Canada Nickel Extends Auramet Loan Facility to November 2026

Canada Nickel Company Inc. has extended the repayment date of its US$32 million loan facility with Auramet International, Inc. from August 9, 2026 to November 9, 2026. In connection with the extension, the Company will pay an extension fee of US$856,288 and grant 5,500,000 common share purchase warrants to Auramet, each exercisable for a 1-year period at $1.52 per common share, a 5% premium to the 5-day volume-weighted average price (VWAP) ending on July 27, 2026. A separate tranche of 3,500,000 warrants issued to Auramet in May 2026 at $1.81 per share will be cancelled, and the Loan Extension and Extension Warrants remain subject to TSX Venture Exchange approval.

Company Overview

Canada Nickel Company Inc. (TSXV: CNC | OTCQX: CNIKF) is advancing the next generation of nickel-sulphide projects to supply nickel for the electric vehicle and stainless steel markets. The company is anchored by its 100%-owned flagship Crawford Nickel-Cobalt Sulphide Project, located in the Timmins-Cochrane nickel district of Ontario. Canada Nickel is pursuing the development of processes to enable the production of net-zero carbon nickel, cobalt, and iron products, and has applied in multiple jurisdictions to trademark the terms NetZero Nickel, NetZero Cobalt, and NetZero Iron.

Loan Extension

Canada Nickel announced that it has extended the repayment date of the Loan, originally announced on February 6, 2026 with Auramet, from August 9, 2026 to November 9, 2026.

In connection with the extension, the Company will pay an extension fee of US$856,288 and will grant 5,500,000 Extension Warrants to Auramet. Each Extension Warrant is exercisable for a 1-year period to acquire one common share of the Company at an exercise price of $1.52, a 5% premium to the 5-day volume-weighted average price (VWAP) ending on July 27, 2026. The Loan Extension and Extension Warrants remain subject to the approval of the TSX Venture Exchange.

As part of the same arrangement, the 3,500,000 common share purchase warrants with an exercise price of $1.81 per share, previously issued to Auramet in May 2026 in connection with the first extension of the initial Loan advance, will be cancelled and rendered ineffective pursuant to the requirements of the TSX Venture Exchange.

Mark Selby, Chief Executive Officer and Director of Canada Nickel, commented on the extension:

"I am pleased with this continued support from Auramet extending the facility in-line with our current expectations on completion of various financing initiatives. We are now in the final stage of the federal permitting process and look forward to the delivery of the Minister's Decision Statement shortly as we continue to advance towards a construction decision in 2027."

About Auramet

Auramet, established in 2004, is one of the largest physical precious metals merchants in the world, having provided over $1.5 billion in term financing facilities to date. The firm offers physical metals trading, metals merchant banking (including direct lending), and project finance advisory services to participants across the precious metals supply chain.

Next Steps

Canada Nickel is in the final stage of the federal permitting process for the Crawford Nickel-Cobalt Sulphide Project and expects the delivery of the Minister's Decision Statement in the near term. The Company continues to advance towards a construction decision in 2027, with the newly extended Loan facility, now due November 9, 2026, providing additional runway as it works through its various financing initiatives ahead of that decision.