Mr. Mark Selby reports

CANADA NICKEL ANNOUNCES CLOSING OF A BOUGHT DEAL PRIVATE PLACEMENT FOR GROSS PROCEEDS OF C$15.0 MILLION

Canada Nickel Company Inc. has closed its previously announced bought deal private placement for gross proceeds of $15-million, which includes the exercise in full of the underwriters' option. Pursuant to the offering, the company sold 12.5 million units of the company at a price of $1.20 per unit.

Each unit consists of one common share of the company and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share of the company at a price of $1.80 at any time on or before Dec. 11, 2028.

Red Cloud Securities Inc. acted as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters that included Scotia Capital Inc., Cormark Securities Inc. and Haywood Securities Inc. As consideration for their services, the underwriters received an aggregate cash commission of $845,892 and were issued an aggregate of 704,910 non-transferable common share purchase warrants. Each broker warrant is exercisable into one common share of the company at the offering price at any time on or before Dec. 11, 2028.

The company also paid a cash finder's fee of $28,584 and issued an aggregate of 23,820 non-transferable finders' warrants to certain other eligible parties who introduced subscribers to the offering. Each finder warrant is exercisable into one common share of the company at the offering price at any time on or before Dec. 11, 2028.

The company plans to use the net proceeds of the offering for the advancement of the company's wholly owned Crawford nickel sulphide project as well as for working capital and general corporate purposes.

The closing of the offering remains subject to the final approval of the TSX Venture Exchange.

The securities issued or to be issued pursuant to the offering to purchasers in Canada are or will be subject to a four-month hold period in Canada pursuant to applicable Canadian securities laws. The units were offered to purchasers outside of Canada pursuant to an exemption from the prospectus requirements in Canada available under OSC Rule 72-503 -- Distributions Outside Canada and, accordingly, the securities issued pursuant to the offering to purchasers outside of Canada are not subject to a four-month hold period in Canada. The Broker warrants, the finder warrants and the securities issuable upon exercise thereof are subject to a four-month hold period pursuant to applicable Canadian securities laws.

About Canada Nickel Company Inc.

Canada Nickel 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, 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 nickel district.

We seek Safe Harbor.