Mr. Mark Selby reports

CANADA NICKEL ANNOUNCES SELECTION OF SMS EQUIPMENT INC. AND KOMATSU FOR $1.5 BILLION LOAD & HAUL FLEET PURCHASE

Canada Nickel Company Inc. has selected Komatsu, and its largest Canadian dealer, SMS Equipment, to supply load and haul and associated support mining fleet to its Crawford nickel project. The company received comprehensive proposals from four equipment vendors and, after careful consideration across a wide range of criteria, selected Komatsu for its proven technologies in automation and electrification, which are aligned with the company's vision of safe, sustainable and low carbon production of critical minerals from Crawford.

Highlights:

• Komatsu and their largest Canadian dealer SMS Equipment have been selected to supply load and haul and support mining fleet for the Crawford nickel project.
• More than 300 machines with a current value of approximately $1.5-billion are expected to be purchased over the 40-year project life.
• The automation and electrification technology employed by Komatsu equipment is aligned with Canada Nickel's vision to make Crawford one of the most advanced mining operations globally.

Mark Selby, chief executive officer of Canada Nickel, said: "The selection of Komatsu and SMS Equipment to provide the load and haul mining and support fleet to Crawford marks a major step in the development of this project. I am very excited about the potential value that could be unlocked by applying Komatsu's proven technologies, including Dispatch for fleet management and FrontRunner for autonomous haul trucks. Komatsu and SMS Equipment also have considerable experience implementing trolley-assisted truck haulage, which significantly reduces diesel fuel consumption and CO2 emissions while facilitating an easy transition to battery-powered electric vehicles which are anticipated to be available when the company expects to begin production. We expect that SMS Equipment's experience implementing these technologies at other Canadian operations and demonstrated commitment to our project can substantially derisk the project start-up and ongoing operation. We look forward to continuing to advance Crawford towards a construction decision in 2027."

SMS Equipment's president and chief executive officer, Robin Heard, stated, "We view Crawford as one of the most important new mining projects in Canada, and we are looking forward to partnering with Canada Nickel's experienced team to execute their vision."

The company expects to complete negotiation of definitive agreements with SMS Equipment and Komatsu by the first quarter of 2027, along with fleet support agreements, and the previously announced fleet financing arrangements with Taykwa Tagamou Nation.

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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