Mr. Mark Selby reports

CANADA NICKEL REPORTS CONTINUED EXPLORATION SUCCESS AT MACDIARMID, PROVIDES EXPLORATION UPDATE

Canada Nickel Company Inc. has released positive results from its latest exploration drilling at the company's MacDiarmid property. The new drilling program has successfully identified further mineralization extending over a strike length of approximately 2,200 metres and a width of about 400 metres. These results build on the initial work completed in the eastern portion of the property in 2021.

Highlights

• Five holes testing central region at MacDiarmid yielded multihundred metre intervals including 0.25 per cent nickel over 363 metres in hole MAC 25-09;
• New exploration phase to commence July 14 at Midlothian.

Chief executive officer Mark Selby said: "Our regional exploration program continues to reinforce the strong potential of the Timmins nickel district and mark a positive step forward following our earlier drilling at MacDiarmid. With our recently completed financing, we are set to resume drilling at our Midlothian property the week of July 14. That same week, we anticipate publishing initial resources for our Mann Central and Texmont properties, adding our fourth and fifth resources in the district. By year-end, we expect to publish three additional resource estimates, bringing the total to nine -- including Crawford -- and further demonstrating the remarkable scale and opportunity within the Timmins nickel district."

MacDiarmid property

The MacDiarmid property is located 23 kilometres southwest of Crawford, 27 kilometres northwest of Timmins. The property hosts an arcuate ultramafic body that measures at least three kilometres in length and up to 600 metres in width (covering 1.1 square kilometres or similar in size to the Crawford Main zone target).

Drilling in the winter of 2025 focused on the central portion of the target, testing the width and length extension from the boundaries outlined in earlier exploration campaigns during 2021 and 2022. The drilling intersected predominantly long sections of serpentinized dunite and minor peridotite with disseminated nickel sulphide mineralization consisting primarily of pentlandite and heazlewoodite. The company has drilled a total of 12 holes at MacDiarmid, seven of which were drilled during the 2025 campaign. One hole, MAC25-06 targeted an EM (electromagnetic) anomaly located 800 metres north, outside of the main ultramafic body. The drill hole intersected layered metasedimentary units that in some cases contained angular clasts with varying degrees of sulphide mineralization in them but did not yield any meaningful results. MAC25-10, drilled near an interpreted fault, intersecting at depth, a section of felsic volcanics with strong sulphide mineralization. The fault and EM anomalies remain of interest to the company and a follow-up program will be planned for fall 2025. Assay highlights from all the 2025 drill holes are presented in this release (Table 1).

Quality assurance and control, drilling, and assaying

Edwin Escarraga, MSc, PGeo, a qualified person as defined by National Instrument 43-101, is responsible for the continuing drilling and sampling program, including quality assurance (QA) and quality control (QC). The NQ-sized core is collected from the drill in sealed core trays and transported to the core logging facility. The core is marked and sampled at 1.5-metre lengths and cut with a diamond blade saw. One set of samples is transported in secured bags directly from the Canada Nickel core shack to Actlabs Timmins, while a second set of samples is securely shipped to SGS Lakefield for preparation, with analysis performed at SGS Burnaby. All are ISO/IEC 17025 accredited labs. Analysis for precious metals (gold, platinum and palladium) are completed by fire assay while analysis for nickel, cobalt, sulphur and other elements are performed using a peroxide fusion and ICP-OES analysis. Certified standards and blanks are inserted at a rate of three QA/QC samples per 20 core samples making a batch of 60 samples that are submitted for analysis.

Qualified person and data verification

Stephen J. Balch, PGeo (Ontario), vice-president of exploration of Canada Nickel and a qualified person as such term is defined by National Instrument 43-101, has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Canada Nickel.

About Canada Nickel Company Inc.

Canada Nickel Company is advancing the next generation of nickel-sulphide projects to deliver nickel required to feed the high-growth electric vehicle and stainless steel markets. Canada Nickel Company has applied in multiple jurisdictions to trademark the terms NetZero Nickel, NetZero Cobalt, NetZero Iron and is pursuing the development of processes to allow the production of net-zero carbon nickel, cobalt and iron products. Canada Nickel provides investors with leverage to nickel in low political risk jurisdictions. Canada Nickel is currently anchored by its 100-per-cent-owned flagship Crawford nickel-cobalt sulphide project in the heart of the prolific Timmins-Cochrane mining camp.

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