Mr. Binyomin Posen reports

CUMBERLAND RESOURCES STRENGTHENS POSITION IN HIGH-POTENTIAL ANTIMONY REGION WITH NEW CLAIM STAKING

Cumberland Resources Nickel Corp. has staked 30 contiguous, single-cell, unpatented mining claims, covering approximately 600 hectares in Darling township, southeastern Ontario. These newly staked claims run parallel to the 44 claims secured by the company earlier in November, 2024. Together, Cumberland now holds a substantial land package exceeding 1,400 hectares in Darling township.

As the company expands its portfolio in Darling township, the focus remains on identifying and unlocking the value of critical minerals, with antimony being a primary target. Antimony's strategic importance in industries such as renewable energy, defence and electronics aligns with Cumberland's commitment to supporting domestic resource development.

Strategically located only 300 kilometres east of Toronto, this region benefits from exceptional infrastructure, including reliable hydroelectric power, accessible road networks and proximity to a highly skilled work force.

The Ontario Geological Survey's Ontario Mineral Inventory identifies nine documented occurrences of antimony within Darling township and the adjacent Lavant township, associated with gold, copper and silver mineralization. While some of these occurrences are located on private lands or within pre-existing claims, the region's geology presents significant exploration potential. Antimony occurrences are predominantly hosted in ferroan dolomites within the Robertson Lake mylonite zone, a promising geological structure for mineral exploration.

Antimony prices have surged dramatically in 2024, driven by increasing demand and China's export restrictions. According to Reuters, prices surpassed $22,000 per metric tonne in August, 2024, more than doubling since the start of the year. Analysts project the trend could push prices as high as $30,000 per metric tonne, highlighting antimony's critical role in modern supply chains. This upward trajectory underscores the importance of securing domestic sources for this strategic mineral (source: Reuters, Aug. 15, 2024, "Antimony prices gear up for new records on China export curbs").

The newly acquired claims adjoin Cumberland's previously staked Darling Lake gold, copper and tetrahedrite occurrence, further strengthening the company's foothold in this high-potential area. Cumberland's holdings bracket the eastern end of the RLMZ, widely regarded as the most favourable target for gold exploration. The interplay of intersecting faults and splays within this zone will be the highest priority for exploration.

Additionally, the company announces that its board of directors has approved the adoption of an omnibus equity incentive plan. This plan is designed to enhance the company's ability to attract, retain and motivate qualified directors, officers, employees and consultants while aligning their interests with those of shareholders. The omnibus equity incentive plan provides a flexible and comprehensive framework for granting equity-based awards, including stock options, restricted share units, performance share units and deferred share units. The plan aims to reward eligible participants for their contributions to the company's success and to encourage long-term investment in Cumberland's shares.

The plan reserves up to 10 per cent of the company's total issued and outstanding shares for awards under the plan, adhering to the evergreen structure. Shares subject to expired or terminated awards will become available for future grants.

Awards under the plan are subject to a range of vesting schedules and performance criteria as determined by the company's board of directors or its delegate.

Specific limits ensure compliance with regulatory standards, including restrictions on grants to insiders, consultants and those engaged in investor relations activities.

In addition, the company announces, subject to Canadian Securities Exchange approval, the grant of six million RSUs to strategic consultants to the company. These RSUs will vest four months and one day from the day of grant.

Qualified person

The scientific and technical disclosure for Cumberland included in this news release has been reviewed and approved by Mark Smyk, PGeo. Mr. Smyk is a technical adviser to the company and a qualified person under National Instrument 43-101 (Standards of Disclosure of Mineral Projects).

About Cumberland Resources Nickel Corp.

Cumberland is committed to acquiring, exploring and advancing mineral properties that address critical resource needs in North America. The company holds a 100-per-cent interest in the St. Anthony property, a prospective mineral asset located in Newfoundland, Canada, strategically positioned in a region known for its rich mineral potential. Recently, Cumberland significantly expanded its exploration portfolio by staking a substantial land package in Darling township, southeastern Ontario, located approximately 300 kilometres east-northeast of Toronto. This property, now exceeding 1,400 hectares, targets critical mineral exploration with a focus on antimony -- an element vital to renewable energy, defence and electronics industries. The area boasts excellent infrastructure, including hydroelectric power, well-developed road networks and access to a highly skilled work force, creating an optimal environment for exploration and development.

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