Mr. Craig Lennon reports

NICKEL 28 ROYALTY PORTFOLIO UPDATE

Nickel 28 Capital Corp. has provided an update on projects within its royalty portfolio.

Nickel 28 chief executive officer Craig Lennon commented: "Over the past 12 months, a number of countries, led by the United States, China, India and other BRICS nations, as well as several members of the European Union, have introduced significant changes to trade and foreign policy. Many of these initiatives reflect a growing protectionist approach to the development and control of rare earth element (REE) and critical mineral projects.

"Several projects within Nickel 28's royalty portfolio contain REEs and other critical minerals that are essential to clean power generation and advanced technology applications. Scandium is among these key materials, with important uses in aerospace alloys, advanced defence systems and clean energy fuel cells. Nickel 28 holds royalties on two scandium-bearing projects located near Sunrise Energy Metals' Syerston scandium project in Australia. Sunrise recently announced that it had granted Lockheed Martin an option to purchase up to 15 tonnes of scandium oxide over a five-year period, underscoring scandium's increasing strategic importance.

"Cobalt also continues to be recognized as a strategic critical mineral in the global transition to clean energy. Over the past six months, cobalt prices have strengthened, supported by rising demand and tightening supply following production and export restrictions in the Democratic Republic of the Congo (DRC), which accounts for approximately 80 per cent of global cobalt output. These market developments contribute to a constructive short-to-medium-term outlook for cobalt. Nickel 28 is well positioned to benefit through its significant exposure to cobalt via the Ramu nickel project and multiple royalties within its portfolio," Mr. Lennon added.

Project developments

Dumont Nickel welcomed the visit of the Premier of Quebec, Francois Legault, as part of his new role as minister responsible for the Abitibi-Temiscamingue region. He was accompanied by Jean-Francois Simard, the new Minister of Natural Resources and Forests, and Suzanne Blais, member of the National Assembly for the Abitibi-Ouest riding. During this visit, Mr. Legault reiterated his encouragement to continue the technical, financial and regulatory steps leading up to a final investment decision. Hydro-Quebec has already confirmed by letter the reservation of a power block for the project and continuing discussions aim to finalize an agreement this fall.

The European Commission selected the project as part of 13 critical minerals projects in third countries to support. The selected strategic projects will benefit from co-ordinated support by the commission, member states and financial institutions in the form of facilitating access to finance and contacts with relevant off-takers.

Giga Metals Corp. has closed a non-brokered private placement and will undertake a geophysics program at its flagship Turnagain project in Northern British Columbia. The program will involve a magnetotulleric survey that will map subsurface geological structures adjacent to the known Turnagain nickel-cobalt project.

Australian Mines Ltd. has secured approvals to commence drilling the underexplored target area at Flemington, paving the way for an approximately 1,000-metre drill program at one of the world's highest-grade scandium resources.

Scandium International Mining Corp. recently announced that the Department of Primary Industrials and Regional Development -- NSW Resources granted a mining licence to Scandium International's wholly owned subsidiary for its Nyngan scandium project in New South Wales, Australia. The grant of ML 1893 (Act 1992) represents a major milestone for the Nyngan scandium project and provides the regulatory certainty required for the company to advance continuing dialogues regarding strategic partnerships, offtake contracts, and in due course financing the project and taking the final investment decision.

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 the company's shareholders direct exposure to two metals that 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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