Mr. Mark Selby reports

CANADA NICKEL SIGNS CONTRACTING AGREEMENT WITH MATTAGAMI, MATACHEWAN, AND FLYING POST FIRST NATIONS FOR CRAWFORD NICKEL SULPHIDE PROJECT

Canada Nickel Company Inc. signed an important agreement on March 3, 2025, with Mattagami First Nation, Matachewan First Nation and Flying Post First Nation (members of the Wabun Tribal Council) regarding the Crawford nickel sulphide project. This agreement represents a significant step forward in advancing the Crawford project while fostering collaboration with first nations.

The agreement sets the framework for early business and employment opportunities while the parties continue to work toward a comprehensive impact benefits agreement (IBA). The agreement includes commitments for open-book negotiations on key contracting opportunities, including the construction of a 25.2-kilometre railway line, the relocation of Highway 655 and the construction of a temporary overpass on Highway 655. These initiatives aim to foster economic development while addressing the priorities of the three first nations. Scheduled between 2025 and 2029, these projects will prioritize first nation businesses and promote own-source revenue, foster partnerships and support regional growth.

"This agreement provides a genuine starting point for addressing the impacts of the Crawford project on our lands and people. It's a positive step towards ensuring Matachewan First Nation's members' voices are heard and our rights are respected," stated Chief Alex (Sonny) Batisse, Matachewan First Nation.

"This agreement reflects an important recognition of our role as stewards of our traditional territory and speaks to Mattagami First Nation's history of and continued economic success through partnerships with proponents. While more work lies ahead through our ongoing IBA negotiations, I am extremely optimistic about the opportunities that working in partnership with Canada Nickel will bring for our members," stated Chief Jennifer Constant, Mattagami First Nation.

"Flying Post First Nation has a long history of protecting our lands and advocating for equitable partnerships, which is why we are pleased to be partnering with a company that has sustainability at the forefront of its operations. This agreement and our partnership is just the beginning of a much longer journey," stated Chief Murray Ray, Flying Post First Nation.

"This agreement is a milestone in the development of the Crawford project and reflects our commitment to meaningful partnerships with first nations and our respect for the traditional territories in which we are fortunate to operate. We value our ongoing work with Flying Post, Mattagami and Matachewan First Nations and the collective advocacy efforts of Wabun Tribal Council, and we look forward to building on this foundation to deliver long-term benefits for their membership, our project and the region writ large," stated Mark Selby, chief executive officer of Canada Nickel.

"This agreement demonstrates the strength of collaboration and our ability to negotiate meaningful opportunities when the rights of first nations are respected. As recipients of the Skookum Jim Award from the Prospectors and Developers Association of Canada (PDAC) for excellence in indigenous participation, we take pride in our success negotiating collective benefits for the first nations we represent. While there is still much work to be done, it is a step in the right direction as we continue to work towards an IBA that fully respects the rights and maximizes the benefits for our members," stated Jason Batise, executive director and lead negotiator for Wabun Tribal Council.

The agreement also establishes mechanisms for transparency and collaboration, including regular engagement sessions and the appointment of a first nation business representative to co-ordinate opportunities within the project. Key initiatives under the agreement include prioritized access for first-nation-owned businesses to participate in contracts and in specialized training programs to enhance local skills development. By integrating these commitments into the Crawford project's framework, Canada Nickel aims to ensure it becomes a model for responsible resource development and meaningful first nation partnership.

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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