Mr. Martin Turenne reports

FPX NICKEL LEVERAGES STRONG BALANCE SHEET AND INTENDS TO LAUNCH NORMAL COURSE ISSUER BID

FPX Nickel Corp.'s board of directors has authorized a normal course issuer bid (the NCIB) to purchase for cancellation, from time to time, as the company considers advisable, up to five million common shares of the company, representing approximately 2 per cent of the current public float of the common shares. The NCIB is subject to approval of the TSX Venture Exchange, and the company has filed a notice of intention with the exchange in this regard.

"With a working capital position of $36.7-million as reported in our Sept. 30, 2024, financial statements, FPX believes it is in a very strong position to drive continued advancement at our flagship Baptiste nickel project and to return capital to shareholders," stated Martin Turenne, the company's president and chief executive officer. "We look forward to continued progress at Baptiste in 2025, to advancing our global exploration joint venture with JOGMEC and to driving additional shareholder value through the NCIB program."

Purchases of common shares will be made on the open market through the facilities of the exchange, in compliance with regulatory requirements at the prevailing market price of the common shares at the time of acquisition. The actual number of common shares that may be purchased for cancellation and the timing of any such purchases will be determined by the company and dependent on market conditions.

The company intends to commence the NCIB because it believes that the market price of its common shares is undervalued and does not reflect the value of the company's assets and future prospectors and that the purchase of common shares under the NCIB is in the best interest of the company, a desirable use of its available cash, and will enhance shareholder value in general.

Subject to receipt of exchange approval, the NCIB is expected to commence on or around Dec. 5, 2024, and will end on the latest date that is 12 months after commencement of the NCIB or at such earlier time as the NCIB is completed or terminated at the option of FPX Nickel. The company has retained Cormark Securities Inc. as its broker to conduct the NCIB on its behalf.

To the knowledge of the company, no director, senior officer or other insider of the company currently intends to sell any shares under the NCIB.

About FPX Nickel Corp.

FPX Nickel is focused on the exploration and development of the Baptiste nickel project, located in central British Columbia, and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite.

We seek Safe Harbor.