Mr. Sean Samson reports

EV NICKEL COMPLETES CLOSING OF OVERSUBSCRIBED C$2.1M PRIVATE PLACEMENT

EV Nickel Inc. has closed its previously announced non-brokered private placement of 35,000,334 units of the company at a price of six cents per unit for aggregate gross proceeds to the company of $2,100,020.

Pursuant to the offering, the company issued, in aggregate, 35,000,334 units between tranche 1 and tranche 2. Each unit consisted of one common share in the capital of the company and one common share purchase warrant. Each warrant entitles the holder thereof to purchase one common share at an exercise price of nine cents for a period of 24 months.

Securities issued under this offering were issued pursuant to applicable prospectus exemptions under National Instrument 45-106 (Prospectus Exemptions) and are subject to hold periods in accordance with applicable securities laws.

EV Nickel intends to use the net proceeds raised from the offering for the continued exploration and advancement of the company's Shaw Dome project located south of Timmins, Ont., and for general corporate purposes.

In connection with the offering, the company paid finders' fees consisting of $88,761 in cash and 1,479,357 common share purchase warrants. Each broker warrant entitles the holder thereof to purchase one common share at an exercise price of nine cents for a period of 24 months following the closing date. PowerOne Capital Markets Ltd. acted as a finder in connection with the offering.

About EV Nickel Inc.

EV Nickel's mission is to accelerate the transition to clean energy. It is a Canadian nickel exploration company, focused on the Shaw Dome project, south of Timmins, Ont. EV Nickel has over 30,000 hectares to explore across the Shaw Dome and has identified greater than 100 kilometres of additional favourable strike length. The Shaw Dome includes the high-grade W4 deposit -- with a resource which defined 2.0 million tonnes of 0.98 per cent nickel for 43.3 million pounds of Class 1 nickel across measured, indicated and inferred categories, and the large-scale CarLang area with more than 10 kilometres of mineralization and where the first 20 per cent contains the A zone -- with a resource which defined 1.0 billion tonnes of 0.24 per cent Ni for 5.3 billion pounds of Class 1 nickel across indicated and inferred. EV Nickel owns the trademark for clean nickel and plans to expand and advance a clean nickel business, targeting the growing demand from the electric vehicle battery sector. The company is focused on a two-track strategy: track 1: to produce high-grade clean nickel (starting with W4) and track 2: an integrated carbon capture and storage project with large-scale clean nickel production (starting with CarLang).

The company acknowledges the financial contributions being provided by the Province of Ontario's Critical Minerals Innovation Fund and the government of Canada through the industrial research assistance program in assisting with the implementation of EV Nickel's clean nickel research and development program.

We seek Safe Harbor.