Mr. Mark Selby reports

CANADA NICKEL CLOSES C$4 MILLION PRIVATE PLACEMENT OF FLOW-THROUGH SHARES

Canada Nickel Company Inc. has completed a non-brokered private placement of an aggregate of 3.48 million common shares of the company that will qualify as flow-through shares (as defined in Subsection 66(15) of the Income Tax Act (Canada)) at an issue price of $1.15 per FT share, for aggregate proceeds of $4,002,000.

Mark Selby, chief executive officer, said: "After a highly successful exploration program in 2024, this financing allows us to continue to build on this success through the first half of 2025 as we continue to demonstrate the potential of the Timmins nickel district, including upgrading the initial mineral resources we have published for both Reid and Deloro and building on this year's high-grade discovery at Bannockburn. We look forward to publishing a total of eight mineral resources for our Timmins nickel district properties by mid-2025."

The gross proceeds from the offering will be used by the company to incur (or be deemed to incur) eligible resource exploration expenses that will qualify as (i) Canadian exploration expenses (as defined in the Income Tax Act (Canada)), (ii) flow-through critical mineral mining expenditures (as defined in Subsection 127(9) of the Income Tax Act (Canada)), and (iii) eligible Ontario critical mineral exploration expenditures within the meaning of Subsection 103(4.1) of the Taxation Act, 2007 (Ontario). Qualifying expenditures in an aggregate amount not less than the gross proceeds raised from the issuance of the FT shares will be incurred (or deemed to be incurred) by the company on or before Dec. 31, 2025, and will be renounced by the company to the initial purchasers of the flow-through shares with an effective date no later than Dec. 31, 2024.

All securities issued under the offering will be subject to a hold period expiring four months and one day from the closing date of the offering in accordance with applicable Canadian securities laws.

About Canada Nickel Company Inc.

Canada Nickel 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 is currently anchored by its 100-per-cent-owned flagship Crawford nickel sulphide project in the emerging Timmins nickel district. Canada Nickel 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.

We seek Safe Harbor.