Mr. Mark Selby reports

CANADA NICKEL ANNOUNCES SHARE-BASED COMPENSATION GRANT

Canada Nickel Company Inc. has granted to certain officers and/or employees a total of: (i) 2,165,000 stock options to acquire common shares of the company; (ii) 835,000 restricted share units to be settled in common shares of the company; and (iii) 3,495,000 restricted share units with performance-based vesting conditions to be settled in cash only.

The options have an exercise price of 86 cents per common share, a five-year term from the date of grant and vest annually in equal thirds beginning on the first anniversary of the date of grant. The RSUs vest annually in equal thirds beginning on the first anniversary of the date of grant. The cash-settled RSUs will vest in their entirety upon approval from the board of directors to commence construction of the Crawford project. If a construction decision on the Crawford project is not made within one year from date of grant, the cash-settled RSUs may vest annually in equal thirds beginning on the first anniversary of the date of grant depending on certain market parameters established by the board.

The company has adopted a new deferred share unit plan, which was approved by shareholders at the company's annual and special meeting of shareholders held on May 28, 2025. The maximum aggregate number of common shares issuable pursuant to the DSU plan, when combined with all common shares reserved for issuance under all other security-based compensation arrangements of the company, shall not exceed 10 per cent of the total number of common shares outstanding from time to time. Effective May 9, 2025, the company granted to certain directors a total of 425,000 cash-settled deferred share units, which vest and settle in accordance with the terms of the DSU plan.

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 Company is currently anchored by its 100-per-cent-owned flagship Crawford nickel-cobalt sulphide project in the heart of the prolific Timmins-Nickel district.

We seek Safe Harbor.