Mr. Tony Guo reports

NICKEL NORTH ANNOUNCES $3 MILLION NON-BROKERED PRIVATE PLACEMENT

Nickel North Exploration Corp. has arranged a non-brokered private placement offering of up to 60 million units at five cents per unit for gross proceeds of up to $3-million. Each unit will comprise one common share and one-half of a warrant. A whole warrant will entitle the holder thereof to purchase one additional common share of the company at eight cents per share for a period of two years following closing of the private placement.

The private placement is subject to regulatory approval. All securities to be issued pursuant to the private placement are subject to a four-month hold period under applicable Canadian securities laws. All funds are denominated in Canadian dollars. A finder's fee commensurate with regulatory policies may be paid if applicable. No more than 10 per cent of the proceeds of any financing will be used for investor relations activities.

Proceeds from the private placement will be used for field exploration programs on the Hawk Ridge nickel/copper/platinum group element/cobalt project, general working capital and potential acquisitions of new assets.

An insider has participated in the private placement. This constitutes a related party transaction as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company intends to rely on exemptions from the formal validation and minority approval requirements of sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of such insider participation based on a determination that the fair market value of the participation in the offering by the insider does not exceed 25 per cent of the market capitalization of the company, as determined in accordance with MI 61-101.

This private placement is subject to customary closing conditions and approvals of applicable securities regulatory authorities, including the TSX Venture Exchange.

About Nickel North Exploration Corp.

Nickel North Exploration is a Canada-based exploration company focused on defining a copper/nickel/cobalt/platinum group element mineral resource at its Hawk Ridge project in Northern Quebec. The board of directors, adviser committee and management team are experienced, successful mine finders. The property consists of a 50-kilometre-long belt of strong magmatic copper/nickel/cobalt/platinum group element occurrences covering 179.67 square kilometres. Quebec is a mining-friendly jurisdiction. Nickel North Exploration is a conscientious corporate citizen that maintains good relations with local Inuit communities and is committed to sustainable development. Nickel North Exploration 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), 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 strategic critical minerals and their transformation and recycling.

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