Mr. Mark Selby reports

CANADA NICKEL ACHIEVES MAJOR PERMITTING MILESTONE WITH COMPLETION OF FILING OF IMPACT STATEMENT FOR CRAWFORD NICKEL SULPHIDE PROJECT

Canada Nickel Company Inc. has achieved a significant milestone with the completion of the filing of the impact statement for the Crawford nickel sulphide project with the Impact Assessment Agency of Canada on Nov. 22, 2024. The impact statement was prepared by Stantec, a global leader in sustainable design and engineering. This important step forward keeps the project on schedule to secure permits and make a construction decision in 2025.

"This submission is a reflection of the extraordinary work of our team and partners and our commitment to meaningful collaboration with indigenous communities and stakeholders," said Mark Selby, chief executive officer of Canada Nickel. "We've gone from the fifth drill hole in September, 2019, to become the first mining project in Canada to file an impact statement under the 2019 Impact Assessment Act. The ability to achieve this milestone in just over five years also reflects the federal government's commitment to timely and efficient permitting processes and effective engagement with proponents. It's a major step forward as we advance Crawford -- projected to be one of the world's largest and most sustainable nickel sulphide projects -- towards production."

Since 2021, Canada Nickel has conducted extensive baseline environmental and socio-economic studies to inform the impact statement, combining rigorous scientific analysis with valuable insights from indigenous knowledge and community input.

Highlights of engagement efforts:

• Financing indigenous nations to ensure authentic and meaningful participation, such as financing the nations' own traditional land use and socio-economic studies to guide project planning;
• Hosting technical working group sessions, community open houses and site visits with indigenous leadership, local leaders and regional stakeholders;
• Organizing environmental and socio-economic committees inclusive of local multidisciplinary subject matter experts to inform project planning.

"Throughout the impact statement, it is clear how much the company has prioritized minimizing impacts while maximizing the benefits this project will bring to the entire region," said Pierre-Philippe Dupont, vice-president of sustainability. "Since day one, we've taken a true partnership-based approach that has defined this entire process. By engaging early and often with indigenous nations, local communities and stakeholders, we've ensured this project reflects our shared priorities and values."

The Crawford nickel sulphide project is expected to generate significant benefits for Northern Ontario, including the creation of thousands of jobs, strengthening local businesses and contributing to economic growth. According to the company's bankable feasibility study, over its 41-year life cycle, the project is projected to generate more than $63-billion in revenue, over 1,000 jobs, $7-billion in federal and provincial income taxes, and a further $2.6-billion in provincial mining taxes from a total investment of $6.8-billion.

With the impact statement now filed and following the Impact Assessment Agency's confirmation review, the project will move into the indigenous and public consultation phase of the impact assessment process. Throughout this process, Canada Nickel remains committed to continuing dialogue with indigenous nations, stakeholders and government representatives to ensure the project progresses in alignment with its principles of sustainability, collaboration and delivering benefits to local communities.

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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