Ms. Misty Urbatsch reports

CORE NICKEL UPSIZES FLOW-THROUGH PRIVATE PLACEMENT FINANCING FROM $1,500,000 TO $2,250,000

Core Nickel Corp. has received interest above the previously announced private placement offering of up to five million flow-through units (the FT units) at a purchase price of 30 cents per FT unit for gross proceeds of up to $1.5-million. Accordingly, the company is increasing the offering such that it now proposes to sell up to 7.5 million FT units at a price of 30 cents per FT unit for gross proceeds of up to $2.25-million. All other terms of the offering remain as set out in the company's earlier news release of Sept. 23, 2024. The offering remains subject to compliance with applicable securities laws and the policies of the Canadian Securities Exchange.

About Core Nickel Corp.

Core Nickel is a junior nickel exploration company that controls 100 per cent of five properties in a prolific nickel district -- the Thompson nickel belt (TNB) 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 kilometres 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 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 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 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 nor confirmed by a qualified person but form a basis for continuing work on the subject properties.

We seek Safe Harbor.