Mr. Paul Davis reports

EV NICKEL REPORTS RESULTS OF 2025 DIAMOND DRILL HOLE PROGRAM - EXTENSION OF NICKEL MINERALIZATION ON GEMINI NORTH

EV Nickel Inc. has released assay results from 15 diamond drill holes completed as part of its 2025 diamond drill program at the Shaw Dome project. The program was designed to test the western extension of the Gemini North zone (10 holes) and evaluate regional targets associated with the CarLang C area (five holes).

Assay results have been received for all 15 holes drilled on the Shaw Dome project (see attached tables). Fourteen of the 15 drill holes intersected nickel mineralization associated with dunite and peridotite host rocks within the CarLang trend. The Gemini North zone is located at the northeastern end of the CarLang trend and represents an interpreted dunite/peridotite body measuring approximately 1,000 metres by 500 metres.

"Continuing to confirm the large-scale nickel potential of the Gemini North and CarLang C zones, EVNI is uniquely positioned to take advantage of increasing nickel prices given the balance of both large-scale and higher-grade nickel mineralization," said Paul Davis, vice-president of exploration. "Preliminary metallurgical test work indicates that the nickel mineralization associated with Gemini North responds better to sulphide flotation than other similar deposits, offering improved recovery potential and processing simplicity. As part of the company's strategy to advance the Gemini North project, EVNI is currently completing a preliminary mineral resource estimate, which is anticipated for release later this quarter."

Gemini North -- western extension

All 10 drill holes completed as part of the 2025 phase 2 diamond drill program (see Table 1) intersected nickel mineralization, confirming a western extension of the previously announced Gemini North nickel zone (see press releases dated March 19, 2025, and May 26, 2025).

The phase 2 program successfully extended nickel mineralization approximately 300 to 350 metres west of the phase 1 drill results, increasing the interpreted strike length of the host dunite/peridotite body to approximately 750 metres from east to west. Results from both phase 1 and phase 2 drilling will form the basis of a preliminary mineral resource estimate for the Gemini North zone, anticipated in Q1 2026.

Notably, intercepts containing elevated sulphur contents associated with higher nickel grades were encountered, including:

• EV25-GN22: 6.0 metres grading 0.37 per cent nickel and 0.25 per cent sulphur;
• EV25-GN15: 3.0 metres grading 0.44 per cent nickel and 0.10 per cent sulphur.

These results indicate that higher-grade, sulphide-bearing peridotite and dunite units may be continuous across the Gemini North zone.

CarLang C -- Gemini North regional drilling

Five additional diamond drill holes were completed on the eastern and southern margins of the Gemini North zone and within the eastern portion of the CarLang C area (see Table 3). Four of the five holes intersected broad zones of nickel mineralization ranging from 0.22per cent to 0.27 per cent nickel.

Significant intercepts include:

• EV25-CAR12: 73.5 metres grading 0.25 per cent nickel and 0.21 per cent sulphur;
• EV25-CAR11: 114.0 metres grading 0.27 per cent nickel and 0.07 per cent sulphur;
• EV25-CAR14: 16.5 metres grading 0.30 per cent nickel and 0.05 per cent sulphur.

These results confirm the potential for additional large-scale nickel mineralization hosted within dunite and peridotite units in both the Gemini North and CarLang C areas.

Hole EV25-CAR13 tested an isolated magnetic anomaly east of the CarLang C and Gemini North zones and intersected a thick sequence of iron formation, interpreted to be the source of the strong magnetic response.

Core handling and assay quality assurance/quality control procedures

NQ-sized drill core from the phase 2 diamond drill hole program, part of the Shaw Dome project, was sawn in half at the company's core logging facility located near the project site. One-half of the core was retained for reference, and the remaining half was bagged and transported to Activation Laboratories Ltd. (Actlabs) in Timmins, Ont., for sample preparation and analysis.

Certified reference materials and blanks were inserted into the sample stream by the company as part of its QA/QC program. At Actlabs, samples were crushed to 80 per cent passing two millimetres, with a riffle split pulverized to 95 per cent passing 105 microns. Nickel, copper, cobalt, iron and sulphur were analyzed by peroxide fusion with an ICP-OES finish. Gold, platinum and palladium were analyzed by fire assay with an ICP-OES finish.

Assay results may vary from time to time due to reanalysis conducted as part of continuing QA/QC procedures.

Granting of share-based compensation

The company also announces that it has granted 272,728 restricted share units (RSUs) to directors of the company.

Each RSU entitles the holder to receive one common share of the company upon vesting. The RSUs vest in equal tranches as follows: one-third after 12 months from the date of grant, one-third after 24 months and the remaining one-third after 36 months.

The RSUs were issued pursuant to the company's equity incentive plan, the applicable RSU agreements and the policies of the TSX Venture Exchange.

About EV Nickel Inc.

EV Nickel's mission is to provide the world with clean nickel from Tier 1 jurisdictions. The company's projects are located within 30 kilometres of Timmins, a developing hub of clean critical minerals for the North American battery and stainless steel markets as well as an important emerging critical mineral district for North American efforts to bring onshore the full vertical integration of electric batteries and vehicles.

EV Nickel aims to play an integral part of the North American onshoring initiative as the company's clean, low-carbon deposits can be an important source of supply to support the Inflation Reduction Act (IRA) and Ontario and federal policies and initiatives that strive to bring clean critical mineral production from Canada into the North American supply chain and globally.

In further support of this initiative, the company has and will continue to partner with environmentally responsible and ethical organizations from around the province and around the world to assist in developing these essential critical minerals. EV Nickel is also eager to collaborate with all stakeholders and leading sustainable engineering, mining, automotive and battery companies to provide this key input to support global decarbonization initiatives. The governments of Ontario and Canada are also providing significant legislative, policy and financial support to help ensure that the Timmins region becomes a leading participant in the developing North American supply chain for the clean energy transition.

Qualified person

The company's projects are under the direct technical supervision of Paul Davis, PGeo, vice-president of the company. Mr. Davis is a qualified person as defined by National Instrument 43-101. He has reviewed and approved the technical information in this press release. There are no known factors that could materially affect the reliability of the information verified by Mr. Davis.

We seek Safe Harbor.