Mr. Mark Selby reports

CANADA NICKEL COMPLETES UPSIZED NON-BROKERED PRIVATE PLACEMENT OF FLOW-THROUGH SHARES AND PROVIDES CORPORATE UPDATE

Canada Nickel Company Inc. has completed its previously announced non-brokered private placement offering, which was upsized due to strong investor demand to consist of three million common shares of the company that will qualify as flow-through shares (as defined in Subsection 66(15) of the Income Tax Act (Canada)), at a price of $2.07 (Canadian) per flow-through share for aggregate gross proceeds to the company of $6.21-million (Canadian).

The gross proceeds from the offering will be used by the company to incur (or be deemed to incur) eligible resource exploration expenses that will qualify as: (i) Canadian exploration expenses (as defined in the tax act); (ii) either (a) flow-through critical mineral mining expenditures (as defined in Subsection 127(9) of the tax act) (which expenditures shall comprise at least 90.34 per cent of such gross proceeds) or (b) flow-through mining expenditures (as defined in Subsection 127(9) of the tax act) (which expenditures shall comprise at most 9.66 per cent of such gross proceeds); and (iii) either (a) eligible Ontario critical mineral exploration expenditures within the meaning of Subsection 103(4.1) of the Taxation Act 2007 (Ontario) or (b) eligible Ontario exploration expenditures within the meaning of Subsection 103(4) of the Taxation Act 2007 (Ontario). Qualifying expenditures in an aggregate amount not less than the gross proceeds raised from the issue of the flow-through shares will be incurred (or deemed to be incurred) by the company on or before Dec. 31, 2027, and will be renounced by the company to the initial purchasers of the flow-through shares with an effective date no later than Dec. 31, 2026.

The flow-through shares are subject to a hold period expiring four months and one day from the issue date in accordance with applicable Canadian securities laws.

The offering is subject to the final approval of the TSX Venture Exchange.

Auramet loan facility update

In connection with the previously announced extension of the maturity date of the company's $32-million (U.S.) loan facility with Auramet International Inc., the company wishes to clarify that the interest rate under the facility has been amended to 15 per cent per annum.

About Canada Nickel Company Inc.

Canada Nickel is advancing the next generation of nickel sulphide projects to deliver nickel required to feed the high growth electric vehicle and stainless steel markets. Canada Nickel Company has applied in multiple jurisdictions to trademark the terms NetZero Nickel, NetZero Cobalt and NetZero Iron, and is pursuing the development of processes to allow the production of net zero carbon nickel, cobalt and iron products. Canada Nickel provides investors with leverage to nickel in low-political-risk jurisdictions. Canada Nickel is currently anchored by its 100-per-cent-owned flagship Crawford nickel-cobalt sulphide project in the heart of the prolific Timmins-Cochrane nickel district.

We seek Safe Harbor.