Mr. Brett Richards reports

NICKEL 28 ANNOUNCES RAMU NICKEL-COBALT MINE RETURNS TO FULL PRODUCTION CAPACITY

Nickel 28 Capital Corp. has successfully resumed full production levels at the Ramu nickel-cobalt mine's Basamuk HPAL (high-pressure acid leach) plant.

On Dec. 18, 2024, the company announced a short-term reduction in production due to a mechanical failure of one of the two blowers in the acid plant at Ramu's HPAL plant. The mechanical repair and replacement of the fan blower have now been completed, and Ramu has returned to full production capacity.

At this time, the company is still guiding for annual production levels at Ramu of approximately 32,000 million tonnes of contained nickel and 2,900 million tonnes of contained cobalt in calendar 2025.

About Nickel 28 Capital Corp.

Nickel 28 Capital 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 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 and exploration projects in Canada, Australia and Papua New Guinea.

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