Ms. Shirley Anthony reports

CANICKEL SEEKS MINORITY SHAREHOLDER APPROVAL FOR DELISTING FROM TSX VENTURE EXCHANGE AT UPCOMING ANNUAL GENERAL AND SPECIAL MEETING; ANNOUNCES APPOINTMENT OF NEW CFO

Further to its press release on April 28, 2025, Canickel Mining Ltd. will hold an annual general and special meeting (AGSM) on June 11, 2025, for the following purposes:

• To receive and consider the audited financial statements of the company for its financial year ended Dec. 31, 2024, the report of the auditor thereon and the related management discussion and analysis;
• To elect directors of the company for the ensuing year;
• To appoint Baker Tilly WM LLP as the auditor of the company for the ensuing year;
• To consider and, if deemed appropriate, pass an ordinary resolution approved by a majority of the minority shareholders of the company authorizing the delisting of the company's common shares from the TSX Venture Exchange as described in the management information circular that is being mailed to all shareholders as of the record date of May 2, 2025.

With respect to the last item, under TSX-V policies, delisting of a listed company when the company does not have an alternative public market requires majority of minority approval, meaning that directors, officers, promoters and shareholders holding 10 per cent or more of the common shares, and their associates and affiliates (non-arm's-length parties; as defined in TSX-V Policy 1.1) may not vote. Accordingly, none of the company's directors, officers or promoters, and/or their associates and affiliates will be permitted to vote on the resolution to confirm and approve of the company's delisting from the TSX-V. In addition, both King Place Enterprises Ltd., which holds 11,517,653 shares of the company, as well as its affiliate company, Hebei Wenfeng Industrial Group, which holds 2,587,500 shares, will be excluded from voting on the resolution to confirm and approve the company's delisting from the TSX-V. The total number of shares that will be excluded from the delisting vote is 14,105,153, representing 37.6 per cent of the total number of shares outstanding.

Delisting of the company's shares is conditional upon shareholder approval at the AGSM and final approval of the TSX-V. Additional information regarding the delisting will be disseminated in due course, including the effective date of the delisting.

New chief financial officer appointment

The Company has appointed James Dai as its new chief financial officer, effectively immediately. Mr. Dai has been a seasoned corporate financial adviser for several private companies since 2015. Previously, he served as director of DXI Capital from March, 2015, to August, 2017, and as director of Canickel from June, 2013, to June, 2016. Mr. Dai also served as chief financial officer and corporate secretary for Canickel from December, 2014, to June, 2016.

Mr. Dai succeeds Jerry Zhang, who has served in the capacity of chief financial officer and corporate secretary since August, 2016. The company would like to thank Mr. Zhang for his contributions to the company and wish him continued success in his future endeavours.

Shirley Anthony, chief executive officer of Canickel, will assume the additional responsibilities of corporate secretary, effective immediately.

About Canickel Mining Ltd.

Canickel Mining is a Canadian junior mining company that currently owns the Bucko Lake mine, currently on care and maintenance, near Wabowden, Man. From 2009 to 2012, nearly 450,000 tonnes of mineralized material were mined to produce 6.9 million pounds of nickel before the mine was put on care and maintenance due to low nickel prices.