Mr. Mark Selby reports

CANADA NICKEL ANNOUNCES US$32 MILLION BRIDGE LOAN FACILITY WITH AURAMET INTERNATIONAL, INC.

Canada Nickel Company Inc. has entered into a $32-million (U.S.) bridge loan facility with Auramet International Inc., which is expected to close on or before Feb. 9, 2026. Proceeds from the facility provide additional financing to advance the company's flagship Crawford nickel sulphide project and to repay the existing loan with Ber Tov Capital Corp. (BT Capital), signed on May 9, 2025.

Mark Selby, chief executive officer, said: "We are pleased to have the continued support of Auramet, our long-standing financing partner, through this $32-million (U.S.) bridge facility. This funding ensures we remain well capitalized to advance the Crawford nickel sulphide project toward construction by year-end 2026 as we complete funding discussions with government and project partners."

Loan facility

The bridge loan facility will be due May 9, 2026, will carry an interest rate of 1.00 per cent per month and be subject to a 2.5-per-cent arrangement fee. At closing, Auramet will also receive 1.75 million one-year warrants having an exercise price equal to a 5-per-cent premium to the five-day volume-weighted average price of the common shares of the company on the TSX Venture Exchange for the five consecutive trading days ending on the trading day immediately prior to the closing date. The loan will be subject to such terms and conditions, including certain specified positive and negative covenants that are customary for a transaction of this nature. The warrants and the underlying shares will be subject to a four-month hold period under applicable Canadian securities laws. The proceeds will be used for working capital purposes and to repay the existing loan with BT Capital. The closing of the loan facility is subject to customary conditions, including the approval of the TSX Venture Exchange.

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 and 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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