File: Attachment 2026-05-21 NNX Closing News Release PP @ $0.05.pdf

May 21, 2026 tonyguo@nnexploration.com www.nnexploration.com

1188 West Georgia St. Suite 1488 Vancouver BC V6E 4A2

Trading Symbol: "NNX: TSX.V"

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

NEWS RELEASE

NICKEL NORTH ANNOUNCES CLOSING OF $3 MILLION NON-BROKERED PRIVATE PLACEMENT

Nickel North Exploration Corp. (NNX - TSX-Venture Exchange) (the "Company" or "Nickel North") is pleased to announce the closing of its a non-brokered private placement (the "Private Placement") of 60,000,000 Units (the "Units") at $0.05 per Unit for gross proceeds of $3,000,000, as previously announced on January 30, 2026 resulting in the issuance of 60,000,000 common shares and 30,000,000 warrants.

Each Unit will comprise one common share and one half of a warrant. A whole warrant (each a "Warrant") will entitle the holder thereof to purchase one additional common share of the Company at $0.08 per share for a period of two years following closing of the Private Placement.

All securities issued pursuant to the Private Placement are subject to a hold period of four months and a day from the anticipated closing date as required by Exchange Policy 4.1 section 1.9(e). All funds are denominated in Canadian dollars with no finders fees paid.

Proceeds from the Private Placement will be used for field exploration programs on the Hawk Ridge Ni-Cu-PGE-Co project, general working capital and potential acquisitions of new assets.

Neither the Exchange nor its Regulations Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this press release.

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 ("MI 61-101"). 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% 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

Nickel North Exploration is a Canada-based exploration company focused on defining a Cu-Ni-Co-PGE mineral resource at its Hawk Ridge Project in Northern Quebec. The board of directors, advisor

AC/14531873.2 tonyguo@nnexploration.com www.nnexploration.com

1188 West Georgia St. Suite 1488 Vancouver BC V6E 4A2

committee and management team are experienced, successful mine finders. The property consists of a 50 km long belt of strong magmatic Cu-Ni-Co-PGE occurrences covering 179.67 km2. Quebec is a mining-friendly jurisdiction. Nickel North Exploration is a conscientious corporate citizen maintains good relations with local Inuit communities and is committed to sustainable development. For more information on the company, please visit www.nnexploration.com or follow Company on Twitter at https://twitter.com/nickelnorth.

Nickel North Exploration Corp. has been identified as a key player in the Critical and Strategic Minerals value chain by Quebec's Ministry of Economics and Innovation (MEI) in 2021 (Quebec Plan for the Development of Critical and Strategic Minerals 2020-2025 (quebec.ca), which is part of Quebec's Plan for the Development of Critical and Strategic Metals (QPDCSM) and aims to stimulate the exploration and mining of SCMs, their transformation and recycling.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Per: "Tony Guo" Tony Guo

Nickel North Exploration Inc. Tony Guo. P. Geo, Chief Executive Officer (Tel: +1-778-877- 5480) E-mail: tonyguo@nnexploration.com

For further information please visit http://www.nnexploration.com This news release may contain forward-looking information, which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward- looking information in this news release may include, but is not limited to, the Company's objectives, goals or future plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames, or at all. The Company disclaims any intention or obligation to update or revise any forward looking information, whether as a result of new information, future events or otherwise, other than as required by law. Neither TSX Venture exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

AC/14531873.2