File: '\\swfile\EmailIn\20260119 105439 Attachment 2026-01-15 NNX- News Release - Grant of Options.docx'

tonyguo@nnexploration.com www.nnexploration.com

1188 West Georgia St. Suite 1488 Vancouver BC V6E 4A2

AC/14290231.1

January 19, 2026

Trading Symbol: "NNX: TSX.V"

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

NEWS RELEASE

NICKEL NORTH ANNOUNCES GRANT OF OPTIONS

Nickel North Exploration Corp. (the "Company") announces that, pursuant to its Stock Option Plan (2025), that it has granted a total of 8,600,000 stock options (the "Options") to directors, officers, employees, and consultants of the Company. Of all of the Options granted, 8,100,000 of them vested immediately and will expire five (5) years from the date of grant and 500,000 of the Options, granted to investor relations consultant, will vest 25% every three (3) months over a period of twelve (12) months.

About Nickel North Exploration

Nickel North Exploration is a Canada-based exploration company focused on defining a Cu-Ni-Co-PGE mineral resource at its Hawk Ridge Project in Northern Quebec. The board of directors, advisor committee and management team are experienced, successful mine finders. The property consists of a 50 km long belt of strong magmatic Cu-Ni-Co-PGE occurrences covering 179.67 km2. Quebec is a mining-friendly jurisdiction. Nickel North Exploration is a conscientious corporate citizen maintains good relations with local Inuit communities and is committed to sustainable development. For more information on the company, please visit www.nnexploration.com or follow Company on Twitter at https://twitter.com/nickelnorth.

Nickel North Exploration Corp. has been identified as a key player in the Critical and Strategic Minerals value chain by Quebec's Ministry of Economics and Innovation (MEI) in 2021 (Quebec Plan for the Development of Critical and Strategic Minerals 2020-2025 (quebec.ca), which is part of Quebec's Plan for the Development of Critical and Strategic Metals (QPDCSM) and aims to stimulate the exploration and mining of SCMs, their transformation and recycling.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Per: "Tony Guo"

Tony Guo

Nickel North Exploration Inc.

Tony Guo. P. Geo, Chief Executive Officer

(Tel: +1-778-877-5480)

E-mail: tonyguo@nnexploration.com

For further information please visit http://www.nnexploration.com

This news release may contain forward-looking information, which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward- looking information in this news release may include, but is not limited to, the Company's objectives, goals or future plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames, or at all. The Company disclaims any intention or obligation to update or revise any forward looking information, whether as a result of new information, future events or otherwise, other than as required by law. Neither TSX Venture exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.