Mr. Mark Selby reports

CANADA NICKEL CLOSES NON-BROKERED PRIVATE PLACEMENT FOR GROSS PROCEEDS OF C$21.0 MILLION

Canada Nickel Company Inc. has closed the company's upsized non-brokered private placement for gross proceeds of $21-million previously announced on Aug. 12, 2026. Pursuant to the offering, the company sold 14 million units of the company at a price of $1.50 per unit.

As part of the offering, 666,667 units were issued to Avenir Minerals Ltd. following the exercise of certain pro rata participation rights in respect of the offering pursuant to an investor rights agreement between the company and an affiliate of Avenir dated Dec. 29, 2023.

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 $2.25 at any time for a period of 36 months following the issue date.

The units were offered to purchasers outside of Canada pursuant to an exemption from the prospectus requirements in Canada available under Ontario Securities Commission 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 hold period in Canada. The securities issued pursuant to the offering to Avenir are subject to a hold period expiring four months and one day from the issue date in accordance with applicable Canadian securities laws.

The company plans to use the net proceeds of the offering to support permitting and engineering activities for the advancement of the company's projects, repayment of outstanding indebtedness, and working capital and general corporate purposes.

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 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 nickel district.

We seek Safe Harbor.