Mr. Mark Selby reports

CANADA NICKEL PARTNERS WITH NETCARB TO ADVANCE NEXT-GENERATION CARBON SEQUESTRATION TECHNOLOGY

Canada Nickel Company Inc. has formed a strategic partnership with Australia-based NetCarb to collaborate on the commercialization of NetCarb's innovative carbon sequestration technology.

Highlights:

• New technology has potential to increase CO2 (carbon dioxide) sequestration capacity of Crawford nickel mineralization by up to approximately 10 times compared with Canada Nickel's proprietary IPT (in-process tailings) carbonation;
• Potential to reach more than 500 million tonnes of lifetime CO2 sequestration capacity at Crawford alone (10 million to 15 million tonnes of CO2 annually);
• Supports the development of a zero-carbon industrial cluster in Timmins.

Mark Selby, chief executive officer of Canada Nickel, said: "We are excited by NetCarb's novel technology, which represents the next generation of mineral-based carbon sequestration. While Canada Nickel's proprietary IPT carbonation process provides a carbon storage capacity facilitating as much as 1.5 million tonnes of annual CO2 storage capacity, the NetCarb process has the potential to increase the CO2 storage capacity of Crawford's tailings by a further magnitude to 10 to 15 million tonnes of annual carbon storage capacity, representing a magnitude-scale leap forward and the third generation of mineral-based carbon sequestration."

NetCarb technology

Unlike Canada Nickel's IPT carbonation process, which focuses solely on brucite, the NetCarb technology targets a more complete carbonation of serpentine minerals. This cutting-edge process involves serpentinite activation followed by hydrometallurgical processing of ore through a CO2 activity swing reactor that effectively dissolves and reprecipitates magnesium as solid carbonate minerals for permanent carbon dioxide sequestration.

This technological advance could enhance the carbon sequestration potential of ultramafic mineralization by more than tenfold. At the Crawford site, this advancement translates to a capacity for sequestering of over 500 million tonnes of carbon dioxide throughout the mine's 40-plus-year lifespan. Furthermore, with over 20 regional ultramafic exploration properties that host rocks with similar carbon sequestration potential, Timmins could become a multigigatonne hub for mineral carbon sequestration.

Dr. Luke Keeney, NetCarb managing director and chief executive officer, said: "We are excited to partner with Canada Nickel on advancing large-scale carbon mineralization solutions. This collaboration brings together NetCarb's breakthrough technology with Canada Nickel's world-class resources to unlock the full potential of permanent carbon storage. Together, we are accelerating progress toward net zero by combining innovation, natural geology and scalable infrastructure. This partnership marks a significant step in our mission to deliver impactful, economically viable climate solutions on a global scale."

Canada Nickel and NetCarb are committed to working together to secure government funding to upscale this technology using material from Canada Nickel's project portfolio. They aim to attract industrial partners across various sectors to continue to develop the net-zero industrial cluster in Timmins beyond the current Canada Nickel net-zero metals projects. Other potential collaborators may include natural gas power companies, hydrogen producers, biomass industries and others. Through these cross-industry collaborations, there is significant potential to create a zero-carbon industrial cluster in Northeastern Ontario, where various products and waste streams are converted into valuable byproduct streams for use in a wide range of industries.

Service agreement

The company has entered into a service agreement with Native Ads Inc., dated June 6, 2025, pursuant to which Native Ads will provide a marketing campaign for a total fees of up to $175,000 (U.S.), with a term of up to 12 months. Under the agreement, Native Ads will execute a comprehensive digital media advertising campaign for the company, where approximately 75 per cent of the campaign budget will be allocated to cost-per-click costs, media buying and content distribution, and search engine marketing. The remaining budget will be allocated for content creation, Web development, advertising creative development, search engine optimization, campaign optimization, and reporting and data insights services.

Native Ads is a full-service advertising agency based out of New York and Vancouver, B.C. Native Ads and its principals are arm's length to the company and hold no interest, directly or indirectly, in the securities of the company or any right to acquire such an interest. The engagement of Native Ads is subject to the approval of the TSX Venture Exchange.

About IPT carbonation

IPT carbonation is Canada Nickel's patent-pending technology designed to permanently store carbon dioxide by mineralizing it within mine tailings as part of normal processing operations. This innovative approach enables large-scale carbon sequestration without the need for external carbon capture infrastructure. By integrating carbon storage directly into the mining process, IPT carbonation offers a scalable, low-cost solution to decarbonize nickel and steel production while supporting global climate targets. Once operational, Canada Nickel's Crawford project is expected to become one of Canada's largest carbon storage sites.

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

Qualified person

Stephen J. Balch, PGeo (Ontario), vice-president, exploration, of Canada Nickel and a qualified person as such term is defined by National Instrument 43-101, has verified the data disclosed in this news release and has otherwise reviewed and approved the technical information in this news release on behalf of Canada Nickel.

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