Canada Nickel Reports Best Regional Exploration Result to Date in Midlothian with 8 New Resource Estimates by Mid-2025

• Canada Nickel's Midlothian property returned its best regional exploration result to date, with 470m of 0.31% Ni, including 13.5m of 0.41% Ni.
• All eight holes at Bannockburn yielded well-mineralized intervals, with five holes containing sections over 0.3% Ni.
• Deloro drilling intersected mineralized zones in all 11 holes, including 371m of 0.27% Ni with 39m of 0.30% Ni.
• Drilling resumed at Nesbitt near the Crawford project, with 382m of 0.22% Ni including 27m of 0.27% Ni.
• Canada Nickel plans to publish a total of eight regional resource estimates by mid-2025.

Canada Nickel Company Inc. (TSXV:CNC) is advancing the next generation of nickel-sulphide projects to deliver the nickel required for the high-growth electric vehicle and stainless steel markets. The company has applied to trademark the terms NetZero Nickel™, NetZero Cobalt™, and NetZero Iron™ in multiple jurisdictions 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-Cobalt Sulphide Project located in the prolific Timmins-Cochrane mining camp.

Midlothian Delivers Best Regional Result

The highlight from Canada Nickel's recent exploration update was the results from its Midlothian property located 70 km south-southeast of Timmins. Drillhole MID24-15 returned the company's best regional exploration intercept to date with 470 meters grading 0.31% nickel, including a higher-grade zone of 13.5 meters at 0.41% nickel.

All 12 holes drilled at Midlothian in late 2024 intersected shallow mineralized dunite across a target measuring 2.7 km long by 0.4 to 0.9 km wide, for a footprint of 1.7 km2. This already exceeds the Crawford Main Zone resource footprint of 1.5 km2. With assays pending on 2 additional holes, Canada Nickel intends to publish a maiden resource estimate for Midlothian by mid-2025.

Bannockburn Continues to Impress

At the Bannockburn property 65 km south of Timmins, all eight infill holes drilled in the B Zone bulk tonnage target yielded well-mineralized intervals across its 1.6 km by 700 meter extent. Five of the eight holes returned sections grading over 0.30% nickel. A single hole into the smaller D Zone to the northwest confirmed the mineralized ultramafic extends at least 1 km beyond the main B Zone.

Canada Nickel also noted it plans follow-up drilling this summer on the higher-grade C and F Zones after promising results there in late 2024. The combination of a large tonnage, lower grade bulk target and these higher-grade zones provides significant optionality at Bannockburn.

More Mineralization at Deloro

Deloro is a key project for Canada Nickel located just 8 km south of Timmins with excellent road access and proximity to infrastructure. The project has current resources of 81 Mt at 0.25% Ni Indicated and 357 Mt at 0.25% Ni Inferred.

Results from 11 holes of a 19-hole program drilled in late 2024 all intersected strongly mineralized ultramafic rocks. Highlights included 371.0 meters grading 0.27% nickel including a 39-meter section at 0.30% nickel in hole DEL24-28. The drilling focused on both expanding and upgrading the existing resource ahead of an anticipated resource update by mid-2025.

Drilling Resumes Near Crawford

Canada Nickel also resumed drilling at its Nesbitt property located just 7 km north-northwest of the flagship Crawford project. Nesbitt is viewed as a potential source of both aggregate for mine construction and incremental nickel ore given its proximity to Crawford and shallow overburden.

Results from seven holes drilled in late 2024 to infill the western ultramafic target were highlighted by hole NES24-13, which intersected 382.2 meters at 0.22% nickel including 27.0 meters grading 0.27% nickel. Additional infill drilling is planned in early 2025 ahead of a maiden resource estimate later in the year.

For Investors

For investors, the latest regional exploration results from Canada Nickel are very encouraging. The Midlothian intercepts rank as the best drilled outside of the flagship Crawford project and highlight the potential of that property. The Bannockburn and Deloro results should support significant resource updates at those key regional projects. And resumption of drilling near Crawford at Nesbitt could add an important source of early ore to enhance that project's economics.

Canada Nickel's planned publication of eight regional resource estimates by mid-2025, in addition to Crawford, underscores the district-scale potential of the Timmins region to be a globally significant source of the nickel needed to fuel the electric vehicle revolution. With its NetZero Nickel™ branding, Canada Nickel is positioning itself to be the supplier of choice to the growing number of automakers demanding sustainably sourced raw materials.

While permitting and funding Crawford through to production remain the key priorities, these regional exploration results highlight a pipeline of high-potential nickel sulphide projects that provide significant long-term optionality and scale potential for Canada Nickel. The next couple years will be key as Canada Nickel looks to translate these promising exploration results into sizable, economic resources.