News

Vancouver, British Columbia, January 26, 2021 – Huntsman Exploration Inc. (TSXV: HMAN; US:BBBMF) (the “Company” or “Huntsman”) is pleased to announce the following update to exploration and drilling activities at its Canegrass Nickel project in Western Australia.

Drilling Operations. The mobile camp for drilling operations was set up last week, and the first drill rig is now on site. Operations for the 18-hole drill program will commence immediately.  Preparations are also being made for the addition of a second rig.

Peter Dickie, President and CEO for Huntsman, commented, “We are excited to be commencing our drill program at Canegrass – which will follow up on the strong success of our maiden drilling in 2018. The first rig is now on site and we will be adding a second rig in the coming weeks. The strong interest we have received from the financial community has allowed us to commence work on multiple fronts, with the ground MLEM survey and drilling operations starting within days. We look forward to sharing further updates as the program progresses.”

Canegrass High-Grade Nickel Project, Western Australia

• High-grade nickel, copper, PGE and vanadium mineralization.
• Multiple, high-grade, near-surface drill results.
• Drilling success to date has been following up EM survey anomalies. More anomalies remain to be drill tested.
• Attractive Chemistry: Multi-element rock and soil sampling (historical).
• Located in the Windimurra Intrusive Complex, road accessible and 500 km from tidewater

Drill Program Details. The current program will include a planned initial 18 holes (3,160 m) of Reverse Circulation (RC) and Diamond (Core) drilling. Targets will include follow up holes to 2018 successes, as well as new, high priority areas, as outlined in the Company’s release dated January 5, 2021.  The new program will drill untested conductors identified in surface geophysics and continue assessing the extent of the Ni-Cu (Co) mineralization intersected in the previous campaign, including targeting the off-hole DHEM anomalies.

2018 drilling highlights include:

• BBRC001 (Winx) 14m @ 1.17% Ni, 0.88% Cu, 0.05% Co, 463ppb Pd and 375ppb Pt from 65m, including 1m @ 2.70% Ni, 0.23% Cu, 0.12% Co, 751ppb Pd and 723 ppb Pt.
• BBDD001 (Sunline) 0.57m @ 3.07 % Ni, 0.62% Cu and 0.24% Co from 144.1m.
• BBDD002 (Tulloch) 14.25m @ 0.69% Ni, 0.82% Cu and 0.05% Co from 243.2, including 4.9m @ 1.33% Ni, 1.26% Cu and 0.10% Co. 

All 2018 drill holes returned anomalous values of Ni, Cu, Co and were open along strike and at depth.  A limited number of holes in the 2018 program were also assayed for PGE’s, with results noted above.  The Company is exploring the potential to re-assay historic core in an effort to determine potential for PGE’s in additional areas.  Downhole electromagnetic (DHEM) testing identified anomalies in several holes, strongly suggesting mineralization is more extensive than intersected, which will be tested in the upcoming drill program.

MLEM Survey. As announced January 22, the Company will be commencing a Moving Loop Electromagnetic (MLEM) survey at the Canegrass nickel project on portions of the property where previous air and ground based EM data was limited.  GEM Geophysics have been contracted to perform the work, expected to commence shortly. The proposed work is designed to detect massive sulphide accumulations proximal to the Shepherds Discordant Zone (SDZ) and at depth.  Given that there are no sedimentary horizons within the area and that all conductors detected and drilled have been mineralized, any bedrock conductor that is detected will be considered highly prospective. 

The technical content of this news release with respect to Canegrass has been reviewed and approved by Nathan Tribble, P.Geo., a director of the Company and a Qualified Person pursuant to National Instrument 43-101. The qualified person has not yet visited the Canegrass Project and therefore has not yet verified the data disclosed, including sampling, analytical, and test data underlying the information or opinions contained in the written disclosure.

On Behalf of the Board of Huntsman Exploration Inc.

Peter Dickie
President and Chief Executive Officer

For more information, please contact 1-855-584-0160 or [email protected].

Neither TSX Venture Exchange, the Toronto Stock Exchange nor their Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements: Statements contained in this news release that are not historical facts are forward-looking statements, which are subject to a number of known and unknown risks, uncertainness and other factors that may cause the actual results to differ materially from those anticipated in our forward-looking statements. Although we believe that the expectations in our forward-looking statements are reasonable, actual results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.