Mr. Justin Cochrane reports

RAMU BACK TO FULL PRODUCTION LEVELS FOLLOWING EARTHQUAKE

Nickel 28 Capital Corp. has successfully resumed full production levels at the Ramu mine's Basumuk HPAL plant following the earthquake on Oct. 7, referred to in the company's press release of Oct. 10, 2023.

The earthquake, which had a magnitude of 6.7, triggered immediate safety protocols and a comprehensive evaluation of the site's infrastructure. While the event disrupted operations temporarily, MCC's commitment to safety, environmental responsibility and operational excellence guided the recovery process. The company is pleased to report that there were no injuries or significant environmental impacts associated with the earthquake or MCC's subsequent response efforts.

At this time, the company is not anticipating any material impact on production and is still guiding for annual production levels at Ramu of approximately 33,000 million tonnes (Mt) of contained nickel and 2,900 Mt of contained cobalt in calendar 2023.

About Nickel 28 Capital Corp.

Nickel 28 is a nickel-cobalt producer through its 8.56-per-cent joint venture interest in the producing, long-life and world-class Ramu nickel-cobalt operation located in Papua New Guinea. Ramu provides Nickel 28 with significant attributable nickel and cobalt production thereby offering the company's shareholders direct exposure to two metals which are critical to the adoption of electric vehicles. In addition, Nickel 28 manages a portfolio of 10 nickel and cobalt royalties on development, prefeasibility and exploration projects in Canada, Australia and Papua New Guinea.

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