Regional Exploration Success Bolsters Canada Nickel's District-Scale Vision

• Reid property drilling continues to deliver strong results with 643m of 0.26% nickel in REI24-43, targeting initial resource by end of 2024
• Mann West shows promising results with 330m of 0.26% nickel in MAN24-58, including zones of higher-grade mineralization
• Significant gold discoveries at Mann North, including 4.5m of 2.36 g/t gold within a broader 45m zone of 0.45 g/t gold
• Over 100,000 meters of drilling completed across 14 regional properties in 2024
• Multiple properties advancing toward initial resource estimates, expanding the company's resource portfolio beyond Crawford

About Canada Nickel

Canada Nickel Company (TSXV: CNC) (OTCQX: CNIKF) is positioning itself as a leader in the next generation of nickel-sulfide projects, focused on meeting the growing demand from both the electric vehicle and stainless steel markets. The company's flagship Crawford Nickel-Cobalt Sulfide Project, located in the heart of the Timmins-Cochrane mining camp, anchors a broader regional exploration portfolio. Canada Nickel distinguishes itself through its commitment to net-zero mining, having trademarked terms like NetZero Nickel™, NetZero Cobalt™, and NetZero Iron™, demonstrating its dedication to sustainable resource development in low political risk jurisdictions.

Regional Exploration Program Update

Canada Nickel's ambitious regional exploration program is delivering impressive results across multiple properties, showcasing the potential of what the company calls the "Timmins Nickel District." The program has achieved a significant milestone with over 100,000 meters of drilling completed across 14 properties in 2024, all situated within 100 kilometers of Timmins, Ontario.

Reid Property Developments

The Reid property, located just 16 kilometers southwest of Crawford, continues to demonstrate its potential as a significant nickel resource. With a geophysical target spanning 3.9 square kilometers – nearly 2.4 times larger than Crawford – the property has seen extensive drilling activity in 2024. The company has completed 26,061 meters across 41 holes during this year's program. Notably, hole REI24-43 intercepted a total of 643 meters of 0.26% nickel, demonstrating the substantial scale of mineralization. The company remains on track to deliver an initial resource estimate for Reid before the end of 2024.

Mann Property Complex

The Mann property, situated 22 kilometers east of Crawford, has emerged as a multi-faceted exploration success story with three distinct areas showing promising results:

Mann West

The Mann West target has exceeded expectations with recent drilling results, including a standout intersection of 330 meters of 0.26% nickel in hole MAN24-58. The target area covers approximately 3.4 square kilometers, with drilling completed over a strike length of 1.7 kilometers. The company has completed 40 holes to date and is progressing toward an initial resource estimate expected by Q1 2025.

Mann Central

Drilling at Mann Central has defined mineralization over a 1.9-kilometer strike length, with consistent mineralization identified in the center of the target. The program has yielded multiple well-mineralized intervals across the property, including some impressive nickel grades combined with platinum group metals (PGMs).

Mann North

Perhaps the most intriguing recent development has been at Mann North, where drilling has revealed significant gold mineralization alongside the expected nickel content. Notable intersections include 45 meters of 0.45 g/t gold, including high-grade sections such as 4.5 meters of 2.36 g/t gold, adding a precious metals component to the property's value proposition.

Reaume Property Progress

The Reaume property, located 20 kilometers northeast of Crawford, has shown promising results from recent drilling, including consistent nickel mineralization and some notable PGM values. The property represents another potential resource in the company's growing portfolio of assets.

The Investment Thesis for Canada Nickel

Canada Nickel presents a compelling investment opportunity for several reasons:

• District-Scale Potential: The company's regional exploration success demonstrates the emergence of a new nickel district in one of Canada's most established mining jurisdictions. With 14 properties showing promising mineralization, the company has multiple opportunities for resource development beyond its flagship Crawford project.
• Strategic Positioning: As global demand for nickel continues to grow, driven by both the electric vehicle revolution and traditional stainless steel markets, Canada Nickel's portfolio of projects in a stable jurisdiction positions it favorably to meet this demand.
• Resource Growth Trajectory: The company is on track to deliver multiple initial resource estimates across its property portfolio, with Reid expected by the end of 2024 and Mann West by Q1 2025. This rapid resource growth potential could significantly enhance shareholder value.
• ESG Leadership: The company's commitment to net-zero mining practices, as evidenced by its trademarked NetZero initiatives, aligns with growing investor focus on sustainable resource development and could command premium valuations in the market.
• Exploration Upside: The discovery of significant gold values at Mann North demonstrates the potential for valuable by-product credits, while consistent high-grade nickel intersections across multiple properties suggest substantial resource potential beyond current expectations.

The latest exploration results from Canada Nickel's regional program validate the company's district-scale opportunity in the Timmins region. The consistent success across multiple properties, particularly at Reid and Mann, suggests the potential for several significant nickel deposits beyond the flagship Crawford project. The unexpected gold discoveries at Mann North add another dimension to the company's value proposition, while the advancement toward multiple initial resource estimates provides clear catalysts for value creation in the near term. The company's strategic position in a stable jurisdiction, combined with its commitment to sustainable mining practices, makes it well-positioned to capitalize on the growing demand for nickel in both the EV and stainless steel markets. For investors, Canada Nickel offers exposure to a rapidly advancing nickel exploration and development story with multiple avenues for value creation and strong ESG credentials.