Mr. Grant Mourre reports

SPC NICKEL AMENDS COOPERATION AGREEMENT WITH VALE CANADA LIMITED, EXTENDING TERM OF THE AGREEMENT ON WEST GRAHAM PROJECT

SPC Nickel Corp. has completed an amendment to the co-operation agreement dated Jan. 19, 2023, with Vale Canada Ltd. regarding the West Graham project located in the world-class Sudbury basin which extends the feasibility study deadline by one year to June 30, 2027.

Grant Mourre, chief executive officer and director, SPC Nickel, stated: "Having delivered a maiden mineral resource estimate within just 12 months of commencing work, completed a positive prefeasibility level metallurgical study and drilled over 16,700 metres, West Graham is now established as a well-defined, scalable nickel-copper resource in one of the world's leading mining jurisdictions. This amended co-operation agreement provides the meaningful runway we need to advance methodically toward a feasibility study -- the logical next step for a deposit of this scale and quality in the Sudbury basin. We remain focused on advancing the project in a disciplined and systematic manner as we build on the impressive progress made to this point."

SPC Nickel accomplishments to date

• Publication of a National Instrument 43-101-compliant technical report disclosing the maiden mineral resource for West Graham containing 19.3 Mt (million tonnes) grading 0.42 per cent Ni (nickel) and 0.28 per cent Cu (copper) of indicated resources and 3.3 Mt grading 0.37 per cent Ni and 0.28 per cent Cu of inferred resources (refer to SPC Nickel Dec. 4, 2023, technical report).
• Total drilling of 16,726 metres in 103 holes to the end of 2025.
• Completion of a prefeasibility level metallurgical study.

Details of amended co-operation agreement

The amendment, effective March 27, 2026, extends the feasibility study deadline under the co-operation agreement dated Jan. 19, 2023, by one year, from June 30, 2026, to June 30, 2027. The corresponding extension option -- available to SPC Nickel upon delivery of a National Instrument 43-101-compliant mineral resource statement and a prefeasibility study -- has similarly been extended from June 30, 2028, to June 30, 2029. All other terms of the co-operation agreement remain unchanged. The company plans to continue to evaluate the economic viability toward a production decision in the future.

Quality assurance, quality control and qualified persons

Technical elements of this news release have been approved by Grant Mourre, PGeo (PGO), chief executive officer and president of SPC Nickel, and a qualified person under National Instrument 43-101.

About SPC Nickel Corp.

SPC Nickel is a Canadian public corporation focused on exploring for high-grade polymetallic Cu-Ni-PGM mineralization in Nunavut and within the world-class Sudbury mining camp. SPC Nickel is currently exploring its unique district-scale polymetallic Muskox project in Nunavut. The company is also advancing its 100-per-cent-owned exploration project Lockerby East located in the heart of the historic Sudbury mining camp, which includes the West Graham Resource and the LKE Resource. SPC Nickel is committed to advancing high-potential polymetallic projects in Tier 1 jurisdictions across Canada with an emphasis on Nunavut and Sudbury.

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