Mr. Mark Selby reports

CANADA NICKEL PROVIDES CORPORATE UPDATE

Canada Nickel Company Inc. has extended the repayment date of the $15-million (U.S.) loan facility originally announced July 9, 2024, with Auramet International Inc. from April 25, 2025, to July 25, 2025, with an option to repay the loan prior to May 9, 2025, without any additional extension fee.

Mark Selby, chief executive officer and a director of Canada Nickel Company, said, "I am pleased that we are extending repayment of our loan with Auramet, allowing us to complete various strategic financing initiatives during this time frame, including the previously announced investment from Taykwa Tagamou Nation."

Loan extension

An extension fee of $345,802 (U.S.) will be paid by July 25, 2025, unless the loan is repaid prior to May 9, 2025, in which case the extension fee will be waived. The loan will carry an interest rate of 1.25 per cent per month for the extension period. The interest payable on the original loan amount and the extension loan amounts has also been deferred to July 25, 2025.

Auramet is one of the largest physical precious metals merchants in the world, with over $25-billion (U.S.) in annual revenues and which provides a full range of services to all participants in the precious metals supply chain. Auramet is a private company established in 2004 by seasoned professionals who have assembled a global team of industry specialists with over 350 years of combined industry experience. Its business consists of three main activities: physical metals trading; metals merchant banking (including direct lending); and project finance advisory services. The company has built a consistently successful and prominent franchise in the metals space on the back of an experienced management team that has proven to be innovative and capable of delivering the highest-quality service to participants in the sector. In fiscal year 2024, it purchased 7.4 million ounces of gold, 118 million ounces of silver and four million ounces of PGMs (platinum group metals), and has provided term financing facilities in excess of $1.25-billion (U.S.) to date. Auramet is looking to grow its capital investment business in equity, royalties and streams in the precious metals and battery related metals mining space.

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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