Mr. Gerald Mitton reports

GERALD MITTON FILES EARLY WARNING REPORT

On Oct. 4, 2023, Gerald Mitton, an insider of Fort St. James Nickel Corp., acquired, pursuant to a private placement, ownership of one million units of the corporation at a price of six cents per unit, for an aggregate total of $60,000. Each unit is composed of one common share and one common share purchase warrant, whereby each warrant is exercisable into purchase one additional common share in the capital of the corporation at a price of eight cents per warrant share on or before Oct. 4, 2028.

As of the date hereof, Mr. Mitton has beneficial ownership, directly, and control over 8,980,338 common shares and 2.75 million share purchase warrants in the capital of the corporation.

The Fort St. James securities represent approximately 34.2 per cent of the outstanding voting common shares of the corporation on a non-diluted basis and 40.5 per cent on a partially diluted basis. The Fort St. James securities were acquired pursuant various transaction issuances by Fort St. James.

Mr. Mitton may, in the future, acquire or dispose of ownership and control over additional securities of the corporation for investment purposes.

This press release is issued pursuant to National Instrument 62-103 (the Early Warning System and Related Take-Over Bid and Insider Reporting Issues), which also requires a report to be filed with the applicable securities commissions or similar regulatory authorities in Canada, which report will contain additional information with respect to the foregoing matters. A copy of the early warning report will be filed on SEDAR+ under the corporation's profile.