Canada Nickel's 2024 in Review: A Year of Growth, Partnerships & Milestones

About Canada Nickel

Canada Nickel Company (TSX: CNC) is a Canadian-based mining company advancing its flagship Crawford Nickel Sulphide Project in Ontario, Canada. The Crawford project is a district-scale asset targeting critical minerals essential for the electric vehicle (EV) and stainless steel markets. Canada Nickel has positioned itself as a leader in sustainably produced nickel, using innovative technologies and strategic partnerships to support its development.

Operational Advancements: Laying the Foundation for Growth

Canada Nickel made significant progress on its flagship Crawford Nickel Sulphide Project in 2024, achieving key regulatory, exploration, and development milestones that lay the groundwork for future growth:

• ‍Impact Statement Approval
  In April 2024, the federal Impact Assessment Agency of Canada accepted the Crawford Impact Statement, advancing the project to the technical review and public comment stage. This milestone marks Crawford as the first mining project to progress under the 2019 Impact Assessment Act, showcasing Canada Nickel’s commitment to environmental and community engagement.‍
• Exploration Success
  Canada Nickel completed an extensive drilling program across its Timmins Nickel District properties, including promising results at Mann South, Mann West, and Reid. Notable highlights include:
  • At Reid, drilling intersected 661 meters grading 0.29% nickel, with an initial resource estimate expected by year-end.
  • At Mann South, high-grade nickel sulphide discoveries confirmed its potential as a high-value asset.‍‍
• ‍Pre-Implementation Studies‍
  In August, Canada Nickel received C$4.38 million in funding from the Critical Minerals Infrastructure Fund to support pre-implementation studies for Crawford. This funding ensures the project remains on track for development.
  

Corporate Milestones: Strengthening Strategic and Financial Foundations

Strategic partnerships, Indigenous collaboration, and significant financial commitments marked a transformative year for Canada Nickel, strengthening its position in the critical minerals sector:

• $20M Investment by Taykwa Tagamou Nation (TTN)‍
  In December 2024, Canada Nickel announced a $20 million investment by the Taykwa Tagamou Nation (TTN), a significant milestone for both the company and the First Nations community. The investment:
  • Provides TTN with an equity stake in the Crawford Nickel Sulphide Project.
  • Reinforces Canada Nickel’s commitment to fostering partnerships with Indigenous communities.
  • Demonstrates TTN’s confidence in the economic and environmental potential of Crawford.‍
• Major Financing Achievements
  ‍In September, Export Development Canada issued a letter of interest of US$500 million of project debt, as mandated lead arranger, to finance the Crawford project, emphasizing the project’s national significance. In addition Canada Nickel also received a CAD$500 million support letter from a leading financial institution. ‍

• Strategic Partnership with Samsung
  In Febraury, Samsung SDI became a shareholder in Canada Nickel, investing US$18.5 million, giving them the option to invest an additional $100 million at construction decision, granting 10% equity stake at the project level in Crawford, and 30% off-take rights for Crawford.‍

• Expansion of Landholdings‍
  Canada Nickel continued to expand its Timmins Nickel District, with exploration programs targeting 14 properties. These efforts aim to solidify its district-scale potential and add to its resource base.‍
• Commitment to Sustainability‍
  Canada Nickel advanced its NetZero Nickel™ initiative, focusing on carbon capture and sequestration technologies that position Crawford as a leader in sustainable mining practices.
  

Financial & Economic Metrics: A Strong Value Proposition

Canada Nickel's strong financial backing and impressive resource growth metrics underscore the robust value proposition of its Crawford project, setting it apart as a leader in the nickel industry:

The Crawford Nickel Sulphide Project demonstrated robust financial metrics in 2024, driven by government support, partnerships, and Indigenous collaboration:

• Capital Commitments: Financial backing from Agnico Eagle, the Samsung partnership, government and First Nations. and Samsung partnership.
• Resource Growth: Significant exploration success expanded the company’s nickel resource base, aligning with growing demand for critical minerals.

Outlook for 2025: Accelerating Development

Canada Nickel is poised to achieve new milestones in 2025, focusing on advancing Crawford toward production. Key priorities include:

• Delivering an updated resource estimate for the Timmins Nickel District.
• Finalizing detailed engineering and feasibility studies for Crawford.
• Progressing regulatory permitting to enable construction in mid-2025.
• Expanding exploration programs to unlock additional resource potential.
  

Conclusion

Canada Nickel’s 2024 performance underscores its leadership in the nickel mining sector, particularly in North America. By balancing exploration success, strategic partnerships, Indigenous collaboration, and sustainability, the company has created a strong foundation for future growth. With ambitious goals for 2025, Canada Nickel is well-positioned to drive shareholder value while supporting the global transition to a low-carbon economy.