resource statement ..................................................................................................... 65 14.12 Factors that may affect the mineral resource estimate ............................................................. 65 15.0 ADJACENT PROPERTIES ................................................................................................................. 65 16.0 OTHER RELEVANT DATA AND INFORMATION ............................................................................... 65 17.0 INTERPRETATION AND CONCLUSIONS.......................................................................................... 66 18.0 RECOMMENDATIONS ....................................................................................................................... 67 18.1 Program ......................................................................................................................................... 67 18.2 Budget

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