Mr. Mark Selby reports

CANADA NICKEL COMMENCES FRONT END ENGINEERING DESIGN AT CRAWFORD NICKEL SULPHIDE PROJECT

Canada Nickel Company Inc. has commenced front-end engineering design at the company's Crawford nickel sulphide project led by its long-term engineering partner Ausenco Engineering Canada ULC and supported by a number of engineering firms from the project's feasibility study.

Mark Selby, chief executive officer of Canada Nickel, said: "As we continue to successfully advance Crawford financing and permitting activities, we are confidently moving into this next phase of project development, which maintains our targets of a mid-2025 construction decision and first production by year-end 2027 by sufficiently advancing engineering on a number of fronts."

The front end engineering design (FEED) step in this next phase of project development is expected to be completed by August, 2024. FEED activities will be supported by data collected during the 2024 winter geotechnical program, which is currently nearing completion. This program was focused on continuing to derisk the project and acquiring sufficient data to allow a construction start once a decision has been made. This year's activities were focused in the process plant, primary crushing, mine stockpile and tailings management areas. These activities also included the driving of 24 test bearing piles in the process plant and primary crusher areas, which will be used for refining structural foundation designs.

Qualified person and data verification

Arthur G. Stokreef, PEng (Ontario), manager of process engineering and geometallurgy, and a qualified person as such term is defined by National Instrument 43-101, has reviewed and approved the technical information in this news release on behalf of Canada Nickel Company.

About Canada Nickel Company Inc.

Canada Nickel Company is advancing the next generation of nickel-sulphide projects to deliver nickel required to feed the high-growth electric vehicle and stainless steel markets. Canada Nickel Company has applied in multiple jurisdictions to trademark the terms NetZero Nickel, NetZero Cobalt and NetZero Iron, and is pursuing the development of processes to allow the production of net-zero carbon nickel, cobalt and iron products. Canada Nickel provides investors with leverage to nickel in low-political-risk jurisdictions. Canada Nickel is currently anchored by its 100-per-cent-owned flagship Crawford nickel-cobalt sulphide project in the heart of the prolific Timmins-Cochrane mining camp.

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