Vancouver, British Columbia--(Newsfile Corp. - January 16, 2026) - Québec Nickel Corp. (CSE: QNI) (FSE: 7lB) (OTCQB: QNICF) ("QNI" or the "Company") announces that it has closed its previously announced non-brokered private placement (the "Offering") for aggregate gross proceeds of $500,000.

The Offering was initially announced on December 17, 2025 and subsequently reported as fully allocated on December 29, 2025.

Pursuant to the Offering, the Company issued 4,000,000 units (the "Units") at a price of $0.125 per Unit. Each Unit consists of one common share of the Company and one-half of one common share purchase warrant. Each whole warrant is exercisable to acquire one additional common share of the Company at an exercise price of $0.225 per share for a period of two years from the date of issuance.

The Units were issued pursuant to applicable prospectus exemptions, including the family, friends and business associates exemption, the accredited investor exemption, the existing security holder exemption under British Columbia Instrument 45-534, and equivalent exemptions under applicable Canadian securities laws.

In connection with the Offering, the Company paid aggregate cash finder's fees of $4590.00 in accordance with the policies of the Canadian Securities Exchange and applicable securities legislation. No securities were issued as finder's compensation.

The net proceeds from the Offering will be used for general working capital purposes, including advancing the Company's exploration activities and evaluating strategic opportunities.

All securities issued in connection with the Offering are subject to a statutory hold period under applicable Canadian securities laws, expiring four months and one day from the date of issuance. The Offering remains subject to final acceptance of the Canadian Securities Exchange.

About Québec Nickel Corp.

Québec Nickel Corp. is a mineral exploration company focused on acquiring, exploring, and developing critical metals (Au-Ni-Cu-Co-PGE) projects in North America. Additional information about Québec Nickel Corp. is available at www.quebecnickel.com.

The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

On behalf of the Board of Directors

CAUTIONARY AND FORWARD-LOOKING STATEMENTS

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this news release, other than statements of historical facts that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in the forward-looking statements. Factors that could cause the results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market, or business conditions. Investors are cautioned that such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates, opinions, or other factors should change.

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