Mr. Martin Turenne reports

FPX NICKEL INCREASES PRIVATE PLACEMENT

As a result of positive investor response to its previously announced private placement offering of 5,818,181 common shares of the company at a price of 55 cents per common share for gross proceeds of $3.2-million (see news release dated Oct. 7, 2020), FPX Nickel Corp. has decided to increase the size of the offering up to a maximum of 7,272,727 common shares at the issue price, for aggregate gross proceeds of up to $4-million.

The proceeds raised from the offering will be used for the advancement of the company's flagship Decar nickel district in central British Columbia, including drilling at the Baptiste deposit, a maiden drilling program at the Van target, metallurgical and market testing of nickel products for the stainless steel and electric vehicle battery markets, and for general working capital purposes.

All the securities issued pursuant to the offering will be subject to a four-month hold period. The offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including acceptance by the TSX Venture Exchange.

About FPX Nickel Corp.

FPX Nickel is focused on the exploration and development of the Decar nickel district, located in central British Columbia, and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite.

We seek Safe Harbor.