09:21 AM EDT, 03/24/2026 (MT Newswires) -- NiCAN ( NILTF ) on Tuesday said diamond drilling has started at the Pipy South Property, which is adjacent to the Mystery Lake South area, located about 10-20 kilometres northeast of the City of Thompson, Manitoba.

The company said the objective of this follow-up diamond drilling program is to expand both the New Gold Discovery and the Nickel-Bearing Massive Sulphides intersected in the recently announced 2025 program. It added this program is expected to consist of about 2,500 meters of drilling in 12-15 drill holes.

"NiCAN ( NILTF ) will also drill test down-dip and along the strike extent of the recent nickel intersection," said NiCAN ( NILTF ) Chief Executive Brad Humphrey. "Following the recently announced expansion of Pipy South's land position, tripling the project's size, the company is now able to broaden its exploration efforts in search of additional gold and nickel zones."

Shares of the company closed up 10% to $0.105 on Monday on the TSX Venture Exchange.