Mr. Gadi Levin reports

EV NICKEL ANNOUNCES C$3.5 MILLION PRIVATE PLACEMENT OF FLOW-THROUGH COMMON SHARES

EV Nickel Inc. has entered into an agreement with PowerOne Capital Markets Ltd. and Clarus Securities Inc. pursuant to which the lead agents will act on behalf of the company, on a best efforts agency basis in connection with a brokered private placement of up to 4,666,667 flow-through common shares, at a price per flow-through share of 75 cents, for aggregate gross proceeds of up to $3.5-million.

The net proceeds raised from the offering will be used for the continued exploration and advancement of the company's Shaw Dome assets located south of Timmins, Ont.

The flow-through shares to be issued under the offering will be offered pursuant to applicable exemptions from the prospectus requirements under applicable securities laws. Closing of the offering is anticipated to occur on or about March 28, 2024, or such other date as may be agreed to by the company and Clarus. The securities issued pursuant to the offering will be subject to a statutory hold period of four months plus one day from the closing date in accordance with applicable securities legislation. This proposed offering is subject to receipt of all required regulatory approvals, including the approval of the TSX Venture Exchange

The company also announced today president and chief executive officer Sean Samson has advised the company that he is resigning to pursue other opportunities. Mr. Samson will leave the board of directors of the company immediately and will step down as president and chief executive officer, effective March 7, 2024.

The board has appointed John Paterson as interim chief executive officer of the company. Mr. Samson will assist in the transition to the new senior management team for the interim period as the company commences a search for new leadership. "On behalf of the board, our senior management team and employees, I would like to thank Sean for his leadership, contributions and commitment to the company over the last three years," said board member Gadi Levin.

About EV Nickel Inc.

EV'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 has over 30,000 hectares to explore across the Shaw Dome and has identified over 100 kilometres of additional favourable strike length.

We seek Safe Harbor.