Mr. Brad Humphrey reports

NICAN TRIPLES ITS LAND POSITION AT PIPY SOUTH PROPERTY IN THOMPSON MANITOBA

Nican Ltd. has significantly increased its land position at the Pipy South project in Thompson, Man., following Nican's recent near-surface gold discovery (see press releases dated Feb. 9, 2026, and Feb. 18, 2026).

Nican has added 13 adjacent claims covering an area of approximately 30.5 square kilometres bringing the total Pipy South land package to 45.75 square kilometres.

Brad Humphrey, president and chief executive officer of Nican, commented: "As a result of Nican's recent successes at the Pipy South project, we have significantly expanded our land position within the Thompson area. This enables the company to expand its exploration efforts looking for gold and nickel deposits. The new gold discovery along with gold prices touching all-time highs adds compelling value to the company's exploration portfolio. Nican remains active at Pipy South with a geophysical program under way and is preparing for immediate follow-up diamond drilling to advance and further define this emerging gold system."

The newly acquired claims cover a large interpreted anticlinal structure that is 10.0 km long and 3.0 km wide that displays multiple magnetic horizons caused by inferred iron formations. The new gold discovery at Pipy South is largely hosted by a lean iron formation that exhibits subtle magnetic anomalies. Only limited drilling has been completed in this area over the past 50 years, with all historical exploration efforts geared toward nickel.

Access to the expanded property is by provincial Road 280 that passes through the centre of the land position. Extensive infrastructure is available in Thompson located 10 km to the south.

Beyond the immediate follow-up drilling program, Nican also intends to carry out a summer exploration program designed to identify additional silicified, mineralized gold zones.

The newly acquired claims also hold significant potential to host nickel deposits as the requisite Pipe formation, which hosts all significant nickel mineralization in the Thompson area, underlies the property.

Pipy project overview

The Pipy South project is included in an exploration agreement with Nisichawayasihk Cree Nation (NCN).

The Pipy properties consist of two project areas, Pipy South and Pipy North, totalling 57.0 square km in the well-established Thompson nickel belt. Initial exploration activities will focus on the Pipy South project, which is adjacent to the Mystery Lake South area, located approximately 10 to 20 km northeast of the city of Thompson and Vale's Thompson nickel mine, with excellent road access and local infrastructure.

Qualified person

Stanley Clemmer, PGeo, an independent consultant to Nican, who is a qualified person under National Instrument 43-101 -- Standards of Disclosure of Mineral Projects has reviewed and approved the scientific and technical information in this press release.

About Nican Ltd.

Nican is a mineral exploration company, trading under the symbols NICN on the TSX-V, NILTF on the OTCQB and W8Y on the FRA. The company is actively exploring two projects, the high-grade nickel-copper Wine project and highly prospective Pipy project, both located in well-established mining jurisdictions in Manitoba, Canada.

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