Mr. Johan Lambrechts reports

QUEBEC NICKEL CORP. COMPLETES ACQUISITION OF THE ECRU PROJECT, NEVADA

Quebec Nickel Corp. has closed its previously announced (see Feb. 27, 2026, news release) acquisition of the 100-per-cent interest in the Ecru property, located on the Cortez/Battle Mountain trend in Nevada, from Orogen Royalties Inc. The closing is effective April 10, 2026.

The Ecru property consists of 112 mining claims and is situated north of the Pipeline-Cortez-Goldrush-Robertson deposit cluster, one of Nevada's most prolific gold districts. In addition to the property acquisition, the company and Orogen, through their respective subsidiaries: (i) completed the transfer of a sublease agreement relating to all rights in certain additional real property held by Nevada Gold Mines LLC; and (ii) executed a royalty agreement that contemplates the grant of a 2.0-per-cent net smelter return royalty on the Ecru property.

The acquisition of the Ecru property represents Quebec Nickel's entry into one of the world's premier gold mining districts, allowing the company to leverage its technical and corporate expertise to create value by exploring and advancing this exciting project. The company intends to advance the Ecru property through systematic technical review and disciplined exploration planning, including the preparation of a National Instrument 43-101-compliant technical report to support future evaluation and strategic decision-making.

Closing transactions

At closing, the company: (i) completed the payment to Orogen of the closing cash consideration of $250,000 ($25,000 of which was previously paid to Orogen and credited against the closing payment); and (ii) issued to Orogen one million common shares of the company, at the issue price of 16.5 cents per share, representing the permitted discount to the closing price of the company's common shares on Feb. 26, 2026 (the date on which the parties entered into the definitive agreement). The one million common shares are subject to a restriction on resale for a period of four months and one day expiring on Aug. 11, 2026.

Pursuant to the definitive agreement, within six months of closing, the company must also complete the issuance to Orogen of $125,000 of common shares at an issue price per share equal to the 10-day volume weighted average price (VWAP) of the common shares of the company on the Canadian Securities Exchange at the date of the issue.

Ecru property overview

The Ecru property is located within the Cortez gold camp, one of Nevada's most prolific gold-producing regions, and lies directly northeast and adjacent to Nevada Gold Mines' Robertson deposit. The property is positioned along major regional structural corridors, including the Cortez fault system and the Battle Mountain-Eureka trend, both of which are associated with significant gold endowment in the district.

Previous exploration activities include geophysical surveys, geochemical data sets and minor drilling, which identified multiple untested targets. These targets include a potential shallow intrusive-related target with similarities to the Robertson deposit and possible lower plate carbonate host rocks at depth. Both styles of mineralization are recognized within the Cortez district. The Ecru property is considered to have high potential to host Robertson-style intrusive-related gold mineralization and/or Carlin-type mineralization, subject to further evaluation.

Proposed name change to Aurbis Resources Corp.

Now that the company has completed the Ecru property acquisition, it intends to proceed with the proposed name change to Aurbis Resources. The company will provide further updates once it receives final approval for the proposed name change.

About Orogen Royalties Inc.

Orogen Royalties is focused on organic royalty creation and royalty acquisitions on precious and base metal discoveries in Western North America. The company's royalty portfolio includes the Ermitano gold and silver mine in Sonora, Mexico (2.0-per-cent net smelter return (NSR) royalty), operated by First Majestic Silver Corp. The company is well financed with several projects actively being developed by joint venture partners.

About Quebec Nickel Corp.

Quebec Nickel Corp. is a mineral exploration company focused on acquiring, exploring and developing critical metals projects.

Qualified person (QP)

Johan Lambrechts is the company's qualified person as defined by NI 43-101, and has reviewed the scientific and technical information that forms the basis for portions of this news release. He has approved the disclosure herein. Mr. Lambrechts is not independent of the company, as he is the chief executive officer and a director of the company.

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