Mr. David Fitch reports

CLASS 1 NICKEL ANNOUNCES OPTION CANCELLATION

Class 1 Nickel and Technologies Ltd. has cancelled an aggregate of 11,765,502 stock options of the company. Of these stock options cancelled, an aggregate of 11,165,502 stock options were exercisable to acquire common shares of the company at an exercise price of 60 cents until June 11, 2024, and the balance of 600,000 stock options was exercisable at an exercise price of 50 cents until Aug. 11, 2025.

About Class 1 Nickel and Technologies Ltd.

Class 1 Nickel (Canadian Securities Exchange: NICO and OTCQB: NICLF) is a mineral resource company focused on the development of its 100-per-cent-owned Alexo-Dundonald property, a portfolio of komatiite-hosted magmatic nickel-copper-cobalt sulphide mineral resources located near Timmins, Ont. The company also owns the Somanike komatiite-hosted nickel-copper sulphide property in Quebec, which includes the famous Marbridge nickel mine.