Mr. Duncan Roy reports

POWER NICKEL CLARIFIES PRESS RELEASE DATED APRIL 15TH

As a result of a review by the British Columbia Securities Commission, Power Nickel Inc. is issuing the following news release to clarify its disclosure.

The company is clarifying its April 15, 2024, news release. The release contained a table that used the company's assays to produce metal equivalent grades in gold, copper, palladium and platinum without considering recoveries or other factors that are considered potentially misleading.

Additionally, a quote from Power Nickel chief executive officer Terry Lynch in the release provided an in situ rock value. This rock value is unsupported by a mineral resource estimate and an economic analysis. Power Nickel retracts this statement from the release and investors should not rely on it.

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.

The Nisk property comprises a significant land position (20 kilometres of strike length) with numerous high-grade intercepts. Power Nickel is focused on expanding the historical high-grade nickel-copper platinum group element mineralization with a series of drill programs designed to test the initial Nisk discovery zone and to explore the land package for adjacent potential nickel deposits.

In addition to the Nisk project, Power Nickel owns significant land packages in British Columbia and Chile.

We seek Safe Harbor.