Mr. Tony Guo reports

NICKEL NORTH ANNOUNCES CHANGE OF NON-BROKERED PRIVATE PLACEMENT OF CONVERTIBLE DEBENTURE TO UNITS

Further to the news release of Dec. 5, 2024, Nickel North Exploration Corp. will change its non-brokered private placement of unsecured convertible debentures to an offering of up to 6.25 million units at four cents per unit for an aggregate amount of $250,000. Each unit consists of: (i) one common share; and (ii) one common share purchase warrant. Each share purchase warrant will entitle the holder to purchase one common share for a period of two years from the issuance date of the share purchase warrant at an exercise price of five cents per share.

Proceeds from the issuance will be used for general working capital, and none of the proceeds will be used for investor relations activities. The company has not determined any specific use that will represent 10 per cent or more of the gross proceeds.

Certain insiders of the company may participate in the offering. Any participation by insiders in the offering constitutes a related-party transaction as defined under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company intends to rely on exemptions from the formal valuation and minority approval requirements of sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of such insider participation, based on a determination that fair market value of the participation in the offering by insiders will not exceed 25 per cent of the market capitalization of the company, as determined in accordance with MI 61-101.

About Nickel North Exploration Corp.

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 which 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, 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.

We seek Safe Harbor.