Canada Nickel Advances Sustainable Nickel Projects with Strong 2023 ESG Performance

• Canada Nickel released its 2023 ESG report detailing advancements in sustainable and responsible mining practices, including its groundbreaking permanent carbon storage technologies.
• In 2023, Canada Nickel strengthened Indigenous partnerships, reduced environmental impact, enhanced community engagement, improved governance, and maintained a strong safety record.
• Canada Nickel increased its permanent CO₂ storage potential to 1.3 million tonnes annually, positioning the Crawford Nickel Sulphide Project to become one of Canada's largest carbon storage sinks.
• Canada Nickel is contributing to a future where resource development aligns with environmental stewardship, social responsibility, and meaningful Indigenous reconciliation.
• With 50% local hiring, significant local spending, and $1.5M allocated to community programs, Canada Nickel is generating substantial benefits for the region.

Canada Nickel Company Inc. is a leading developer of the next generation of low-carbon nickel-sulphide projects. The company is applying to trademark the terms NetZero Nickel™, NetZero Cobalt™, and NetZero Iron™ as it advances processes to produce net-zero carbon nickel, cobalt, and iron products. By offering investors exposure to nickel assets in low political risk jurisdictions, Canada Nickel provides an attractive investment opportunity to gain leverage to the high-growth electric vehicle and stainless steel markets. The company's flagship Crawford Nickel Sulphide Project, located in the prolific Timmins-Cochrane mining camp, anchors its operations.

Pioneering Sustainable Nickel Mining

The 2023 ESG report released by Canada Nickel showcases the company's unwavering commitment to sustainable and responsible mining practices. CEO Mark Selby emphasized that the company's progress in 2023 demonstrates the exceptional talent and dedication of the Canada Nickel team, as well as the company's pioneering role in the nickel industry.

"We are proud to release our 2023 ESG Report, which outlines our ongoing commitment to sustainable and responsible mining practices, including advancement in groundbreaking permanent carbon storage technologies, as well as investments from industry leaders reflecting strong confidence in our strategic direction." - CEO Mark Selby

Canada Nickel's groundbreaking permanent carbon storage technologies are a key aspect of its sustainability initiatives. In 2023, the company increased its permanent CO2 storage potential to 1.3 million tonnes annually over the life of the mine at its Crawford Nickel Sulphide Project. This positions the project to become one of Canada's largest, and Ontario's largest, permanent carbon storage sinks, demonstrating Canada Nickel's proactive approach to reducing its carbon footprint.

Indigenous Partnerships and Community Engagement

Canada Nickel views Indigenous reconciliation and community stewardship as core principles embedded into its operations. In 2023, the company made significant strides in strengthening relationships with Indigenous Nations, signing two new Exploration Agreements and providing $446,440 in payments for capacity building and compensation for potential impacts of exploration work on rights and interests.

The company's commitment to the local community is evident through its 50% local hiring rate and the allocation of 27% of its total budget to local procurement. Furthermore, Canada Nickel dedicated $1.5 million to local programs and partnerships, demonstrating its dedication to generating long-term holistic benefits for the region in which it operates.

Environmental Stewardship and Safety

Canada Nickel's 2023 ESG report highlights the company's achievements in reducing its environmental impact and maintaining a strong safety record. The company significantly increased the permanent carbon storage potential of its Crawford Nickel Sulphide Project to 1.3 million tonnes of CO₂ annually over the life of the mine. This positions the project to become one of the largest carbon storage facilities in both Ontario and Canada. The company achieved this through its innovative In-Process Tailings (IPT) Carbonation process, which leverages the natural ability of the host rock to capture and sequester CO₂.

Additionally, Canada Nickel reduced its exploration-related emission intensity from 37 kg of CO₂ equivalent per meter drilled in 2022 to 31 kg in 2023, demonstrating its commitment to minimizing its carbon footprint even during the exploration phase and showcasing its proactive efforts to minimize greenhouse gas emissions.

In terms of safety, Canada Nickel reported zero fatalities, lost-time injuries, or high-consequence injuries in 2023. This achievement underscores the company's unwavering commitment to maintaining a safe working environment for its employees and contractors.

Governance and Organizational Enhancements

Recognizing the importance of strong governance, Canada Nickel made notable enhancements to its governance structures in 2023. The company achieved 33% female representation on its Board of Directors, refined policies at the Board and Committee levels, and established an ESG Committee to oversee its sustainability initiatives.

Francisca Quinn, Chair of the ESG Committee, emphasized that sustainability is a key part of building a thriving business that will endure for generations to come:

“The programs and achievements highlighted in the report reflect our dedication to integrating sustainability into everything we do. We believe that transparency is crucial, and as an industry leader, we’re excited to share how we’re creating lasting value for all our stakeholders.”

The programs and achievements highlighted in the 2023 ESG report reflect Canada Nickel's dedication to integrating sustainability into all aspects of its operations.

Conclusion for Investors

Canada Nickel's strong performance in 2023, as detailed in its ESG report, positions the company as a leader in sustainable nickel mining. The company's advancements in permanent carbon storage technologies, Indigenous partnerships, community engagement, environmental stewardship, safety, and governance demonstrate its commitment to responsible resource development.

As the demand for low-carbon nickel continues to grow, driven by the expanding electric vehicle and stainless steel markets, Canada Nickel is well-positioned to meet this demand while adhering to the highest ESG standards. The company's NetZero Nickel™, NetZero Cobalt™, and NetZero Iron™ initiatives further solidify its position as a sustainable nickel producer.