Mr. Mark Selby reports

CANADA NICKEL ANNOUNCES FILING OF NI 43-101 TECHNICAL REPORT FOR PREVIOUSLY ANNOUNCED REID NICKEL SULPHIDE PROJECT INITIAL MINERAL RESOURCE

Canada Nickel Company Inc. has filed on SEDAR+ an independent technical report prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects supporting the initial mineral resource estimate for its 100-per-cent-owned Reid nickel sulphide project near Timmins, Ont. There are no material differences in the report from those results disclosed in the company's news release dated Dec. 23, 2024. The mineral resource estimate, effective as of Dec. 5, 2024, was prepared following the CIM (Canadian Institute of Mining, Metallurgy and Petroleum) Definition Standards for Mineral Resources and Reserves (Nov. 29, 2019).

Mark Selby, chief executive officer of Canada Nickel, said: "Reid is the second of eight additional resources we expect to publish by mid-2025. The size and scale of the Reid resource, which is significantly larger than the initial Crawford resource, validates our belief in the potential of the Timmins nickel district. Reid's target footprint is more than twice the size of our flagship Crawford project and benefits from a lower strip ratio of 1.2. We look forward to continuing to demonstrate the potential of this world-class nickel district."

The full technical report, dated Feb. 5, 2025, with an effective date of Dec. 5, 2024, is titled "National Instrument 43-101 Initial Mineral Resource Estimate for the Reid Nickel Deposit and Technical Report, Reid Nickel-Cobalt Sulphide Project." The report was prepared for Canada Nickel by Caracle Creek International Consulting Inc. and can be found under the company's issuer profile on SEDAR+.

Qualified person

Stephen J. Balch, PGeo (Ontario), vice-president, exploration, of Canada Nickel and a qualified person as defined in NI 43-101, has reviewed and approved the scientific and technical information in this news release.

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 sulphide project in the heart of the prolific Timmins-Cochrane mining camp.

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