Mr. Peter Damouni reports

MASON RESOURCES ANNOUNCES STRATEGIC INVESTMENT IN QUEBEC FOCUSED NORTHX NICKEL

Mason Resources Inc. invested $1-million in NorthX Nickel Corp., formerly known as Archer Exploration Corp., under a private agreement transaction as part of a private placement of $2,275,000 in units of NorthX announced by NorthX on April 26, 2024. Pursuant to the transaction, Mason subscribed to 4,166,667 units at a price of 24 cents per unit, each unit being composed of one common share of NorthX and one share purchase warrant of NorthX, and each warrant entitling Mason to purchase one share at a price of 36 cents per share until May 14, 2027.

NorthX is focused on the exploration and development of the Grasset project, located within the Abitibi greenstone belt in Quebec. The Grasset project has an indicated resource of 5.5 million tonnes (Mt) at 1.53 per cent nickel equivalent (NiEq).

Fahad Al-Tamimi, chairman of Mason, commented: "We are thrilled to announce this strategic investment, which seamlessly aligns with our commitment to bolstering our presence in Quebec's battery material sector. The Grasset project stands out as one of the most promising nickel assets in North America. Drawing from the invaluable success of Nouveau Monde graphite, we recognize the critical need for a North American source of nickel to sustain the region's burgeoning battery production. With Grasset's exceptional high-grade quality and its current undervaluation, this investment in Quebec represents an exceptionally compelling opportunity for Mason."

Prior to the transaction, Mason did not own any shares. Following the transaction, Mason beneficially owns 4,166,667 shares, representing 14.6 per cent of NorthX's issued and outstanding shares. Assuming the exercise of all of the warrants by Mason, Mason will beneficially own an aggregate of 8,333,334 shares, representing 25.5 per cent of NorthX's issued and outstanding shares on a partially diluted basis. Mason has agreed to restrict its exercise of any warrants if doing so would result in Mason owning or controlling more than 19.9 per cent of the then issued and outstanding shares.

The transaction was made by Mason for investment purposes. As a significant shareholder of NorthX, Mason may, depending on market conditions, acquire additional Shares (including through the exercise of the Warrants), or dispose of Shares in the future, whether in transactions over the open market or through privately negotiated arrangements or otherwise, subject to a number of factors, including general market conditions and investment diversification. Mason has no present intention to acquire or dispose of securities of NorthX.

In connection with the subscription of the units, NorthX and Mason entered into an investor rights agreement, pursuant to which, among other things: (i) Mason has the right to designate two nominees for election as directors of NorthX so long as it maintains ownership, directly or indirectly, of at least 10 per cent of the issued and outstanding shares on a non-diluted basis, and one nominee for election as a director of NorthX, so long as it maintains ownership, directly or indirectly, of at least 5 per cent of the issued and outstanding shares on a non-diluted basis; and (ii) Mason has a pro rata preemptive right, so long as Mason holds at least 5 per cent of the issued and outstanding Shares on a non-diluted basis.

An early warning report will be filed with the applicable securities regulatory authority in each jurisdiction where NorthX is a reporting issuer and will be available under NorthX's profile on SEDAR+. The NorthX's head office is located at 1200 Waterfront Centre, 200 Burrard St., Vancouver, B.C., V7X 1T2, Canada. For further information or to obtain copy of the early warning report, please e-mail tmeyer@northxnickel.com or info@masonresourcesinc.com, or call 1-866-899-7247 or 416-844-7365.

About NorthX Nickel Corp.

NorthX is a Canadian Ni-Cu-Co-PGE (nickel-copper-cobalt-platinum-group-elements)-focused exploration and development company with an extensive portfolio of assets in Quebec and Ontario, Canada. The company's flagship asset is the Grasset project, located within the Abitibi greenstone belt, with an indicated mineral resource of 5.5 Mt at 1.53 per cent NiEq (such NiEq grade being established based on: 1.22 per cent Ni, 0.13 per cent Cu, 0.03 per cent Co, 0.26 g/t Pt (platinum) and 0.64 g/t Pd (palladium)). In addition, the company holds a portfolio of 37 properties and over 300 square kilometres in the world-class mining district of Sudbury, Ont.

The company's growth strategy is focused on the exploration and development of its nickel-sulphide properties within its portfolio. NorthX's vision is to be a responsible nickel sulphide developer in stable pro-mining jurisdictions. Northx is committed to socially responsible exploration and development, working safely, ethically and with integrity.

About Mason Resources Inc.

Mason Resources is a Canadian investment corporation focused on the natural-resource sector, seeking to make strategic investments primarily in battery-related metals, precious and base metals, and green technologies.

The company holds a significant ownership in Nouveau Monde Graphite Inc., a graphite development company in Quebec, Canada, with multiyear offtakes from Panasonic Energy Co. Ltd. and General Motors Holdings LLC.

The company also is the largest shareholder of Black Swan Graphene Inc., a pioneer of large-scale production and commercialization of patented high-performance, low-cost graphene products. These innovations target diverse industrial sectors, including concrete, polymers and lithium-ion batteries.

Scientific and technical information in this news release has been reviewed and approved by Jacquelin Gauthier, PGeo, vice-president of exploration for NorthX, and a qualified person for the purpose of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

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