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Canadian North Resources Inc. Reveals Major 2023 Achievements and Financial Outcomes

Canadian North Resources Inc. (TSXV: CNRI; OTCQX: CNRSF; FSE: EO0) announced its operational and financial results for the year ended December 31, 2023, marking significant progress in their metal and PGM exploration.

2023 Highlights and Exploration Successes

The company successfully raised over $17 million for exploration efforts, finishing the year with substantial cash reserves. They completed comprehensive exploration programs, including drilling over 21,126 meters across 47 holes in 2023.
Significant mineral resource updates were achieved, with a notable 172% increase in indicated mineral resources, demonstrating the project’s high grade and considerable scale in critical minerals like copper, nickel, cobalt, palladium, and platinum.

Strategic Developments and Future Plans

Dr. Kaihui Yang, President & CEO, highlighted ongoing efforts to expand the Ferguson Lake project’s mineral resources. The company’s 2023 activities set a promising foundation for continued exploration and development, aiming for low-carbon-footprint mine development.
Subsequent activities include advanced metallurgical testing and infrastructure studies to bolster project economics and sustainability.

Expanding Investor Relations and Market Visibility

Following strategic engagements, including investor relations enhancements and participation in notable industry events, the company aims to boost its market performance and investment community visibility.

For the year, the company reported a net loss but remains focused on leveraging its exploration success towards sustainable growth and value creation for shareholders.

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