Mr. Paul Davis reports

EV NICKEL - 2025 SURFACE SAMPLING PROGRAM IDENTIFIES 0.64% NICKEL FROM GEMINI NORTH AREA

EV Nickel Inc. has released assay results from 109 surface samples from the Gemini North zone confirming the surface expression of large-scale nickel mineralization, including two higher-grade samples from the westernmost outcrop exposures that assayed 0.64 per cent nickel and 0.51 per cent nickel. The surface sampling program was focused on the Gemini North zone, representing one of five additional large-scale targets identified on the company's Shaw Dome project, located approximately two kilometres from its flagship Carlang A deposit.

Surface sampling was concentrated over outcrop exposures located on the western portion of the interpreted ultramafic body, approximately 500 metres west of the previously announced Gemini North nickel sulphide zone identified in diamond drilling programs completed in 2024 and 2025 (see press releases dated Nov. 12, 2024, March 19, 2025, and May 26, 2025). Of the 109 samples submitted for analysis, 86 of the samples were from the targeted peridotites and dunites ranging from 0.15 per cent nickel to 0.64 per cent nickel, where 73 per cent of the assay samples graded above 0.24 per cent nickel. Two samples taken on the western edge of the ultramafic body returned values of over 0.5 per cent nickel, indicating a significant enrichment of nickel, and are highly encouraging when compared with the Carlang A deposit that contains in accordance with National Instrument 43-101, a combined resource of 1.1 billion tonnes at 0.24 per cent nickel consisting of an indicated resource of 500 million tonnes at 0.25 per cent nickel and an inferred resource of 500 million tonnes at 0.23 per cent nickel (see press release dated Feb. 28, 2023, and/or SEDAR+ filing dated April 12, 2023).

"It is extremely exciting to have two values over 0.5 per cent nickel exposed at surface on the Gemini North zone and represent the best surface nickel grades observed along the Carlang trend to date. The impact of the higher nickel contents on these large-scale deposits is that, with each increase of 0.01 per cent nickel above 0.24 per cent nickel, it increases the contained in situ nickel pounds by approximately 4 per cent relative to the Carlang A resource grade," said Paul Davis, vice-president, exploration. "Being able to observe these results at surface, without significant overburden cover, is a major advantage for this area in terms of exploration and development. Carlang A was the first deposit brought to a mineral resource within the area and it is expected that the Carlang trend hosts a number of similar or better targets, where the Gemini North zone represents the first of these targets to be expanded and explored."

As part of the continuing exploration program on the Shaw Dome project, the company is currently completing the next phase of drilling on the Gemini North zone and has a continuing metallurgical program designed to test the potential recovery characteristics of the nickel sulphide mineralization associated with the Gemini North zone. The company is also continuing to determine the amenability of the bioleaching process to treat the sulphide concentrates. It is anticipated that the company will complete a preliminary mineral resource estimate on the Gemini North zone once all data have been received and analyzed.

The company is also pleased to announce the overwhelming support of the warrantholders of the company in exercising their warrants issued in 2023. Since July of this year, a total of 32,865,356 2023 warrants were exercised for the same number of common shares, raising $2,957,882 and representing 99 per cent of the company's remaining 2023 warrants. The funds received will be retained as cash buffer and used for general corporate purposes. Together with current cash on hand, funds received by the warrant exercise as hard dollars would provide the company with well in excess 48 months of financed operations at current overhead rates.

Assay quality assurance/quality control

Surface samples from EV Nickel's sampling program on the Carlang trend at the Shaw Dome project are sampled and bagged in the field and reviewed at the core logging facility located near the Shaw Dome project. Samples are transported to ALS Canada Ltd. for analysis. Samples, along with certified standards and blanks, which are included by the company for quality assurance and quality control, were prepared and analyzed at the laboratories. At ALS, samples are crushed to 70 per cent less than two millimetres. A riffle split is pulverized to 85 per cent passing 75 microns. Nickel, copper, cobalt and sulphur are analyzed by sodium peroxide fusion with an ICP finish and platinum, palladium and gold are analyzed by fire assay and ICP-AES finish. At SGS, samples are crushed to 75 per cent less than two millimetres. A riffle split is pulverized to 85 per cent passing 75 microns. Nickel, copper and cobalt are analyzed by sodium peroxide fusion with an ICP-AES finish, platinum, palladium and gold are analyzed by fire assay and ICP-AES finish, whole-rock analysis for 13 oxides by ICP-AES finish and sulphur by Leco. These and future assay results may vary from time to time due to reanalysis for quality assurance and quality control.

About EV Nickel Inc.

EV Nickel's mission is to provide the world with clean nickel from Tier 1 jurisdictions. The company's projects are located within 30 kilometres of Timmins, a developing hub of clean critical minerals for the North American battery and stainless steel markets and an important emerging critical mineral district for the North American efforts to bring onshore the full vertical integration of electric batteries and vehicles.

EV Nickel aims to play an integral part of the North American onshoring initiative as the company's clean, low-carbon deposits can be an important source of supply to support the Inflation Reduction Act (IRA) and Ontario and federal policies and initiatives that strive to bring clean critical mineral production from Canada into the North American supply chain and globally.

In further support of this initiative, the company has and will continue to partner with environmentally responsible and ethical organizations from around the province and around the world to assist in developing these essential critical minerals. EV Nickel is also eager to collaborate with all stakeholders and leading sustainable engineering, mining, automotive and battery companies to provide this key input to support global decarbonization initiatives. The governments of Ontario and Canada are also providing significant legislative, policy and financial support to help ensure that the Timmins region becomes a leading participant in the developing North American supply chain for the clean-energy transition.

Qualified person

The company's projects are under the direct technical supervision of Paul Davis, PGeo, and vice-president of the company. Mr. Davis is a qualified person as defined by NI 43-101. He has reviewed and approved the technical information in this press release. There are no known factors that could materially affect the reliability of the information verified by Mr. Davis.

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