Mr. Mark Selby reports

CANADA NICKEL'S CRAWFORD PROJECT CLEARS PENULTIMATE FEDERAL PERMITTING HURDLE

Impact Assessment Agency of Canada (IAAC) has published the draft impact assessment report for Canada Nickel Company Inc.'s Crawford nickel project, bringing Crawford one step closer to a final federal permitting decision, expected for early summer 2026.

Highlights

• Draft impact assessment report published by Impact Assessment Agency of Canada;
• First mining project to achieve this stage under 2019 Federal Impact Assessment Act;
• Final permitting decision targeted by early summer 2026.

The draft report represents the penultimate stage of the Federal Impact Assessment process and includes IAAC's preliminary conclusions regarding the project, as well as proposed conditions of approval.

Mark Selby, chief executive officer of Canada Nickel, said: "Crawford has now cleared every major milestone in the Federal Impact Assessment process, and we remain firmly on track for a final permitting decision by early this summer. Canada's Impact Assessment Act came into force in 2019 with a significantly broader mandate than its predecessor legislation -- requiring projects to demonstrate not just environmental responsibility, but positive outcomes across health, social and economic dimensions, and for indigenous peoples' rights. To have advanced Crawford from first drill holes to this milestone in just over six years, as the first mining project to do so under these more rigorous standards, reflects the quality of our team and the depth of work we have put into this project."

Mr. Selby continued, "We appreciate the thorough and collaborative approach taken by IAAC, and the valuable contributions of federal and provincial authorities, indigenous nations, and the public throughout this process."

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 statement phase. Canada Nickel submitted its responses to IAAC's comments on Dec. 30, 2025.

IAAC has confirmed 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. Today's announcement is the draft report from the impact assessment phase.

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

We seek Safe Harbor.