Mr. Mark Selby reports

CANADA NICKEL CLOSES PREVIOUSLY ANNOUNCED DEFINITIVE AGREEMENT FOR CREATION OF 'EXPLORECO' WITH SPIN-OUT OF EASTERN EXPLORATION PROPERTIES

Further to its news releases on July 8, 2024, and Jan. 7, 2025, on Feb. 21, 2025, Canada Nickel Company Inc. closed the previously announced definitive agreement with Noble Mineral Exploration Inc. for the consolidation of the Canada Nickel/Noble joint venture in Mann township and other Canada Nickel exploration projects east of Timmins into East Timmins Nickel Ltd. Previously referred to as ExploreCo in prior news releases, East Timmins is a private company owned 80% by Canada Nickel and 20% by Noble. As part of the transaction, Canada Nickel issued 162,000 common shares to Noble to be utilized to consolidate ownership of a set of properties that were owned by a third party. Please refer to the news releases on July 8, 2024, and Jan. 7, 2025, for additional information on the transaction. The closing of the transaction is subject to the final approval of the TSX Venture Exchange.

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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