Mr. Tony Guo reports

NICKEL NORTH SIGNS $100,000 LOAN AGREEMENT WITH ITS MAJOR SHAREHOLDER AND RENEWS 15 MINERAL CLAIMS TO 2026

Nickel North Exploration Corp. has entered into a loan agreement with SinoTech (Hong Kong) Corp. Ltd. for a loan to the company in the principal amount of $100,000 for a term of one year. The principal amount will bear interest at a fixed rate of 10 per cent per annum. The loan is unsecured, and the company did not pay any bonus to SinoTech in connection with the loan.

The lender is a wholly owned subsidiary of Sinotech Minerals Exploration Co. Ltd. SinoTech owns approximately 50.253 per cent of the issued common shares of the company.

The loan is considered a related-party transaction under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The loan is exempt from the requirements to obtain a formal valuation pursuant to the exemption in Section 5.5(b) of MI 61-101 as the company is not listed on a specified market and is exempt from minority shareholder approval pursuant to Section 5.7(1)(f) of MI 61-101, as the loan does not have an equity or voting component and is on reasonable commercial terms that are not less advantageous to the company than if the loan agreement were obtained from an arm's-length party.

On a separate note, the company renewed 15 mineral claims from its Hawk Ridge project to April 30, 2026, or June 4, 2026, on March 21, 2024. The company can use its working credits to renew other 233 mineral claims to 2026 in June, 2024.

About Nickel North Exploration Inc.

Nickel North is a Canada-based exploration company focused on defining a copper-nickel-cobalt-platinum-group-element mineral resource at its Hawk Ridge project in Northern Quebec. The board of directors, adviser committee and management team are experienced, successful mine finders. The property consists of a 50-kilometre-long belt of strong magmatic Cu-Ni-Co-PGE occurrences covering 179.67 square kilometres. Quebec is a mining-friendly jurisdiction. Nickel North is a conscientious corporate citizen, maintains good relations with local Inuit communities and is committed to sustainable development.

Nickel North was identified as a key player in the critical and strategic mineral value chain by Quebec's Ministry of Economics and Innovation in 2021 (Quebec plan for the development of critical and strategic minerals, 2020 to 2025), which is part of Quebec's plan for the development of critical and strategic metals and aims to stimulate the exploration and mining of SCMs, their transformation and recycling.

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