Ms. Misty Urbatsch reports

CORE NICKEL ANNOUNCES COMPLETION OF AIRBORNE GEOPHYSICAL SURVEYS AT HALFWAY LAKE AND RESTING LAKE PROJECTS IN THE CENTRAL THOMPSON NICKEL BELT, MANITOBA

Geotech Ltd. has completed helicopter-borne versatile time-domain electromagnetics (VTEM) and horizontal magnetic gradiometer geophysical surveys on the company's 100-per-cent-owned Halfway Lake and Resting Lake projects. The surveys totalled 1,307 line kilometres between the Halfway Lake (808 line kilometres) and Resting Lake (499 line kilometres) projects. The projects are situated in the central region of the Thompson nickel belt in Northern Manitoba, approximately 20 kilometres from the town of Wabowden. The projects feature significant nickel intersections based on historical drilling and are strategically positioned along an established trend with several nickel deposits and showings. Additionally, the area benefits from surrounding infrastructure, including Provincial Highway 6, the HBR (Omnitrax) rail line and a major hydroelectric transmission line along Highway 6.

Caitlin Glew, vice-president, exploration, of Core Nickel, commented: "The Core Nickel team would like to express our gratitude to Geotech Ltd. for their exceptional work in completing the airborne geophysical surveys on the Halfway Lake and Resting Lake projects. Our exploration team is currently working diligently to integrate the high-resolution geophysical data into the exploration model. The Halfway Lake and Resting Lake projects have extensive exploration potential and are now both fully permitted for mineral exploration work (ground geophysics and diamond drilling) for over a year. We are thrilled to have the opportunity to drill test high-priority targets from the geophysical surveys on both projects, getting us one step closer to a discovery."

Other business

Core Nickel is pleased to announce the receipt of a mineral exploration work permit for the 100-per-cent-owned Resting Lake project in the central Thompson nickel belt. The exploration work permit encompasses ground geophysical surveying and diamond drilling until April, 2025.

The company also announces that it has entered into an advertising contract with TAStocks.com, under which TA will provide publishing/advertising services, including social media engagement through X (formerly Twitter), Facebook, YouTube and Reddit. The initial term of the agreement is for 120 days, starting on July 25, 2024, and may be renewed with the mutual written agreement of TA and the company. During the initial term, TA's parent, Arrow Park Capital Corp., will be paid $12,000 plus taxes for the services to be provided. TA can be reached by e-mail (tastockscom@gmail.com) or phone (1-647-544-7207).

About Core Nickel Corp.

Core Nickel is a junior nickel exploration company that controls 100 per cent of five properties in the Thompson nickel belt, a prolific nickel district in Northern Manitoba, Canada. The five properties consist of approximately 27,000 hectares of land that is proximal to existing infrastructure such as highways and operating mills.

Core Nickel has a large contiguous land package in the northern part of the Thompson nickel belt, situated approximately 16 kilometres to 20 kilometres from the City of Thompson. Core Nickel's northern Thompson nickel belt projects consist of three properties: Mel, Hunter and Odei River. The Mel property encompasses the Mel deposit, which is characterized by a historical National Instrument 43-101 resource estimate with an indicated resource of 4.3 million tonnes at 0.875 per cent nickel, equating to 82.5 million pounds contained nickel, and a historical inferred resource estimate of one million tonnes at 0.839 per cent nickel, equating to 18.7 million pounds of contained nickel. The target stratigraphy (Pipe formation) that hosts the Mel deposit and other deposits in the Thompson nickel belt extends onto the Hunter and Odei River properties and drill hole intersections into the target stratigraphy on the Hunter project have successfully intersected elevated nickel.

The company also holds two properties in the central Thompson nickel belt near Wabowden: Halfway Lake and Resting Lake. Both properties host the target Pipe formation associated with known elevated nickel mineralization and are proximal to existing nickel deposits, mills and other infrastructure.

The qualified person under NI 43-101, Standards of Disclosure for Mineral Projects, for this news release is Caitlin Glew, PGeo, vice-president, exploration, for Core Nickel, who has reviewed and approved its contents.

Technical disclosure

The historical results contained within this news release have been captured from Manitoba Integrated Mining and Quarrying System (iMaQs) as available and may be incomplete or subject to minor location inaccuracies. Management cautions that historical results were collected and reported by past operators and have not been verified or confirmed by a qualified person but form a basis for continuing work on the subject properties.

We seek Safe Harbor.