Canada Nickel Reports Highest-Grade Intervals to Date at Reid Nickel Sulphide Project

• Highest-grade intervals to date at Reid: 1.01% nickel over 4.5 meters within 0.54% nickel over 43.5 meters within 0.29% nickel over 576.6 meters.
• Results cover the first 2 of 9 holes in an infill drill program designed to advance previously identified zones into the inferred and indicated mineral resource categories.
• Reid's current resource, published January 12, 2026, contains an Indicated Resource of 0.87 billion tonnes grading 0.23% nickel and an Inferred Resource of 1.45 billion tonnes grading 0.22% nickel.
• Reid's geophysical footprint is approximately 2.5 times larger than that of the Company's flagship Crawford Nickel-Cobalt Sulphide Project.
• Canada Nickel has amended the terms of its Cochrane District property acquisition, agreeing to pay $2,400 in cash and issue 60,000 common shares, 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.

Drilling Highlights

The results from the first 2 of 9 holes in the current infill drilling program are led by an intercept of 0.29% nickel over 576.6 meters, including 0.54% nickel over 43.5 meters, including 1.01% nickel over 4.5 meters. The Company noted these represent the highest-grade intervals reported at Reid to date. A second hole returned 0.26% nickel over 801.4 meters.

The 9-hole drill program is designed to infill previous drill sections and to advance previously identified potential zones into the inferred and indicated mineral resource categories. Reid is a serpentinized ultramafic body consisting mainly of dunite with minor peridotite, and its geophysical footprint is approximately 2.5 times larger than that of the Company's flagship Crawford Nickel-Cobalt Sulphide Project.

The current Reid Resource, published January 12, 2026, contains an Indicated Resource of 0.87 billion tonnes grading 0.23% nickel, containing 2.0 million tonnes of nickel, and an Inferred Resource of 1.45 billion tonnes grading 0.22% nickel, containing 3.2 million tonnes of nickel.

Chief Executive Officer and Director of Canada Nickel, Mark Selby, said the latest results extend beyond Reid to the Company's broader project pipeline in the region:

"As we get our first project - Crawford - through to a key federal milestone, we look forward to continuing to advance our pipeline of projects in the Timmins Nickel District. These latest higher-grade results at Reid not only underscore the potential of Reid but the broader potential of our entire Timmins Nickel District."

Property Acquisition Update

Further to the Company's news release dated May 7, 2026, which disclosed the acquisition of a 100% interest in certain mineral claims in the Cochrane District of Northern Ontario, Canada Nickel has entered into an amending agreement with the vendors to clarify the terms of the acquisition. Under the amending agreement, the Company will pay $2,400 in cash and issue 60,000 common shares to the vendors, subject to TSX Venture Exchange approval. The vendors will retain a 1.5% Net Smelter Return royalty, which the Company has the option to buy down by half for a one-time payment of $500,000.

Quality Assurance & Data Verification

Edwin Escarraga, MSc, P.Geo., a Qualified Person as defined by National Instrument 43-101, is responsible for the ongoing drilling and sampling program, including quality assurance and quality control. Core is collected in sealed trays, marked and sampled at 1.5-meter lengths, and cut with a diamond blade saw. Samples are transported directly to Actlabs Timmins, an ISO/IEC 17025-accredited lab, where precious metals are analyzed by fire assay and nickel, cobalt, sulphur, and other elements by peroxide fusion and ICP-OES analysis. Certified standards and blanks are inserted at a rate of 3 quality assurance and quality control samples per 20 core samples, forming batches of 60 samples submitted for analysis.

Stephen J. Balch, P.Geo. (ON), VP Exploration of Canada Nickel and a Qualified Person as defined by National Instrument 43-101, verified the data disclosed in the release and reviewed and approved its technical information.

Next Steps

Assay results from the remaining 7 of the 9 holes in the current infill drill program are pending. Canada Nickel is also advancing Crawford, its flagship 100% owned Nickel-Cobalt Sulphide Project, toward a key federal milestone.

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