$3.4M Federal Funding Secured to Advance Groundbreaking Carbon Storage Technology

• Canada Nickel's innovative IPT Carbonation process transforms nickel mining tailings into a permanent carbon storage solution by utilizing the ultramafic tailings as a geologically stable CO₂ storage medium.
• The company's flagship Crawford Nickel Sulphide Project is designed to be one of Canada's largest carbon storage facilities, with the potential to sequester up to 1.5 million tonnes of CO₂ annually during peak production and store a total of 54 million tonnes over its 41-year life.
• Canada Nickel is actively pursuing the development of processes that will allow the production of net zero carbon nickel, cobalt, and iron products, aiming to meet the growing demand for these critical minerals while minimizing environmental impact.
• The $3.4 million in federal funding secured by Canada Nickel will support the development of the company's groundbreaking IPT Carbonation process at the pilot plant level, enabling further advancement of this innovative carbon storage technology.
• Canada Nickel is committed to working closely with Indigenous Nations, governments, and other stakeholders to advance the sustainable development of critical mineral resources while simultaneously addressing the urgent challenge of climate change through its carbon storage initiatives.

Canada Nickel Company Inc. (TSXV:CNC), a company advancing the next generation of nickel-sulphide projects, has been selected to receive $3.4 million in funding from the Government of Canada. The funds will support the development of Canada Nickel's innovative In-Process Tailings (IPT) Carbonation process at the pilot plant level. This groundbreaking technology transforms nickel mining tailings into a permanent carbon storage solution.

Canada Nickel is focused on delivering the nickel required for the rapidly growing electric vehicle and stainless steel markets. The company has applied to trademark the terms NetZero NickelTM, NetZero CobaltTM, NetZero IronTM as it pursues processes to produce net zero carbon nickel, cobalt, and iron products. Canada Nickel's flagship project is the 100% owned Crawford Nickel Sulphide Project located in the prolific Timmins-Cochrane mining camp.

IPT Carbonation Process

The key innovation behind Canada Nickel is its proprietary IPT Carbonation process, for which the company has filed a patent application. This process utilizes the Crawford Project's ultramafic tailings as a geologically stable permanent CO2 storage solution.

At full operation, the Crawford Project has the potential to sequester up to 1.5 million tonnes of CO2 annually during peak production. Over the 41-year life of the project, it is expected to store an impressive 54 million tonnes of CO2, positioning Crawford as one of the largest carbon storage facilities in Canada and the largest in Ontario.

Advancing Sustainable Critical Mineral Development

Canada Nickel is actively collaborating with Indigenous Nations, governments, and stakeholders to advance the sustainable development of critical mineral resources while tackling the critical issue of climate change.

"This contribution is a testament to the power of innovation and collaboration," stated Mark Selby, CEO of Canada Nickel in the news release. "With the Government of Canada's support, we are turning mining tailings into a solution for climate change, creating a legacy of environmental stewardship and sustainable resource development."

Selby highlighted the potential for the IPT Carbonation process, combined with multiple Crawford-type deposits in the Timmins Nickel District, to establish a globally unique zero-carbon industrial cluster in Northeast Ontario.

Government Funding & Support

The $3.4 million in funding is being provided through Natural Resources Canada's Energy Innovation Program – Carbon Capture, Utilization, and Storage (CCUS) Research, Development, and Demonstration (RD&D) call for proposals. The funded project closely aligns with the call's objectives of characterizing and developing safe, permanent CO2 storage. It also supports the Canadian government's broader goals of reducing greenhouse gas emissions and fostering innovative clean energy technologies.

Nickel Belt MP and Parliamentary Secretary to the Minister of Energy and Natural Resources Marc G. Serre remarked:

"The Government's contribution to Canada Nickel will help to advance carbon management technologies in Canada, in line with our Carbon Management Strategy which envisions a multibillion-dollar carbon management industry to help realize the country's economic and environmental goals."

For Investors

Canada Nickel's IPT Carbonation technology and the Crawford Nickel Sulphide Project represent significant advancements in sustainable mining and carbon management. The company's innovative approach to transforming tailings into a carbon storage solution, combined with the potential for replicating this across multiple projects in the region, positions Canada Nickel as a leader in the development of clean energy technologies.

With the support of the Canadian government and ongoing collaboration with key stakeholders, Canada Nickel is well-positioned to deliver the critical minerals necessary for the growing EV and stainless steel markets while making substantial contributions to Canada's carbon reduction goals. Investors looking for exposure to the growing demand for nickel within a low political risk jurisdiction, along with potential upside from breakthrough carbon storage technology, should keep a close eye on Canada Nickel.