Mr. Tony Guo reports

NICKEL NORTH CLOSES UNIT PRIVATE PLACEMENT

Nickel North Exploration Corp. has closed its non-brokered private placement of five million units at a price of four cents, previously announced on Dec. 5, 2024, and Dec. 10, 2024, for aggregate gross proceeds of $200,000.

Each unit consists of one common share in the capital of the company and one common share purchase warrant, entitling the holder to purchase one additional common share for a period of 24 months from the issuance date of the warrant at an exercise price of five cents per share.

Proceeds from the private placement 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.

An insider has participated in the private placement. This 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 validation 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 the fair market value of the participation in the offering by the insider does not exceed 25 per cent of the market capitalization of the company, as determined in accordance with MI 61-101.

This private placement is subject to customary closing conditions and approvals of applicable securities regulatory authorities, including the TSX Venture Exchange.

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 that maintains good relations with local Inuit communities and is committed to sustainable development.

Nickel North has been 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.