Ms. Misty Urbatsch reports

CORE NICKEL ANNOUNCES UP TO $400,000 FLOW-THROUGH PRIVATE PLACEMENT FINANCING

Core Nickel Corp. proposes to undertake a non-brokered private placement of up to eight million flow-through units at a price of five cents per FT unit for proceeds of up to $400,000 if the offering is fully subscribed. The FT units are being offered to qualified purchasers in reliance upon exemptions from prospectus and registration requirements of applicable securities legislation.

Each FT unit will consist of one flow-through common share of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder to purchase one common share of the company at a price of six cents at any time on or before that date which is three years after the closing date of the offering.

The gross proceeds received from the sale of the FT units will be used for helicopter-borne versatile time domain electromagnetics and horizontal magnetic gradiometer geophysical surveys across its 100-per-cent-owned Mel and Odei River exploration properties. Additionally, the funds will support part of the winter drilling program, which will focus on high-priority targets identified from the VTEM surveys conducted in 2024.

All securities issued and sold under the offering will be subject to a hold period expiring four months and one day from their date of issuance in accordance with the policies of the Canadian Securities Exchange and applicable securities laws.

About Core Nickel Corp.

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

Core Nickel has a large contiguous land package in the northern part of the TNB, situated approximately 16 to 20 kilometres from the city of Thompson. Core Nickel's northern TNB 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 1.0 million tonnes at 0.839 per cent nickel, equating to 18.7 million pounds of contained nickel (1). 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 intersected elevated nickel.

The company also holds two properties in the central TNB 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 National Instrument 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.

Reference

(1) "Technical Report on the Mel Deposit, Northern Manitoba," prepared for Victory Nickel Inc., Shane Naccashian (PGeo) of Wardrop Engineering Inc., March 9, 2007.

Technical disclosure

The historical results contained within this news release have been captured from the Manitoba integrated mining and quarrying system as available and may be incomplete or subject to minor location inaccuracies. Management cautions that historical results were collected and reported by past operators, which have not been verified nor confirmed by a qualified person, but form a basis for continuing work on the subject properties.

We seek Safe Harbor.