Mr. Grant Mourre reports

SPC NICKEL INTERSECTS ADDITIONAL SHALLOW MINERALIZATION GRADING 1.01% NICKEL AND 0.53% COPPER OVER 17.0 METRES AT WEST GRAHAM PROJECT

SPC Nickel Corp. has released additional assay results from a series of short holes drilled immediately beneath the surface exposure of the West Graham mineralized zone. Results from the program continue to return thick, shallow mineralized intervals at grades equal to or better than the historical West Graham mineral resource.

The recently completed West Graham drill program focused on expanding and confirming the known mineralized zones, with the objective of delivering a new consolidated mineral resource by the end of 2023. The results from the shallow drilling highlight the potential to add near-surface resources which could be amenable to low-cost, bulk mining methods.

Highlights:

• WG-23-063 -- 1.01 per cent nickel and 0.53 per cent copper over 17 metres (12 metres to 29 metres) within a wider zone grading 0.71 per cent Ni and 0.38 per cent Cu over 59 metres (two metres to 59 metres);
• WG-23-068 -- 0.77 per cent Ni and 0.48 per cent Cu over five metres (41 metres to 46 metres) within a wider zone grading 0.42 per cent Ni and 0.33 per cent Cu over 39 metres (23 metres to 62 metres).

Grant Mourre, chief executive officer and president of SPC Nickel, commented: "Today's results continue to demonstrate continuity in both the grade and thickness of the West Graham mineralized zone. Results from West Graham continue to exceed our expectations. Returning grades equal to or better than the historical West Graham mineral resource demonstrates the project's excellent potential. The company remains on track, and we're looking forward to announcing additional drilling results and a maiden mineral resource by the end of 2023."

The West Graham project is located in the heart of the Sudbury mining district, where nine mines are currently in operation and two more are in the development phase. The region benefits from its proximity to well-developed transportation infrastructure, including roads, railways and an electrical grid. In addition, West Graham is situated close to processing, smelting and refining assets, which include two mills, two smelters and one nickel refinery. Local operators include global mining corporations Vale, Glencore and KGHM.

All samples for the remaining 17 drill holes have been submitted to the laboratory for analysis, and results are expected to be released over the coming weeks.

Quality assurance/quality control and qualified person

The technical elements of this news release have been approved by Grant Mourre, PGeo, chief executive officer and president of SPC nickel, a qualified person under National Instrument 43-101.

SPC Nickel follows rigorous sampling and analytical protocols that meet or exceed industry standards. Core samples are stored in a secured area until transport in batches to the ALS facility in Sudbury, Ont., Canada. Sample batches include certified reference materials, blanks and duplicate samples that are then processed under the control of ALS. All samples were analyzed in Vancouver by ALS Chemex. Platinum, palladium and gold values were determined together using standard lead oxide collection fire assay and ICP-AES finish. Base metal values were determined using sodium peroxide fusion and ICP-AES finish. Silver values were determined using an aqua regia digestion and an AAS finish. A certified reference material, standard, blank or duplicate is inserted on every 10th sample in the following order: CRM, blank, CRM, duplicate. The cycle repeats every 40 samples, thus ensuring that 10 per cent of samples submitted are control samples.

About SPC Nickel Corp.

SPC Nickel is a Canadian public corporation focused on exploring for nickel-copper-platinum-group-metals within the world-class Sudbury mining camp. SPC Nickel is currently exploring its key, 100-per-cent-owned exploration project, Lockerby East, located in the heart of the historical Sudbury mining camp, which includes the West Graham resource and the Crean Hill 3 property under option from Vale. SPC Nickel also holds three additional projects across Canada, including the large, camp-scale Muskox project (located in Nunavut), the past-producing Aer-Kidd project (located in the Sudbury mining camp) and the Janes project (located 50 kilometres northwest of Sudbury). The corporate focus is on Sudbury, and SPC Nickel continues to look for new opportunities to add shareholder value.

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