VIOR INC. announced that it has executed the Definitive Option and Joint Venture Agreement with SOQUEM Inc. for its recently consolidated Skyfall Nickel project, located in the Abitibi Greenstone Belt, Québec, In addition, Vior has just initiated on the Project, a project scale 3,400+ line kilometre helicopter-borne VTEM and magnetic survey, designed for identification and delineation of Ultramafic units. The Agreement outlines the final terms and conditions between Vior and SOQUEM; providing SOQUEM with the right to acquire a 50% undivided interest in the Project, and if the Option is exercised by SOQUEM, the Agreement outlines the terms and conditions for a future Joint Venture between the parties. This Agreement will be subject to receipt of all regulatory approvals, including acceptance and approval by the TSX Venture Exchange.

The Skyfall Nickel project is located in Quebec, approximately 150 kilometres east of Lebel-Sur-Quevillon and 102 kms south of Chapais. The Project, consisting of 973 claims has been consolidated by Vior over the past two years via numerous property acquisitions and map claim designations. When the consolidation of the Skyfall project began in early 2020, Vior recognized its considerable gold mineralization potential, as it is situated east of Osisko Mining's seven plus million-ounce gold Windfall project in the Urban-Barry greenstone belt.

This region is known for its gold deposits, and the Skyfall project still has the potential to be an extension of the Urban deformation zone. However, following the 2022 field season, Vior recognized that the Skyfall project, covering an area of 53,864 ha (or 538.6 sq.km.), encompasses the entire geological assemblage of a favorable host for potential nickel deposits not previously known. It is this shift in geological potential that has convinced the team at SOQUEM to pursue a partnership that will help to rapidly advance the understanding of Skyfall's district-scale potential and unlock the untapped possibilities of this promising region.

According to the Agreement, Vior will be the Operator, and SOQUEM will have the option to acquire a 50% undivided interest in the Project over a period of two (2) years beginning April 1, 2023, by fulfilling the following conditions: (i) Financing exploration work commitments totalling $2,500,000 as per the following schedule: (a) $500,000 before March 31, 2023; and (b) an additional $1,000,000 before March 31, 2024; and (c) an additional $1,000,000 before March 31, 2025 (ii) Cash payments to Vior totalling $350,000 as per the following schedule: (a) $50,000 on the signing of this definitive Agreement (b) $75,000 on or before April 1, 2023 (c) $100,000 on or before April 1, 2024; and (d) $125,000 on or before April 1, 2025 Upon satisfaction of all financial obligations required by SOQUEM to earn their 50% interest in the Project, the parties will then execute a Joint Venture for the Project with all terms and conditions set out in this Agreement. Vior recently identified a strong potential for nickel deposits at its Skyfall project after delineating a 47 km-long Mafic/Ultramafic (M-UM) lava sequence and identifying several small highly differentiated ultramafic intrusions. Field mapping and sampling have recognised volcanic textures including spinifex, differentiated flows, cumulates, and ultramafic sill along with confirming an ~30 km geochemical signature indicative of a komatiite domain.

In addition to these affirmatory features, the Vior technical team has identified a strong geophysical signature spanning 47 km, typical of known Archean Sulphide-Rich Komatiite Type Deposits, The Skyfall project is accessed by all season logging roads and is proximal to hydroelectric lines, and lodging. In the southern part of the Project, the bedrock exposer is extensive and easily accessible, which allows for cost-efficient exploration. Overall, the Project's location and favorable exploration conditions provide for a significant competitive advantage.

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