Mr. Martin Turenne reports

FPX NICKEL ANNOUNCES FURTHER INCREASE IN PRIVATE PLACEMENT TO $4.93 MILLION

As a result of positive investor response to FPX Nickel Corp.'s previously announced private placement offering of common shares of the company at a price of 55 cents per common share for gross proceeds of $4-million (see news releases dated Oct. 7, 2020, and Oct. 8, 2020), the company has decided to further increase the size of the offering to a maximum of 8,963,636 common shares at the issue price for aggregate gross proceeds of $4.93-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 and 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 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.