2023 Operational and Project Highlights: The Company raised over $17 million for exploration, with cash and cash equivalents of $5,540,312 at the year end Completed aggressive exploration programs with 21,126 meters in 47 holes drilled in 2023. Adding results of 39,270 meters in 145 holes of new diamond drilling to the project database for the updated Mineral Resources estimation reported in Q1 2024, which includes: A 172% increase of Indicated Mineral Resources to 66.1 million tonnes (Mt) containing 1,093 million pounds (Mlb) copper at 0.75%, 678Mlb nickel at 0.47%, 79Mlb cobalt at 0.05%, 2.34 million ounces (Moz) palladium at 1.10 g/t and 0.42Moz platinum at 0.19 g/t. 80% of the Indicated Mineral Resources is Open Pit with 52.7Mt at 0.65% Cu, 0.43% Ni, 0.05% Co, 0.97g/t Pd and 0.17% Pt. Inferred Mineral Resources of 25.9Mt containing 558Mlb copper at 0.98%, 333Mlb nickel at 0.58%, 40Mlb cobalt at 0.07%, 1.12Moz palladium at 1.43 g/t and 0.21Moz platinum at 0.25 g/t. TORONTO, April 24, 2024 (GLOBE NEWSWIRE) -- Canadian North Resources Inc. ("the Company", TSXV: CNRI; OTCQX: CNRSF; FSE: EO0 (E-O-zero)) is pleased to announce the operational and financial results for the year ended December 31, 2023. "We have achieved an important milestone for the Ferguson Lake base metal (nickel, copper, cobalt) and PGM (palladium and platinum) Project ("the Ferguson Lake Project")," said Dr. Kaihui Yang, the President & CEO. "The Company raised over $17 million, accomplished aggressive exploration programs; added 39,270-meter drilling results to the database, and retained SRK Consulting and Ronacher McKenzie Geoscience to update the Mineral Resources estimation and 43-101 compliant Technical Report. We have received the statement of the updated Mineral Resources (Figure 1) that demonstrates the Ferguson Lake project is one of the highest-grade and largest undeveloped critical mineral projects in North America (Refer to the press release "Canadian North Resources Reports Substantial Increase of Copper, Nickel, Cobalt, Palladium and Platinum NI 43-101 Compliant Mineral Resources for its 100% owned Ferguson Lake Project in Canada" dated March 19, 2024, available on the Company's website and Sedar+. The technical report on the resource estimates, which is being prepared in accordance with National Instrument 43-101 ("NI 43-101"), will be available on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile within 45 days.) The effective date of the current Mineral Resource Statement is March 19, 2024.)". "This year we will continue to expand the mineral resources at the Ferguson Lake project," Dr. Yang added. "We will conduct follow-up metallurgical testing, commence economic evaluation and infrastructure and environmental studies for a low-carbon footprint mine development plan at the Ferguson Lake Project." Figure 1, the 3D model of the mineral resources for the West and Central Zones of the Ferguson Lake Project • The Company also engaged in the following activities in 2023: On January 7, 2023, the Company reported 5 new mineralized areas identified from the surface sampling programs over the 156.9 km2 prospecting area surrounding the 96.9 km2 mining leases of the Ferguson Lake Project. High-grade nickel-copper-PGM (up to 5.0% Cu, 0.99% Ni, 2.70g/t Pd, 0.62g/t Pt, 1.14g/t Au) was found in the samples (1.5-3.0 kg each) from the outcrops. The Company also reported high-grade gold (up to 52.3g/t) found at the Mac Island and South Mac Island prospects in the Kaminak Lake area (29.2 km2), and copper & gold mineralization samples (1.0-3.0 kg each) found on outcrops throughout the staked area. On February 21, 2023, the Company reported the geochemical assay results for the remaining 40 holes (of total 68 holes drilled) consisting of 10,550 meters (of the total 18,144 meters) from the diamond drilling program completed by the Company at its 100% owned Ferguson Lake property. The results extended the mineralized zones for 1,500 meters outside the block model for the updated mineral resources estimates (Refer to "Independent Technical Report, Updated Mineral Resource Estimate, Ferguson Lake Project, Nunavut, Canada. Prepared by Ronacher McKenzie Geoscience Inc. and Francis Minerals Ltd." filed by the Company to Sedar.com on July 13, 2022). On March 6, 2023, the Company reported the identification of extensive granitic pegmatites potentially hosting lithium-bearing minerals over the 253.8 km2 area of the 100% owned Ni-Cu-Co-Pd-Pt Ferguson Lake property. The potential for lithium minerals has never been explored at the Ferguson Lake area. The Company will undertake its first lithium-specific exploration programs during 2023. In mid-March, the Company opened the field camp at Ferguson Lake, shipped in fuel and drill materials and prepared for the winter/spring drilling program at Ferguson Lake. The Company signed the agreement with the Government of Nunavut on March 22, 2023. The government approved to provide $250,000 to the company to support the exploration expenditures, On March 31, 2023, $125,000 of the total amount has been received by the company. On April 3, 2023, the Company announced the commencement of a new 20,000-meter diamond drilling program to continue focusing on the drill testing of high-grade base metal and PGM targets along the 15-km-long main mineralized horizon, to expand and up-grade the mineral resources, and to test the new identified base metal and PGM targets throughout the Property. In early May, 2023, the Company granted its directors, officers and consultants, options to purchase a total of 2,750,000 Common Shares of the Company, at an exercise price of $2.45 per share.   On May 8, 2023, the Company engaged an investor relations firm, Paradox Public Relations Inc., to enhance our investor relations efforts and increase our visibility in the investment community. It was anticipated that their expertise and ...