Mr. Mark Selby reports

CANADA NICKEL ANNOUNCES PROPERTY TRANSACTIONS

Canada Nickel Company Inc. has entered into a binding letter of intent with Noble Mineral Exploration Inc. signed on July 13, 2026, to sell the Lucas gold project to Noble. Canada Nickel Company has also acquired property within the Crawford nickel project overall footprint.

Mark Selby, chief executive officer of Canada Nickel, said, "We are pleased to position the company to generate value from a non-core property with Noble Mineral Exploration and wish them well with their exploration activities."

Lucas transaction structure:

• Noble will issue five million units in the capital of Noble, with the units being valued at six cents per unit. Each unit will consist of one common share and one-half non-transferable common share purchase warrant. One common share purchase warrant will be exercisable at 15 cents per share for a period of two years.
• Canada Nickel will be granted the right to purchase from Noble a 25-per-cent interest in the property, at any time beginning on the trigger date (as defined below), by making a payment to Noble equal to four times the expenditures incurred by Noble for the exploration and maintenance of the property (including any costs of geological, scientific and other analyses and reports). The trigger date will be the date that is the earlier of: (1) 36 months from the closing of the transaction; (2) the date when at least $5-million of exploration expenditures have been incurred on or with respect to the property (including any adjacent properties); and (3) the date when Noble enters into a binding agreement for the sale of the property, or the date when a change of control occurs with respect to Noble, unless the back-in right is not effected by such transaction.

The transactions under the letter of intent remain subject to the parties negotiating a definitive agreement as well as compliance with legal requirements and any requirements of the TSX Venture Exchange. As such, Canada Nickel and Noble will announce further details as work on the transaction proceeds.

Other property acquisitions

Canada Nickel has acquired a 100-per-cent interest in a set of mining claims in Lucas township and they are within the company's proposed Crawford project overall footprint. The purchase includes the issuance of 60,000 Canada Nickel common shares (subject to a four-month hold) and a net smelter return (NSR) of 1.5 per cent, 50 per cent of which can be bought down for $500,000 (thus reducing the net smelter return royalty to 0.75 per cent).

Qualified person and data verification

Stephen J. Balch, PGeo (Ontario), vice-president, 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 Company.

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 nickel district.

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