Mr. Brett Richards reports

NICKEL 28 PROVIDES CORPORATE UPDATE

Nickel 28 Capital Corp. has granted stock options of the company.

Grant of stock options

The company has granted an aggregate of 810,811 stock options to purchase common shares of the company to Craig Lennon under the company's fixed stock option plan in connection with Mr. Lennon's long-term incentive compensation for the forthcoming financial year ended Jan. 31, 2027. These stock options are exercisable at a price of $1.01 per common share for a period of five years. If earned, the stock options will vest rateably over three years with the first anniversary date set for Feb. 1, 2027. The stock options will only be earned if the following total shareholder return (TSR) performance criteria are met using a starting price of $1.09 per common share and running until the close of the market on Jan. 31, 2027: (i) 25 per cent of the stock options will be earned if the TSR over this period is 20 per cent or greater; (ii) a further 25 per cent of the stock options will be earned if TSR over this period is 40 per cent or greater; (iii) a further 25 per cent of the stock options will be earned if TSR over this period is 60 per cent or greater; and (iv) a further 25 per cent of the stock options will be earned if TSR over this period is 80 per cent or greater.

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 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 and exploration projects in Canada, Australia and Papua New Guinea.

We seek Safe Harbor.