Ms. Misty Urbatsch reports

CORE NICKEL RECEIVES $300,000 GRANT FROM THE MANITOBA MINERAL DEVELOPMENT FUND

Core Nickel Corp. has been approved for a $300,000 grant from the Manitoba Mineral Development Fund (MMDF) to support exploration activities on its projects in the Thompson nickel belt in Manitoba. The company has received the first $100,000 of the grant, with the remainder expected by June, 2025.

Misty Urbatsch, president and chief executive officer of Core Nickel, commented: "Core Nickel sincerely appreciates the support from the Manitoba Mineral Development Fund and the Manitoba Chambers of Commerce. This $300,000 non-repayable grant provides non-dilutive funding to advance our exploration efforts in the Thompson nickel belt and reinforces our confidence in Manitoba as a premier jurisdiction for critical mineral exploration."

The MMDF is a $20-million provincial fund, administered by the Manitoba Chambers of Commerce, that provides funding for northern economic development and mining projects that create indigenous partnerships, increase local employment and stimulate investment in Northern Manitoba.

About Core Nickel Corp.

Core Nickel is a junior nickel exploration company that controls 100 per cent of five projects in the Thompson nickel belt (TNB), a prolific nickel district located in Northern Manitoba, Canada. The five projects consist of approximately 27,000 hectares of land that is proximal to existing infrastructure, including 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 15 kilometres to 20 kilometres from the city of Thompson. Core Nickel's northern TNB land package consists of three projects: Mel, Hunter and Odei River. The Mel project encompasses the Mel deposit, which is characterized by a historical mineral resource consisting of an indicated resource of 4,279,000 tonnes grading 0.875 per cent nickel, plus an inferred resource of 1.01 million tonnes grading 0.839% Ni, at a cut-off of 0.5% Ni.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 projects and drill hole intersections into the target stratigraphy on the Hunter project have successfully intersected anomalous nickel.

The company also holds two projects in the central TNB near the community of Wabowden: Halfway Lake and Resting Lake. Both projects 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.

We seek Safe Harbor.