Flying Nickel Mining Corp. announced the signing of an Impact and Benefit Agreement ("IBA") with Norway House Cree Nation ("NHCN") to advance the development of the Minago Nickel Project ("Minago") located in the prolific Thompson nickel belt in Manitoba, Canada. The IBA establishes the framework for Flying Nickel and NHCN to work together during all stages of the Minago project in its exclusive traditional territory.

It sets the terms under which the project will be developed and operated throughout the complete project lifecycle with the consent and support of the NHCN Specific terms of the IBA remain confidential. But generally, they include cooperation between Flying Nickel and NHCN by (i) establishing a cooperative and mutually respectful long-term relationship; (ii) providing employment capacity support and business opportunities to NHCN and its members; (iii) providing an independent director seat on the Flying Nickel board (with the person to be nominated by NHCN); (iv) providing a specialized mechanism for NHCN to subscribe to Flying Nickel common shares to increase project participation; (v) revenue-sharing payments to NHCN based on nickel revenues generated by the project; and (vi) through a joint effort minimizing unforeseen disruption and providing certainty for investment, access, and ownership of resource rights in respect of Minago.