News

Vancouver, British Columbia, February 16, 2021 – Huntsman Exploration Inc. (TSXV: HMAN; US:BBBMF) (the “Company” or “Huntsman”) is pleased to announce that drilling at its Canegrass Nickel project in Western Australia has intersected nickel sulphides in multiple holes along a 7 km mineralized trend. Phase 1 of the 2021 drill program is following up on the Company’s successful first-pass program, which encountered high-grade nickel, copper, cobalt and palladium at shallow depth in several holes. Assays on current operations are pending and drilling is ongoing.

2021 Drill Program Highlights

• Majority of drilling to date has encountered encouraging nickel sulphides within very favourable geological units.
• Two rigs (one Diamond drilling and one Reverse Circulation) are on site testing Nickel zones along 7 km of the mineralized trend in the layered igneous complex.
• Phase I drilling has completed 14 holes at multiple targets. Total program includes 16 holes totalling approximately 3,500 m.
• All assays are pending, however, specific drill intervals have been submitted for “rush assay” treatment to help further understanding of high priority zones.

Ongoing Property Wide Exploration

MLEM Survey. The extensive Moving Loop Electromagnetic (MLEM) survey has commenced. The survey will cover portions of the property where previous ground-based EM data was limited. The drilling and MLEM work is designed to detect massive sulphide accumulations proximal to the Shepherds Discordant Zone (SDZ) and at depth. There are no sedimentary horizons within the area and, given that all conductors detected and drilled to date at Canegrass have been mineralized, any new bedrock conductor that is detected will be considered highly prospective. The MLEM program will concentrate on areas west of the shear zone, with additional work on eastern areas to follow.

Peter Dickie, President and CEO for Huntsman, commented, “We are excited at the encouraging, early indications of drilling success at the Canegrass nickel project. The team is looking forward to receiving the assays, as well as the data from the MLEM survey and additional downhole EM work. The previous EM survey was highly instrumental in prior drilling success and will enable rapid definition of new targets. We will continue to share further updates as results come in.”

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.

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.