Mr. Terry Lynch reports

POWER NICKEL COMMENCES FALL DRILL PROGRAM WITH DEEP TARGET HOLE 23-H2-01

Power Nickel Inc. has commenced its fall drilling program with the drilling of the deep target hole PN-23-036.

The hole is testing at depth an area to the east of two of the best holes, PN-22-009 and PN-23-035.

PN-23-036 is approximately 300 metres south and east of holes PN-22-009 and PN-23-035 holes. The company would anticipate hitting the massive sulphide body at a vertical depth of 390 metres. This will be the first in a series of deeper holes testing some of the best previous holes where they were open at depth.

This drill program will test a series of airborne EM (electromagnetic) targets hosted by the ultramafic body. The areas targeted by the currently planned drilling is also further corroborated by the ambient noise tomograpy (ANT) surveys being completed by contractor Fleet Space Technologies. In addition, downhole EM will complement the ANT and the continuing target generation for massive sulphide zones hosted by the ultramafic body.

The plan is for a second drill to be mobilized in late September to drill several holes to follow up the results from drill hole 23-031A in the Wildcat area, approximately four kilometres (km) northeast of the main Nisk zone. This drill hole intersected 20.76 grams of platinum, 5.71 grams of palladium, 1.47 per cent of copper and 0.28 gram of gold over 7.75 metres at a downhole depth of 60 metres.

Qualified person

Kenneth Williamson, Geo, MSc, vice-president, exploration, at Power Nickel, is the qualified person who has reviewed and approved the technical disclosure contained in this news release.

About Power Nickel Inc.

Power Nickel is a Canadian junior exploration company focusing on developing the high-grade Nisk project into Canada's first carbon-neutral nickel mine.

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