Mr. John Paterson reports

EV NICKEL INTERSECTS 1.20% NICKEL OVER 9.80 METRES AT LANGMUIR SOUTH

EV Nickel Inc. has drilled a high-grade nickel intercept from its recently acquired Langmuir South nickel project, located near Timmins, Ont. (see table 2).

Drill hole EV26-L05, the first of four holes completed as part of a 1,772-metre diamond drill program, intersected a broad interval of high-grade nickel sulphide mineralization, returning 9.80 metres grading 1.20 per cent nickel (Ni), including higher-grade intervals of 2.30 metres grading 2.03 per cent Ni and 2.45 metres grading 1.49 per cent Ni (see table 1).

The hole was designed to test a previously identified high-grade nickel target and successfully intersected the mineralized zone at a vertical depth of less than 300 metres. Mineralization consists of disseminated to blebby sulphides with strong nickel tenors ranging from 25 per cent to 47 per cent Ni (calculated to 100 per cent sulphide).

"The result of the first hole confirms that the Langmuir South zone represents an excellent target for significant high-grade nickel sulphides," said Paul Davis, vice-president of exploration. "The Langmuir No. 2 and Langmuir South projects represent a unique opportunity to strengthen our already impressive stable of nickel deposits and mineralized zones. With mineralization encountered at relatively shallow vertical depth and in proximity to existing infrastructure at the historic Langmuir No. 2 mine, we believe there is strong potential to rapidly advance this area. Our 2024 drill results below the Langmuir No. 2 mine and hole EV26-L05 on the Langmuir South zone demonstrates that the area is extremely fertile in regard to high-grade nickel sulphide mineralization and its capacity for meaningful near-term resource growth."

The historic Langmuir No. 2 mining infrastructure, including a capped, 440-metre-deep mine shaft and associated drifts and raises, is almost wholly contained within the company's property boundaries. When shut down in 1978, the Langmuir No. 2 nickel mine was reported to have historical reserves at about 600,000 tons (more than 500,000 tonnes) averaging 1.45 per cent Ni (source: Ontario Geological Survey, miscellaneous paper 84, annual report of the regional and resident geologists, 1978, page 51, Timmins Daily Press, January, 1978). A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and the company is not treating the historical estimate as current mineral resources or mineral reserves.

The current drill program includes four holes, and is designed to test both the Langmuir South zone and extension of mineralization below and along strike from the historic Langmuir No. 2 mine workings. Assay results for the remaining three drill holes are pending and will be released as they become available.

Core handling and assay -- QA/QC (quality assurance/quality control) procedures

NQ drill core samples from the company's drilling program on the Geminin North zone forming part of the Shaw Dome project were sawn in half at the core logging facility located near the Shaw Dome project, with one-half being retained and the other half bagged and transported to Activation Laboratories Ltd. (Actlabs) in Timmins for preparation and analysis. Samples, along with certified standards and blanks, that are included by the company for quality assurance and quality control, were prepared and analyzed at the laboratory. At Actlabs, samples are crushed to 80 per cent passing two millimetres. A riffle split is pulverized to 95 per cent passing 105 microns. Nickel, copper, cobalt, iron and sulphur are analyzed by peroxide fusion with an ICP-OES (inductively coupled plasma optical emission spectroscopy) finish, and gold, platinum and palladium are analyzed by fire assay with an ICP-OES finish. These and future assay results may vary from time to time due to reanalysis for quality assurance and quality control.

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 news release. There are no known factors that could materially affect the reliability of the information verified by Mr. Davis.

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, and an important emerging critical mineral district for the North American efforts to bring on shore the full vertical integration of electric batteries and vehicles.

EV Nickel aims to play an integral part of the North American on-shoring 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, which 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 transition energy.

We seek Safe Harbor.