Canada Nickel's Deloro Drilling Expands Mineralized Footprint, Sets Stage for July Resource Estimate

• Canada Nickel's Deloro drilling increases mineralized footprint by 50%, now 1.2 km long and up to 700 m wide
• Significant drill intercepts including 0.26% nickel over 431 m and 0.27% nickel over 293 m
• Shallow overburden averaging less than 9 m thick, close to infrastructure
• The company's initial resource estimate for Deloro is expected to be released in July 2024
• Canada Nickel advancing next-generation nickel-sulphide projects for EV and stainless steel markets

About Canada Nickel

Canada Nickel Company Inc. (TSXV:CNC) is a mineral exploration company focused on advancing the next generation of nickel-sulphide projects to deliver the nickel required for the rapidly growing electric vehicle and stainless steel markets. The company's flagship project is the 100% owned Crawford Nickel-Cobalt Sulphide Project, located in the prolific Timmins-Cochrane mining camp in Ontario, Canada. Canada Nickel is also pursuing the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products, having applied to trademark the terms NetZero Nickel™, NetZero Cobalt™, and NetZero Iron™ in multiple jurisdictions.

Deloro Drilling Highlights

Canada Nickel recently completed its 2024 drilling program at the Deloro property, located just 8 km south of Timmins, Ontario. The drilling successfully expanded the mineralized footprint at Deloro by 50%, with the ultramafic body now measuring 1.2 km long and up to 700 m wide. Notably, the mineralization is relatively shallow, with overburden averaging less than 9 m thick across all drillholes.

The 2024 drilling campaign included several impressive intercepts, such as:

• Hole DEL24-12 with 0.26% nickel over 431 m
• Hole DEL24-17 with 0.27% nickel over 293 m
• Hole DEL24-18 with 0.26% nickel over 225 m

These results demonstrate the potential for significant nickel mineralization at Deloro, which benefits from its proximity to existing infrastructure, including direct road access and powerlines less than 2 km away.

Upcoming Resource Estimate

With the successful completion of the infill drilling program, Canada Nickel has developed a geological model of the Deloro deposit and expects to release an initial resource estimate in July 2024. This will be one of seven resource estimates the company plans to complete within the next 12 months, showcasing the success of its regional exploration program.

Exploration Update

In addition to the work at Deloro, Canada Nickel currently has seven drill rigs operating across its properties. Two rigs are collecting samples for pilot plant material from the Crawford project to support downstream processing test work, while five rigs are actively exploring the Reid and Texmont properties. Once drilling is completed at these sites, the company plans to begin drilling at its Mann properties.

Commitment to Sustainable Nickel Production

As the demand for nickel continues to grow, driven by the electric vehicle and stainless steel industries, Canada Nickel is well-positioned to become a key player in the sustainable production of this critical metal. The company's commitment to developing processes for net zero carbon nickel, cobalt, and iron products aligns with the increasing focus on environmental responsibility in the mining sector.

Conclusion

Canada Nickel's successful drilling campaign at Deloro, combined with its upcoming resource estimates and ongoing exploration across multiple properties, makes the company an attractive option for investors seeking exposure to the growing nickel market. With a focus on low political risk jurisdictions and a commitment to sustainable practices, Canada Nickel is well-positioned to deliver value to shareholders as it advances its next-generation nickel-sulphide projects. Investors should keep a close eye on the company's progress, particularly the upcoming Deloro resource estimate in July 2024, as it continues to unlock the potential of its extensive nickel portfolio.