Mr. Grant Mourre reports

SPC NICKEL ANNOUNCES REPRICING OF PRIVATE PLACEMENT

SPC Nickel Corp. has amended the terms of its non-brokered private placement previously announced on March 6, 2026. The company intends to issue up to 27.65 million common share units for gross proceeds of $1,382,500 and up to 49.15 million charity flow-through (CFT) units for further gross proceeds of $3,587,950. Each common share unit will be issued at a revised price of five cents per common share unit and each CFT Unit will be issued at a revised price of 7.3 cents per CFT unit.

Each common share unit shall consist of one common share and one-half of a purchase warrant of the company to acquire one common share at a revised exercise price of 15 cents per share exercisable for a period of 20 months from the closing date.

Each CFT unit shall consist of one charity flow-through common share and one half of a purchase warrant of the company to acquire one non-flow-through common share at a revised exercise price of 15 cents per share exercisable for a period of 20 months from the closing date.

The company may pay to eligible finders assisting in the offering: (i) a cash commission equal to 6 per cent of the gross proceeds raised by such finders; and (ii) such number of compensation warrants as is equal to 6 per cent of the total number of common share units and/or CFT units sold by such finders. Each compensation warrant shall be exercisable to acquire one common share at a revised exercise price of 15 cents per common share for a period of 20 months following the date of issuance.

The gross proceeds of the CFT units will be used to incur expenses that are eligible Canadian exploration expenses, which will also qualify as flow-through critical mineral mining expenditures within the meaning of Section 127(9) of the Income Tax Act (Canada). In addition, the exploration will target critical minerals and will qualify for the 30-per-cent critical minerals exploration tax credit under the Income Tax Act (Canada). Proceeds from the common share units issued in connection with the offering will be used for general working capital purposes.

The securities issued in connection with the offering will be subject to certain resale restrictions, including a four-month restriction following the issuance date, pursuant to applicable Canadian securities legislation. The offering remains subject to the approval of the TSX Venture Exchange.

About SPC Nickel Corp.

SPC Nickel is a Canadian public corporation focused on exploring for high-grade polymetallic copper/nickel/platinum group metal mineralization in Nunavut and within the world-class Sudbury mining camp. SPC Nickel is currently exploring its unique district-scale polymetallic Muskox project in Nunavut, where the team recently completed its 2025 summer field program. The company is also advancing its 100-per-cent-owned Lockerby East exploration project, located in the heart of the historic Sudbury mining camp, which includes the West Graham resource and the LKE resource. SPC Nickel is committed to advancing high-potential polymetallic projects in Tier 1 jurisdictions across Canada with an emphasis on Nunavut and Sudbury.

We seek Safe Harbor.