Mr. Mark Selby reports

CRAWFORD NICKEL PROJECT NAMED UNDER ONTARIO'S ONE PROJECT, ONE PROCESS FRAMEWORK

The Province of Ontario has formally named the Crawford nickel project as the second project to be advanced under the province's new one project, one process framework.

The 1P1P framework is designed to better co-ordinate Ontario's permitting and review processes for major mining developments by aligning timelines, responsibilities and information sharing across provincial ministries. For Canada Nickel, this designation reflects the advanced state, scale and strategic importance of the Crawford nickel project within Ontario's critical minerals strategy.

"Ontario is moving at lightning speed to open this 100-per-cent-Canadian-owned mine to create 4,000 jobs for Canadian workers," said Stephen Lecce, Minister of Energy and Mines. "In 2026, our government is going full-tilt to unlock one of the world's largest nickel deposits that will supercharge our economy and help end China's critical mineral dominance. Made in Canada from start to finish, as we build a domestic supply chain that includes the Western world's largest nickel sulphide mine, a new nickel processing plant and downstream alloy production facility."

"Today's announcement underscores the strategic significance of the Crawford nickel project for Ontario and the province's ambition to establish a world-leading, made-in-Ontario critical minerals supply chain," said Mark Selby, chief executive officer of Canada Nickel Company. "Crawford is purpose-built to anchor a new low-carbon mining and clean metals manufacturing corridor in Northeastern Ontario -- driving long-term economic growth, creating high-quality jobs and ensuring that value generation remains within the province. As the only mining project in Canada to secure this type of endorsement from both federal and provincial governments, today's announcement strengthens our commitment to commencing construction by year-end. We look forward to working with the province through its newly announced Critical Minerals Processing Fund to help realize these ambitions."

Importantly, Canada Nickel has engaged in comprehensive consultations with the Province of Ontario and reaffirmed that the 1P1P framework will complement -- not replace -- the company's long-standing commitments to indigenous nations, environmental stewardship or regulatory rigour. The framework is intended to enhance government co-ordination and efficiency while maintaining the highest standards for project development and community engagement.

Crawford is already advancing at the forefront of Canada's modernized regulatory framework, having become the first mining project in the country to submit an impact statement under the amended Impact Assessment Act, 2019, in November, 2024. Together with its designation under the 1P1P framework and its referral to the federal Major Projects Office in November, 2025, these milestones establish a clear path to responsibly accelerate development.

Crawford is expected to be the largest nickel sulphide project in the Western world and among the most economically significant mining developments in Canada. Independent analysis estimates the project will generate more than $70-billion in gross domestic product over its initial 40-plus-year mine life, including approximately $67-billion for Ontario alone, while supporting 1,000 direct and 3,000 indirect and induced jobs. Through its patented in-process tailings carbonation technology, Crawford is also expected to permanently store up to 1.5 million tonnes of carbon dioxide annually, positioning it to become one of Canada's largest carbon storage facilities and the world's first net-zero-carbon nickel mines.

All technical information derived in this news release is from the company's Crawford feasibility study, published in November, 2023.

Qualified person

Stephen J. Balch, PGeo (Ontario), vice-president, exploration, of Canada Nickel, a qualified person as such term is defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects), has reviewed and approved the technical information in this news release.

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 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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