First Nations Capital Moves Onto Crawford's 2027 Build Schedule at Canada Nickel

• Canada Nickel's 2025 Environmental, Social, and Governance Report, released October 6, 2026, records the finalization of a $20 million equity investment from Taykwa Tagamou Nation (TTN), with a seat on the board of directors.
• A contracting agreement with Matachewan, Mattagami and Flying Post First Nations, through Wabun Tribal Council, covers Indigenous participation in Crawford infrastructure and construction activities.
• Crawford received its federal Decision Statement in July 2026, the first mining approval under Canada's amended Impact Assessment Act since 2019. The provincial and federal permits required for construction are targeted for the third quarter of 2027.
• TTN is targeting fleet financing in the first quarter of 2027, paired with definitive agreements for a mining fleet from Komatsu and SMS Equipment, both selected in September 2026.
• Canada Nickel is targeting a Final Investment Decision (FID) in the third quarter of 2027 and first production in the fourth quarter of 2029.

Canada Nickel Company Inc. (TSXV: CNC | OTCQB: CNIKF) has 2 First Nations arrangements at the Crawford Nickel Sulfide Project in Timmins, Ontario, with a third scheduled for 2027. Its 2025 Environmental, Social, and Governance (ESG) Report covers January 1 to December 31, 2025. It records the finalization of a $20 million equity investment from Taykwa Tagamou Nation (TTN) and a contracting agreement with 3 First Nations through Wabun Tribal Council. TTN is targeting fleet financing for the first quarter of 2027, ahead of a Final Investment Decision (FID) targeted for the third quarter. The path from federal approval to a construction start now depends on converting those partnerships, and the company's identified financing sources, into an executable build plan.

What the 2025 Report Records

The TTN equity investment finalized in 2025 and included a seat on the board of directors. At signing, it was one of the largest direct investments by a First Nation in a Canadian critical minerals project. TTN's stake is 6.1% on conversion of its equity participation agreement. It appears on the strategic register alongside Agnico Eagle, Samsung SDI and Anglo American.

The second agreement brings in Matachewan First Nation, Mattagami First Nation and Flying Post First Nation through Wabun Tribal Council. It creates opportunities for Indigenous participation in Crawford infrastructure and construction activities. Construction is targeted to start in the fourth quarter of 2027.

The report also logs 2 government designations. Crawford referred the project to the federal Major Projects Office in 2025 and designated it under Ontario's One Project, One Process framework in January 2026. The company describes both as designed to reduce permitting timelines and execution risk.

Engagement Inside the Federal Approval

Crawford received its federal Decision Statement in July 2026, the first mining approval under Canada's amended Impact Assessment Act since 2019. The 2019 law is broader in its social and First Nations engagement requirements, and the Crawford filing ran to more than 20,000 pages. The review took 4 years from start to finish.

Chief Executive Officer of Canada Nickel, Mark Selby, tied the partnerships to how the project itself is planned:

"Developing Crawford in partnership with Indigenous Nations and local communities helps ensure that sustainability, environmental protection and project planning reflect local knowledge, priorities and values."

The Decision Statement concluded the federal impact assessment, but it is not the final approval before construction. Canada Nickel is targeting the provincial and federal permits required for construction in the third quarter of 2027, the same quarter as the FID. Canada Nickel targets the provincial permits required for operation in the second quarter of 2029.

Crawford's 2027 Sequence & Where First Nations Partners Fit

Crawford holds 3.8 million tonnes of contained nickel in proven and probable reserves, second globally behind Norilsk in Russia on that basis, over a 41-year mine life. Canada Nickel plans it as the Western world's largest nickel sulfide operation by annual production. The company has outlined a US$2.5 billion funding plan split 40% equity and 60% debt. Identified sources include government tax credits and programs, a Samsung SDI offtake option, and Canadian agency debt.

Canada Nickel's first-quarter 2027 targets are an investment tax credit facility, the full financing package, and definitive agreements for the mining fleet together with TTN fleet financing. Komatsu and SMS Equipment were selected for the fleet in September 2026. Canada Nickel pairs TTN fleet financing with definitive fleet agreements, and it is not included in the layers of the US$2.5 billion plan. TTN brings existing partnerships with Agnico Eagle, Ontario Power Generation, and Hydro One, covering Indigenous contracting, ownership, and equity in energy and resource projects. Canada Nickel signed a grid connection engineering agreement with Hydro One in March 2026.

Crawford's next test is whether its completed First Nations agreements can be carried into construction while Canada Nickel secures the financing and remaining approvals required for the FID. The TTN equity, the board seat and the Wabun contracting agreement are done. TTN fleet financing, the financing package, and the construction permits are still targets. The company held C$ 29 million in cash against C$ 61 million in debt as of July 31, 2026, pro forma for a $21 million private placement completed in August 2026. Its market capitalization stood at C$336 million.

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