Mr. Mark Selby reports

CANADA NICKEL SECURES FEDERAL APPROVAL FOR CRAWFORD NICKEL PROJECT

Canada Nickel Company Inc. has received a positive decision statement from the Minister of Environment, Climate Change and Nature for its Crawford nickel project, marking the first mining approval issued under Canada's amended Impact Assessment Act since 2019, establishing a precedent for how major natural resource projects advance through Canada's modern regulatory process.

Highlights:

• The Minister of Environment, Climate Change and Nature has issued a positive decision statement for the company's Crawford nickel project.
• The Crawford nickel project is the first mining project to receive a decision statement under Canada's amended Impact Assessment Act, 2019.
• The project is estimated to contribute approximately $70-billion to Canada's GDP (gross domestic product) and support approximately 185,000 person-years of employment.

Mark Selby, chief executive officer of Canada Nickel, said: "Today's decision recognizes the strategic importance of responsibly developing Canada's critical mineral resources in partnership with all levels of government and indigenous nations while maintaining rigorous environmental standards. I am very proud of our team, which completed this key federal permit in just four years and advanced Crawford from its fifth drill hole through feasibility study to today's milestone in under seven years -- substantially faster than typically required for large-scale projects. We thank the minister and the federal government for their support of Crawford and appreciate the thorough work undertaken by the Impact Assessment Agency of Canada. We look forward to continuing to advance Crawford towards a construction decision in 2027."

The Crawford nickel project was referred to the Major Projects Office by the government of Canada and selected as one of the first projects to advance under Ontario's One Project, One Process framework. The decision provides a template for how nationally significant resource projects can navigate Canada's impact assessment system and opens the door to broader development across the Timmins nickel district.

"The Crawford nickel project is an example of Canada's global critical minerals leadership, and today's approval is a testament to our government's commitment to getting projects approved and streamlining our permitting processes in a way that maintains rigorous environmental standards and respect for the rights of indigenous peoples. This is how we create investment certainty for Canadian mining here in Ontario and across the country, so we can be a critical minerals superpower and create economic growth and opportunity and enhance supply chain sovereignty for all Canadians," stated Tim Hodgson, Minister of Energy and Natural Resources.

Crawford is expected to become the Western world's largest nickel sulphide operation and North America's only primary source of chromium. Together, these two metals supply critical supply chains in defence, aerospace, stainless steel, electric vehicle batteries and advanced manufacturing. The Crawford nickel project also underpins Canada Nickel's broader vision for the potential to establish a zero-carbon industrial cluster in Northeastern Ontario leveraging the company's innovative carbon mineralization technologies and downstream processing opportunities.

The company has established significant indigenous partnerships, including a $20-million equity investment by Taykwa Tagamou Nation -- - the largest known first nation investment in a critical minerals project in Canada (see news release dated Dec. 16, 2024) -- as well as a major infrastructure contracting agreement with Wabun Tribal Council member first nations to support long-term economic participation.

An independent economic analysis, prepared by Mansfield Consulting, estimates the Crawford nickel project will contribute approximately $70-billion to Canada's GDP over the life of the mine, support approximately 185,000 person-years of employment, and generate significant long-term economic activity across Northern Ontario and Canada. The economic impact study was based on information from the company's feasibility study published in November, 2023.

With the federal decision statement now complete, Canada Nickel will continue advancing detailed engineering, project financing, and the remaining provincial and federal permits required ahead of planned construction.

About Canada Nickel Company Inc.

Canada Nickel Company is advancing the Crawford nickel project, located in the Timmins nickel district in Northeastern Ontario. Crawford is expected to be one of the world's largest nickel sulphide projects and is designed to produce low-carbon nickel while incorporating proprietary carbon mineralization technologies capable of permanently storing carbon dioxide. The company is also advancing the broader Timmins nickel district as a secure, long-term source of critical minerals for Canada and its allies.

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