Mr. Mark Selby reports

CANADA NICKEL ANNOUNCES UPSIZE OF NON-BROKERED PRIVATE PLACEMENT TO GROSS PROCEEDS OF UP TO C$21.0 MILLION

Canada Nickel Company Inc., as a result of strong investor demand, has increased the size of its previously announced non-brokered private placement from gross proceeds of $15-million to gross proceeds of up to $21-million. The upsized offering will consist of up to 14 million units of the company to be issued at a price of $1.50 per unit.

Each unit will consist of one common share of the company and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share of the company at a price of $2.25 at any time for a period of 36 months following the issue date.

The units are being offered to purchasers outside of Canada pursuant to an exemption from the prospectus requirements in Canada available under Ontario Securities Commission Rule 72-503, Distributions Outside Canada, and, accordingly, the securities to be issued pursuant to the offering to purchasers outside of Canada are not expected to be subject to a four-month hold period in Canada.

The company plans to use the net proceeds of the offering to support permitting and engineering activities for the advancement of the company's projects, repayment of outstanding indebtedness, and working capital and general corporate purposes.

The offering is scheduled to close on or around Aug. 28, 2026, and is subject to certain customary conditions, including the execution of definitive documentation, and the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

About Canada Nickel Company Inc.

Canada Nickel Company 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 nickel district.

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