Mr. Mark Selby reports

CANADA NICKEL ACHIEVES SIGNIFICANT PERMITTING MILESTONE FOR CRAWFORD NICKEL PROJECT

The Impact Assessment Agency of Canada (IAAC) has formally commenced the impact assessment phase under the federal Impact Assessment Act for Canada Nickel Company Inc.'s Crawford nickel project, following confirmation of the completion of the impact statement phase.

Highlights

• Federal review of the Crawford nickel project's impact statement is complete;
• Federal assessment impact initiated with permitting decision targeted by summer 2026.

Mark Selby, chief executive officer of Canada Nickel, said: "As we move into the impact assessment phase for Crawford, our focus is firmly on advancing the project with the same transparency and collaboration that has brought us this far. The completion of the impact statement phase is an important milestone, and we appreciate the thorough review by IAAC and the valuable input from federal and provincial authorities, indigenous nations, and the public. With the collaborative, parallel processing approach alongside IAAC, we anticipate being in a position to receive the federal permitting decision by summer 2026. We remain committed to working closely with all stakeholders and rightsholders as we enter this critical next stage of development."

On Nov. 22, 2024, Canada Nickel submitted its impact statement for Crawford to IAAC. Following a public comment period and technical review involving federal and provincial authorities, indigenous nations, and the public, IAAC provided comments on May 30, 2025, outlining additional information required to complete the impact assessment.

Canada Nickel submitted its responses to IAAC's comments on Dec. 30, 2025. IAAC has advised that the information provided, together with the original impact statement, satisfies the requirements of Subsection 19(1) of the Act. On March 3, 2026, IAAC published a notice on the Canadian Impact Assessment Registry formally ending the impact statement phase and initiating the impact assessment phase.

Pierre-Philippe Dupont, vice-president of sustainability, said: "Advancing into the impact assessment phase marks a significant step forward for Crawford, and builds on the extensive technical work, environmental planning and indigenous engagement that has gone into Crawford to date. We remain focused on ensuring the project meets the highest environmental standards while contributing to Canada's critical minerals strategy and climate objectives."

IAAC will prepare a draft impact assessment report and potential conditions based on information provided by Canada Nickel and input from federal and provincial authorities, indigenous nations, and the public. The draft report will include IAAC's preliminary conclusions regarding potential adverse effects within federal jurisdiction and whether any such effects are likely to be significant. The draft report and potential conditions will be made available for public comment prior to finalization and submission to the Minister of Environment and Climate Change and Nature to inform a decision under the act.

The Crawford nickel project, located in Ontario's Critical Minerals Corridor, is expected to be one of the largest nickel sulphide projects globally with the potential to support the development of a zero-carbon industrial cluster in the Timmins nickel district. Canada Nickel remains focused on responsible development, meaningful indigenous partnerships and delivering long-term economic benefits for both Ontario and Canada.

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, 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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