09:18 AM EST, 01/27/2026 (MT Newswires) -- NiCAN ( NILTF ) said Tuesday that it has identified a high priority gold target on its recently acquired claim located adjacent to the Pipy south property in Manitoba.

Among highlights, NiCAN ( NILTF ) said a historical diamond drill hole returned 6.63 grams per tonne (g/t) gold and 10.13 g/t silver over 5.6 meters within a wider, near-surface zone of mineralization averaging 1.20 g/t gold and 5.90 g/t silver over 47.0 m.

The orientation and true width of the gold bearing intersection are currently unknown and will be determined by future drilling, the company added.

"NiCAN ( NILTF ) is very intrigued by this new gold target in an area historically considered to host only nickel mineralization," President and Chief Executive Officer Brad Humphrey said. "This style of gold mineralization is relatively unique within the Thompson Nickel Belt, and NiCAN ( NILTF ) intends to re-examine historical data with a fresh perspective to identify additional opportunities along the belt. The company plans to commence geophysical surveys, followed by diamond drilling, to further examine the gold-bearing horizon."