Mr. Mark Selby reports

CANADA NICKEL RELEASES 2024 ESG REPORT

Canada Nickel Company Inc. has released its 2024 environmental, social and governance (ESG) Report, showcasing continued progress across carbon storage innovation, indigenous partnerships, local economic development, health and safety, and environmental stewardship. The report underscores Canada Nickel's growing role in Ontario's critical minerals corridor and outlines the company's strategy to responsibly supply the materials essential to Canada's clean energy transition and defence resilience.

"The milestones achieved in 2024 reflect the strength and vision of our team and the powerful model we're building with indigenous nations and communities across the Timmins nickel district," said Mark Selby, chief executive officer of Canada Nickel. "With major partnerships, a unique carbon storage solution and strong support across the region, we are proud to be advancing nickel in a way that is inclusive, future focused, and aligned with the goals of both the governments of Ontario and Canada's critical minerals strategies."

Throughout 2024, Canada Nickel deepened its collaboration with indigenous nations, advanced low-carbon technologies, and reinforced its commitment to responsible development through transparent reporting and inclusive governance. The company's efforts position it not only as a cleaner nickel producer than the industry standard but as a trusted partner in shaping the next generation of sustainable mining in Canada.

"Indigenous partnerships and community stewardship are not a side project at Canada Nickel -- they are embedded into how we operate," said Pierre-Philippe Dupont, vice-president of sustainability. "We are building more than a mine; we are helping build a resilient, low-carbon critical minerals corridor that reflects the values of the communities we work with. From equity ownership and business partnerships to direct investment in local infrastructure, this is what inclusive growth looks like."

Key highlights from Canada Nickel's 2024 ESG report:

• Indigenous partnerships and engagement:
  • Canada Nickel signed a landmark contracting agreement with Flying Post, Matachewan and Mattagami First Nations to ensure indigenous business leadership in infrastructure construction for the Crawford project.
  • Taykwa Tagamou Nation became the first indigenous nation in Canada to invest $20-million in a critical minerals project, securing an equity stake and the right to appoint a director to Canada Nickel's board.
  • Formal mitigation measures and engagement processes were established with all potentially impacted indigenous nations through the submission of the federal impact statement for the Crawford nickel sulphide project.
• Environmental stewardship and climate innovation:
  • Pilot testing of the company's in-process tailings (IPT) carbonation technology confirmed the potential to permanently store up to 1.5 million tonnes of carbon dioxide annually, establishing the Crawford site as one of North America's largest proposed carbon sinks.
  • Water intensity decreased to 0.38 cubic metre per metre drilled in 2024 from 0.48 despite a 464-per-cent increase in drilling through water recycling, tracking and on-site flow meters.
  • No environmental non-compliance incidents were recorded, reinforcing the company's strong environmental performance.
• Local economic contributions:
  • Sixty per cent of new hires in 2024 were local and 37 per cent of $32.5-million in procurement spent was directed to local suppliers in the Timmins region.
• Governance and leadership:
  • Female representation was 33 per cent on the company's board and 34 per cent across the broader work force -- more than twice the industry average.
• Reporting and transparency:
  • Canada Nickel remains one of the only junior mining companies in Canada to have produced three consecutive ESG reports aligned with the United Nations Global Compact, Global Reporting Initiative and the United Nations Sustainable Development Goals, with the last two reports also aligning with the Task Force on Climate-related Financial Disclosures.

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 sulphide project in the heart of the prolific Timmins-Cochrane mining camp.

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