Canada Nickel Expands Timmins District with Major Resource Additions at Mann Central & Texmont

• Canada Nickel are focused on developing nickel sulphide projects in the Timmins region of Ontario, with a portfolio of nickel properties including its flagship Crawford Nickel Sulphide Project.
• The company announced initial mineral resource estimates for Mann Central and Texmont projects, significantly expanding its resource base and reinforcing the potential of its regional nickel district strategy.
• Mann Central delivered an Indicated Mineral Resource of 236.7 million tonnes grading 0.22% nickel containing 0.52 million tonnes of nickel, plus 543.2 million tonnes Inferred grading 0.21% nickel containing 1.15 million tonnes of nickel.
• Texmont reported a total Measured & Indicated Mineral Resource of 37.8 million tonnes grading 0.29% nickel, with higher-grade components including 1.69 million tonnes at 0.71% nickel and 248,000 tonnes at 1.03% nickel.
• The Timmins Nickel District now contains 9.2 million tonnes of Measured & Indicated nickel resources and 9.5 million tonnes of Inferred nickel resources across six deposits, with three additional resource estimates planned by year-end.

Timmins Nickel District Scale & Context

The latest resource estimates bring Canada Nickel's total district holdings to impressive proportions. The company now reports mineral resources across six properties totaling 9.2 million tonnes of contained nickel metal in the Measured & Indicated categories, plus 9.5 million tonnes of contained nickel metal as Inferred Mineral Resources.

To provide context for these numbers, Canada Nickel notes that the Sudbury nickel district, one of the world's most significant nickel regions, has an estimated nickel endowment of 19 million tonnes of contained nickel. This comparison suggests the Timmins Nickel District could potentially represent a substantial portion of a major nickel district's total endowment.

CEO Mark Selby emphasized the growing significance of the district: 

"We are very pleased with these two new resources and even more excited by the growing scale of the Timmins Nickel District with over 9 million tonnes in each of the Measured & Indicated and Inferred categories."

The company has indicated that three additional mineral resource estimates will be published by year-end, suggesting further potential expansion of the district's total resource base.

Mann Central Project: Scale & Potential

Resource Estimates & Dimensions

Mann Central represents the larger of the two newly announced resources, with dimensions and scale comparable to Canada Nickel's initial Crawford project. The project delivered an Indicated Mineral Resource of 236.7 million tonnes grading 0.22% nickel, containing 0.52 million tonnes of nickel, plus an Inferred Mineral Resource of 543.2 million tonnes grading 0.21% nickel, containing 1.15 million tonnes of nickel.

The deposit's physical dimensions are substantial, measuring approximately 2.4 kilometres long, up to 700 metres wide, and extending to 500 metres deep, while remaining open in all directions. Located only 23 kilometres east of the Crawford project, Mann Central benefits from year-round accessibility and proximity to existing infrastructure.

Exploration Potential

Beyond the established mineral resources, Mann Central presents significant exploration upside. The company has identified an Exploration Target of an additional 0.6-2.0 billion tonnes grading 0.19-0.21% nickel. This target is based on the understanding that the area of the geophysical target covered by the current mineral resource estimate represents only approximately 40% of the total target geophysical area.

The exploration target was derived by modeling identified nickel sulphide mineralization within the current estimation envelope but outside of the current resource area. However, the company cautions that the potential tonnages and grades are conceptual in nature, with insufficient exploration completed to define a current mineral resource, and notes the risk that further exploration may not result in delineation of a mineral resource.

Technical Parameters

The Mann Central resource estimate was prepared by Caracle Creek International Consulting Inc. and its sub-consultant L&M Geociencias, following industry standard CIM guidelines. The estimate utilized data from 32 surface drill holes totaling 12,563 metres of core drilling, completed by Canada Nickel in 2023 and 2024.

The geological model comprises two mineralized domains hosted by variably serpentinized ultramafic rocks: a relatively higher-grade core (dunite) and a lower grade (peridotite). The resource estimate used a cut-off grade of 0.10% nickel to define potentially economic material.

Texmont Project: Higher-Grade Resource

Resource Characteristics

Texmont, while smaller than Mann Central, delivered notable higher-grade mineralization. The project reported a total Measured & Indicated Mineral Resource of 37.8 million tonnes grading 0.29% nickel, containing 109,000 tonnes of nickel, plus Inferred Mineral Resources of 57.7 million tonnes grading 0.22% nickel, containing 143,900 tonnes of nickel.

The deposit's higher-grade characteristics are particularly noteworthy, with the resource including 1.69 million tonnes at 0.71% nickel, including 248,000 tonnes at 1.03% nickel. This higher-grade component could potentially provide economic advantages in processing and extraction.

Geological Setting & Mineralization

The Texmont deposit measures approximately 1.3 kilometres long, up to 150 metres wide, extending to 500 metres deep and remaining open at depth. The sulphide mineralogy consists mainly of pentlandite and pyrrhotite with minor millerite, heazlewoodite, pyrite, and chalcopyrite.

The sulphide mineralization occurs primarily as net-textured to locally semi-massive at the core of the high-grade horizon, surrounded by a medium to low grade envelope characterized by disseminated fine-grained sulphide mineralization.

Historical & Recent Drilling

The Texmont resource estimate incorporated both historical and recent drilling data. The estimate utilized 144 drill holes totaling 44,528 metres of core drilling, including 78 drill holes from historical Fletcher Nickel Inc. drilling campaigns between 2006 and 2008, plus 65 drill holes completed by Canada Nickel between 2022 and 2024.

Strategic Implications &  Management Outlook

Development Strategy

CEO Mark Selby outlined the company's strategic approach:

"Mann Central is a mineral resource with significant scale and considerable potential for further testing in the future. Texmont, though a smaller target, has delivered strong results with meaningful quantities of higher grade nickel."

The company appears to be pursuing a multi-pronged development strategy, with Crawford advancing toward a construction decision while building a portfolio of additional resources that could support long-term district development.

Timeline & Priorities

Selby indicated the company's near-term priorities: 

"I look forward to advancing Crawford towards a year-end construction decision and to showcasing the full potential of the Timmins Nickel District, with three additional mineral resource estimates to be published by year-end."

This timeline suggests investors should expect significant news flow over the remainder of 2025, with both the Crawford construction decision and additional resource estimates potentially serving as major catalysts.

Technical & Economic Considerations

Metallurgical Parameters

The resource estimates incorporated preliminary metallurgical assumptions based on the range of grade and ratio of sulphur to nickel. For Mann Central, calculated recovery averages 39% for nickel, 10% for cobalt, 54% for iron, 29% for chromium, 39% for palladium and 18% for platinum.

Texmont showed higher recovery rates, with calculated averages of 59% for nickel, 62% for cobalt, 50% for palladium and 25% for platinum, based on the range of peridotite and talc ore.

Economic Assumptions

Both resource estimates were constrained by conceptual pit envelopes developed using current metal price assumptions: US$21,000/t nickel, US$40,000/t cobalt, US$325/t iron, US$3,860/t chromium, US$1,350/oz palladium, and US$1,150/oz platinum.

The estimates assumed different mining costs for overburden and rock mining, ranging from C$1.47 to C$4.47/t mined, with processing costs varying based on the anticipated operation scale.

For Investors

Canada Nickel's announcement of significant resource estimates at Mann Central and Texmont represents a substantial expansion of the company's resource base and validates its regional district strategy. With 9.2 million tonnes of Measured & Indicated nickel resources across six deposits, the company has established a substantial foundation for long-term development in the Timmins area.

The scale of Mann Central, comparable to the initial Crawford resource, provides potential for a second major development project, while Texmont's higher-grade characteristics could offer attractive processing economics. The proximity of these projects to Crawford and existing infrastructure could provide operational synergies and reduced development costs.

For investors in Canada Nickel, these results support the company's thesis that the Timmins Nickel District represents a significant nickel endowment with potential to rival established mining districts. The combination of advancing Crawford toward construction while building a substantial resource inventory across multiple deposits positions the company for potential multi-decade development in the region.

The announcement comes at a time when nickel demand is expected to grow significantly due to electric vehicle battery requirements and energy transition initiatives, potentially supporting long-term commodity price fundamentals. However, investors should note that these remain early-stage resources requiring further technical work, permitting, and financing before potential production.