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Recharge Resources Samples Up To 2,552 Ppm Nickel at Pinchi Lake Nickel Project in British Columbia

Recharge Resources Samples Up To 2,552 Ppm Nickel at Pinchi Lake Nickel Project in British Columbia

(TheNewswire)


Recharge Resources Ltd.


Vancouver, BC, Canada –
TheNewswire –
March 16
th, 2022 – Recharge Resources Ltd. (CSE:RR)
(CNSX:RR.CN)
(OTC:SLLTF) (Frankfurt:SL5) (“Recharge”
or the “Company”)
is pleased to announce new
nickel discoveries in the results of its 2021 exploration program
returning samples as high as 2,552 ppm Ni from rock samples and 3,050
ppm Ni in soils.

The Company’s 2021 exploration program has expanded
the previously underexplored Murray Ridge (Pinchi lake) Property, for
nickel-iron alloy (awaruite) mineralization. Multiple elevated soil
sample stations greater than 1000 ppm Ni and coupled with nearby
elevated outcrop and subcrop samples in excess of 2000 ppm Ni are
encouraging for further exploration targets. (See Table 1
below).

Table 1. Statistical comparison of Nickel in rock and
soils from 2021 exploration program. Nickel in ppm.



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Figure 1. Pinchi Lake Claim map – 3 areas of
interest



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President & CEO of Recharge Resources, Yari Nieken,
commented:
“We are
encouraged by the high-grade nickel sampling results from our 2021
exploration program and are now focused on upcoming 2022 work to
follow up on these discoveries. With the recent spike in global Nickel
prices, Recharge is well positioned to capitalize on this essential
metal for the electric vehicle revolution.”

“We have multiple highly
prospective battery metals exploration projects underway, targeting
lithium, nickel, copper, gold and palladium in active mining camps.
Throughout 2021, Recharge has advanced multiple projects and
significantly expanded our geological understanding and footprint at
Pinchi Lake to cover multiple historical Nickel occurrences that will
be further explored throughout our planned Phase 2 work program
at the recommendation
of our geological team. The company looks forward to an active 2022
exploration season as we

continue to develop our portfolio of battery metals projects in
highly prospective and mining friendly regions focusing on nickel and
lithium.”

Figure 2. Heli-borne Aeromagnetic Survey Results from
Pinchi Lake East and Mt. Nickel Claims



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Pinchi Lake – Nickel – British
Columbia

Recharge announced on October 7
th, 2021 that it
had expanded the
Pinchi Lake Nickel project,
l
ocated approximately 15 to 30 km northwest of
Fort St. James and 120 km northwest of Prince George in the Omineca
Mining District of Central British Columbia.

The Pinchi Lake Nickel project area was increased to
include
historical work at the recommendation of
the Company’s geological team, following a review of historic
workings in the surrounding area. The Pinchi Lake Nickel claims were
enlarged by 568 hectares (1,404 acres) to total size of 3,922.64
hectares (9,693.05 acres) to include areas of anomalous nickel
sampling results in three separate areas, indicated from previous
sampling as described in assessment reports on the BC
Government Aris website. The Company plans to conduct exploration
work on these new areas during its upcoming 2022 work programs.

Previous exploration in the region identified numerous
mercury showings associated with the regional Pinchi Fault structural
zone as well as chromite-low platinum-group-element occurrences hosted
within ultramafic-mafic intrusions. Previous work at Pinchi Lake was
focused on nickel-iron alloy mineralization (awaruite) in tectonized
and serpentinized ultramafic rocks of Cache Creek Group Trembleur
Intrusions. This is the first known attempt to locate awaruite in the
area. The geological and structural setting of the MR Property is
analogous to the Decar Project (First Point Minerals Ltd.) located
approximately 60 km to the northwest.

The Pinchi Lake property is underlain by the Lower
Pennsylvanian to Middle Triassic Cache Creek complex; a mixture of
calcareous and clastic sedimentary rocks intruded by the Trembleur
ultramafic and Rubyrock mafic intrusions. The Triassic to Jurassic
Takla Group and Tezzeron Sequence are located along fault bounded
contacts with older assemblage. The youngest is tonalite of the
Cretaceous Endako Batholith. Northwest striking faults and thrusts,
including the known Pinchi Lake Fault system, are characteristic of
the strong, structural trend throughout the region.

Pinchi Lake Nickel
:
https://recharge-resources.com/projects/murray-ridge-pinchi-lake/#Summary

Pinchi Lake Nickel Assessment Report:

https://aris.empr.gov.bc.ca/ArisReports/33773.PDF

Figure 3.

Nanton Nickel, 2013 rock sample
location and results from AR 34686



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Qualified Person

Jim Hutter, P.Geo., a qualified person as defined by NI
43 – 101, is responsible for the technical information contained in
this release. Readers are cautioned that the information in this press
release regarding the property of FPX Nickel Corp is not necessarily
indicative of the mineralization on the property of interest.

About Murray Ridge (Pinchi
Lake)

The Murray Ridge and Pinchi Lake nickel projects are
located approximately 15 to 30 kilometres northwest of Fort St. James
and 120 km northwest of Prince George in central British Columbia. The
project was previously explored by Nanton Nickel Corp. The project
consists of three separate claim blocks totalling 3,922.64 hectares
that were carefully selected to cover the best sampling results
(greater than 0.20 per cent nickel in rocks) reported by Nanton Nickel
Company in 2013 shortly after the discovery of the Decar nickel
property owned FPX Nickel Corp. Awerite was confirmed to be a
constituent of the nickel values.

The Decar nickel project geology which lies 60 km
southwest is analogous suite of ultramafic intrusions are hosts to
widely disseminated coarse grained awaruite mineralization.
Compositionally, awaruite (Ni2Fe-Ni3Fe) comprises approximately 75 per
cent nickel, 25 per cent iron and 0 per cent sulphur, and therefore it
is considered natural steel. Absence of sulphur allows a concentrate
to be shipped directly to steel mills without incurring smelting and
refining costs, and minimal environmental problems.
For further details on the project refer to the company’s
website or to the company’s press release dated August 3
rd, 2021.

About Recharge Resources

Recharge Resources is a Canadian mineral exploration
company focused on exploring and developing the production of
high-value battery metals to create green, renewable energy to meet
the demands of the advancing electric vehicle and fuel cell vehicle
market.

On Behalf of the Board of Directors,

“Yari Nieken”

Yari Nieken, CEO

For further information, please
contact:

Recharge Resources Ltd.
Mr. Joel Warawa
Phone: 778-588-5473
E-Mail:
info@recharge-resources.com

Website:
recharge-resources.com

Disclaimer for Forward-Looking
Information

Certain statements in this release are forward-looking
statements, which reflect the expectations of management regarding
Recharge’s intention to continue to identify potential transactions
and make certain corporate changes and applications. Forward looking
statements consist of statements that are not purely historical,
including any statements regarding beliefs, plans, expectations or
intentions regarding the future. Such statements are subject to risks
and uncertainties that may cause actual results, performance or
developments to differ materially from those contained in the
statements. No assurance can be given that any of the events
anticipated by the forward-looking statements will occur or, if they
do occur, what benefits Recharge will obtain from them. These
forward-looking statements reflect managements’ current views and
are based on certain expectations, estimates and assumptions which may
prove to be incorrect. A number of risks and uncertainties could cause
actual results to differ materially from those expressed or implied by
the forward-looking statements, including Recharge’s inability to
identify transactions having satisfactory terms or at all and the
results of exploration or review of properties that Recharge does
acquire. These forward-looking statements are made as of the date of
this news release and Recharge assumes no obligation to update these
forward-looking statements, or to update the reasons why actual
results differed from those projected in the forward-looking
statements, except in accordance with applicable securities
laws.

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