Canada Nickel Achieves Best Drill Results to Date at Reid

Highlights

Best Reid interval to date – 661 metres of 0.29% nickel including 100 metres of 0.42% nickel and 40 metres of 0.51% nickel in REI-24-35
All 8 holes targeting Reid Central Core intersected core lengths greater than 620 metres with average grades of 0.21% to 0.29% nickel

Canada Nickel Company Inc. (" Canada Nickel " or the " Company ") (TSXV: CNC) (OTCQX: CNIKF) is pleased to announce positive assay results from its ongoing 2024 exploration program at its Reid property, located 37 kilometres northwest of Timmins, Ontario .

All 34 holes drilled this year at Reid have intersected long intervals of targeted mineralized dunite and minor peridotite. Complete assay results for 18 holes have been received, 13 of which are announced today with assay results for the remaining holes pending. Assay results for five holes were previously released on March 18 and May 6, 2024 .

Mark Selby , CEO of Canada Nickel said, "Reid continues to deliver excellent results, including the best individual hole to date with long core lengths grading in excess of 0.4% and 0.5% nickel and all holes delivering large intervals of target mineralization. With a target geophysical footprint larger than our flagship Crawford project and a width in the central core more than double Crawford, we look forward to the initial resource estimate for Reid expected to be released in the fourth quarter of 2024."

Mr. Selby continued, "The ongoing success of our regional exploration program clearly demonstrates the potential scale of the Timmins Nickel District. We now have seven drill rigs drilling five separate targets – Reaume, Reid, Mann Central, Mann Northwest-SE, and Mann Northwest-NE – which are in addition to the two properties where we have already published a resource. Few companies have more than one project resource and we remain on-track and expect to deliver seven additional resources by this time next year."

Reid Property

The Reid Property is located just 16 km southwest of Crawford and contains a geophysical target of 3.9 km ² , which is nearly 2.4 times larger than Crawford (see Figure 1). The Company expects to complete the first phase of drilling later in August and to produce an initial resource at Reid in Q4 2024. The remaining drillhole assays will be released once they have been received.

Hole REI24-35 was collared near the very center of the ultramafic body and drilled south. The full interval of 661.5 metres, beginning at 40.5 metres downhole, assayed 0.29% nickel including 100.5 metres of 0.42% nickel, and 40.5 metres of 0.51% nickel, ending the hole in strong mineralization. In this area the ultramafic sequence opens to the north and is more than 900 metres wide, roughly twice the width of Crawford's Main Zone. Hole REI24-27 was collared near the west border of the ultramafic body and drilled north. The full interval of 674.8 metres, beginning at 27.2 metres downhole, assayed 0.27% nickel including 34.5 metres of 0.30% nickel. In this area the ultramafic sequence is more than 800 metres thick, nearly twice that of Crawford's main zone. Holes REI24-27, REI24-28, REI24-29, REI24-30, REI24-31, REI24-32, REI24-35, REI24-37, REI24-38 were drilled to continue to infill the Central Core area of the deposit with an approximate width of 900 metres and strike length of 1.7 kilometres.

The drilling campaign has identified a NNW-SSE trending corridor of dykes running through the center of the deposit which is approximately 150 metres wide, less than 7% of the overall strike length of 2.2 kilometres in the central core. Holes REI24-23, REI24-24, REI24-25, REI24-26 were drilled to identify the extent of mineralization within the local dunite, and better define the structural controls and extent of the dykes.

Table 1 – Reid drilling downhole composite.


Hole ID	From (m)	To (m)	Length (m)*	Ni %	Co %	Pd g/t	Pt g/t	Cr %	Fe %	S %
Central Core
REI24-27	27.2	702.0	674.8	0.27	0.012	0.013	0.008	0.67	5.62	0.076
including	60.0	94.5	34.5	0.30	0.013	0.024	0.007	0.66	5.76	0.110
REI24-28	18.6	705.0	686.4	0.26	0.012	0.010	0.006	0.84	5.90	0.023
including	235.5	250.5	15.0	0.30	0.012	0.006	0.008	0.87	5.46	0.025
REI24-29	54.0	568.6	514.6	0.23	0.010	0.011	0.008	0.63	6.59	0.028
and	642.6	696.0	53.4	0.24	0.014	0.017	0.011	0.85	7.46	0.026
REI24-30	30.0	702.0	672.0	0.24	0.013	0.014	0.010	0.70	6.79	0.060
including	633.0	640.5	7.5	0.42	0.018	0.080	0.040	0.63	8.13	0.288
and	664.5	673.5	9.0	0.37	0.019	0.071	0.046	0.51	8.75	0.275
REI24-31	28.0	648.4	620.4	0.22	0.013	0.013	0.009	0.61	6.85	0.072
including	31.5	340.5	309.0	0.27	0.012	0.010	0.006	0.71	6.11	0.074
including	39.0	52.0	13.0	0.41	0.014	0.026	0.014	0.69	5.68	0.075
and	279.0	306.0	27.0	0.29	0.014	0.016	0.005	0.68	7.61	0.131
REI24-32	21.0	696.0	675.0	0.21	0.012	0.008	0.007	0.71	6.43	0.034
including	166.5	421.5	255.0	0.25	0.011	0.005	0.004	0.89	5.57	0.038
REI24-35	40.5	702.0	661.5	0.29	0.012	0.018	0.013	0.69	5.67	0.052
including	340.5	361.5	21.5	0.34	0.013	0.221	0.094	0.66	5.85	0.074
and	601.5	702.0	100.5	0.42	0.015	0.035	0.019	0.59	6.26	0.123
including	645.0	685.5	40.5	0.51	0.015	0.040	0.023	0.59	6.21	0.149
REI24-37	42.2	697.5	655.3	0.24	0.013	0.012	0.009	0.57	6.28	0.032
including	42.2	312.0	269.8	0.27	0.013	0.023	0.018	0.60	6.19	0.029
including	202.5	219.0	16.5	0.41	0.015	0.241	0.146	0.49	7.16	0.093
REI24-38	27.0	702.0	675.0	0.22	0.012	0.024	0.018	0.63	6.55	0.045
including	238.0	550.5	312.5	0.26	0.012	0.048	0.035	0.69	6.04	0.056
including	301.5	327.0	25.5	0.32	0.012	0.009	0.006	0.78	5.97	0.078
and	510.0	540	30	0.33	0.012	0.174	0.229	0.74	6.16	0.103
Central Dyke Corridor
REI24-23	24.0	303.0	279.0	0.18	0.014	0.010	0.012	0.53	7.82	0.016
and	343.8	564.0	220.2	0.25	0.013	0.010	0.006	0.77	7.47	0.038
REI24-24	78.9	94.9	16.0	0.27	0.012	0.067	0.024	0.68	5.89	0.098
and	174.1	247.2	73.1	0.25	0.012	0.006	0.005	0.83	5.61	0.036
and	260.0	627.0	367.0	0.24	0.011	0.004	0.007	0.85	5.79	0.063
and	674.0	705.0	31.0	0.19	0.012	0.003	0.006	0.55	7.32	0.028
REI24-25	28.0	312.0	284.0	0.18	0.013	0.009	0.011	0.58	7.64	0.035
and	322.7	717.0	394.3	0.23	0.012	0.008	0.007	0.78	6.13	0.034
REI24-26	30.6	106.5	75.9	0.27	0.011	0.016	0.013	0.77	5.47	0.034
and	122.9	280.0	157.1	0.20	0.013	0.050	0.018	0.56	7.65	0.033
and	321.4	488.5	167.1	0.20	0.014	0.024	0.016	0.50	8.25	0.032

*True width undetermined. All lengths are drillhole lengths.

Table 2: Drillhole Orientation

Hole ID	Easting (mE)	Northing (mN)	Azimuth (⁰)	Dip (⁰)	Length (m)
REI24-23	456758	5404333	135	-55	564
REI24-24	457157	5404317	0	-60	705
REI24-25	457345	5404725	180	-60	717
REI24-26	457350	5404200	258	-50	528
REI24-27	456165	5403790	0	-60	702
REI24-28	456960	5404500	180	-70	705
REI24-29	457555	5403900	0	-55	696
REI24-30	457350	5404450	180	-60	702
REI24-31	456365	5404000	0	-60	648
REI24-32	456960	5404500	315	-60	705
REI24-35	456960	5404100	180	-60	702
REI24-37	457765	5404100	180	-60	697
REI24-38	456365	5403800	180	-60	702

Statement Regarding TSX Venture

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Quality Assurance and Control, Drilling and Assaying

Edwin Escarraga , MSc, P.Geo., a "qualified person" as defined by National Instrument 43-101, is responsible for the on-going drilling and sampling program, including quality assurance (QA) and quality control (QC). The core is collected from the drill in sealed core trays and transported to the core logging facility. The core is marked and sampled at 1.5 metre lengths and cut with a diamond blade saw. One set of samples is transported in secured bags directly from the Canada Nickel core shack to Actlabs Timmins, while a second set of samples is securely shipped to SGS Lakefield for preparation, with analysis performed at SGS Burnaby or SGS Callao ( Peru ). All are ISO/IEC 17025 accredited labs. Analysis for precious metals (gold, platinum and palladium) are completed by Fire Assay while analysis for nickel, cobalt, sulphur and other elements are performed using a peroxide fusion and ICP-OES analysis. Certified standards and blanks are inserted at a rate of 3 QA/QC samples per 20 core samples making a batch of 60 samples that are submitted for analysis.

Qualified Person and Data Verification

Stephen J. Balch P.Geo . (ON), VP Exploration of Canada Nickel and a "qualified person" as such term is defined by National Instrument 43-101, has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Canada Nickel Company Inc.

About Canada Nickel Company

Canada Nickel Company Inc. is advancing the next generation of nickel-sulphide projects to deliver nickel required to feed the high growth electric vehicle and stainless steel markets. Canada Nickel Company has applied in multiple jurisdictions to trademark the terms NetZero Nickel ^TM , NetZero Cobalt ^TM , NetZero Iron ^TM and is pursuing the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Canada Nickel provides investors with leverage to nickel in low political risk jurisdictions. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp. For more information, please visit www.canadanickel.com.

For further information, please contact:

Mark Selby
CEO
Phone: 647-256-1954
Email: info@canadanickel.com

Cautionary Statement Concerning Forward-Looking Statements

This press release contains certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward looking information includes, but is not limited to, drill and exploration results relating to the target properties described herein (the "Properties"), the significance of drill results, the ability to continue drilling, the impact of drilling on the definition of any resource, the potential of the Crawford Nickel Sulphide Project and the Properties, timing and completion (if at all) of mineral resource estimates, the ability to sell marketable materials, strategic plans, including future exploration and development plans and results, and corporate and technical objectives. Forward-looking information is necessarily based upon several assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Factors that could affect the outcome include, among others: future prices and the supply of metals, the future demand for metals, the results of drilling, inability to raise the money necessary to incur the expenditures required to retain and advance the property, environmental liabilities (known and unknown), general business, economic, competitive, political and social uncertainties, results of exploration programs, risks of the mining industry, delays in obtaining governmental approvals, failure to obtain regulatory or shareholder approvals, and the impact of COVID-19 related disruptions in relation to the Company's business operations including upon its employees, suppliers, facilities and other stakeholders. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. Canada Nickel disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, except as required by law.

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SOURCE Canada Nickel Company Inc.

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Canada Nickel Announces Results from Crawford PGM Zone Infill Drilling Campaign

Highlights

Successful infill drilling campaign targeted PGM Zones at Crawford with 45 holes intersecting drill intervals of > 1g/t palladium + platinum
Results include:
- 2.19 g/t palladium + platinum over core length of 76.5 metres in Crawford Main Zone including 3.90 g/t over core length of 13.5 metres
- 1.15 g/t palladium + platinum over 38.5 metres in Crawford East Zone including 2.94 g/t over core length of 4.5 metres
PGM results will be included in development of a Crawford PGM Zone resource estimate and incorporated into the Crawford nickel mine plan

Canada Nickel Company Inc. (" Canada Nickel " or the " Company ") (TSXV: CNC) (OTCQX: CNIKF) today announced additional results from its drilling program targeting the PGM zones that occur along the Crawford Main and East Zone boundaries and within the existing mine plan outlined in the Crawford Nickel Project feasibility study.

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Canada Nickel Closes Previously Announced US$15 Million Loan Facility with Auramet International, Inc.

Canada Nickel Company Inc. (" Canada Nickel " or the " Company ") (TSXV: CNC) (OTCQX: CNIKF) today announced that it has closed a secured loan facility with Auramet International, Inc. ("Auramet") of US$15 million previously announced on June 24, 2024 .

The loan is due January 9, 2025 , carries an interest rate of 1.00% per month, and is subject to a 2.5% arrangement fee. At closing, Auramet also received 750,000 1-year warrants with a strike price of $1.42 per common share. The loan is subject to such terms and conditions including certain specified positive and negative covenants that are customary for a transaction of this nature. The warrants and the underlying shares are subject to a four month hold period under applicable Canadian securities laws. The Company expects to use the proceeds from the loan for working capital purposes.

About Auramet

Auramet is one of the largest physical precious metals merchants in the world with over US$20 billion in annual revenues and which provides a full range of services to all participants in the precious metals supply chain. Auramet is a private company established in 2004 by seasoned professionals who have assembled a global team of industry specialists with over 350 years combined industry experience. Their business consists of three main activities: physical metals trading, metals merchant banking (including direct lending) and project finance advisory services. The company has built a consistently successful and prominent franchise in the metals space on the back of an experienced management team that has proven to be innovative and capable of delivering the highest quality service to participants in the sector. In fiscal year 2023 it purchased over 7 million ounces of gold, 126 million ounces of silver and 3 million ounces of PGMs, and has provided term financing facilities in excess of US$1 billion to date. Auramet is looking to grow its capital investment business in equity, royalties and streams in the precious metals and battery related metals mining space. Auramet is proud to have been awarded a Gold Medal the past two years for its ESG commitment by EcoVadis, the most trusted provider of ESG ratings with a network of more than 90,000 rated companies. For more information on Auramet, please visit www.auramet.com .

About Canada Nickel Company

Canada Nickel Company Inc. is advancing the next generation of nickel-sulphide projects to deliver nickel required to feed the high growth electric vehicle and stainless steel markets. Canada Nickel Company has applied in multiple jurisdictions to trademark the terms NetZero Nickel™, NetZero Cobalt™, NetZero Iron™ and is pursuing the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Canada Nickel provides investors with leverage to nickel in low political risk jurisdictions. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins - Cochrane mining camp. For more information, please visit www.canadanickel.com .

For further information, please contact:

Mark Selby
CEO
Phone: 647-256-1954
Email: info@canadanickel.com

Cautionary Statement Concerning Forward-Looking Statements

This press release contains certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward looking information includes, but is not limited to, the use of proceeds from the loan, the ability of the Company to deliver nickel required to feed the high growth electric vehicle and stainless steel markets, and the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Readers should not place undue reliance on forward looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Canada Nickel to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. There are no assurances that Crawford will be placed into production. Factors that could affect the outcome include, among others: inability to repay the loan or comply with the covenants set out in the loan agreement; the actual results of development activities; project delays; inability to raise the funds necessary to complete development; general business, economic, competitive, political and social uncertainties; future prices of metals or project costs could differ substantially and make any commercialization uneconomic; availability of alternative nickel sources or substitutes; actual nickel recovery; conclusions of economic evaluations; changes in applicable laws; changes in project parameters as plans continue to be refined; accidents, labour disputes, the availability and productivity of skilled labour and other risks of the mining industry; political instability, terrorism, insurrection or war; delays in obtaining governmental approvals, necessary permitting or in the completion of development or construction activities; mineral resource estimates relating to Crawford could prove to be inaccurate for any reason whatsoever; additional but currently unforeseen work may be required to advance to the feasibility stage; and even if Crawford goes into production, there is no assurance that operations will be profitable. Although Canada Nickel has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and Canada Nickel disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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SOURCE Canada Nickel Company Inc.

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Bold Ventures Provides Update on Field Work at Burchell Property

Bold Ventures Inc. (TSXV: BOL) (the "Company" or "Bold") is pleased to provide an update on the progress of field work at its Burchell Gold and Copper Property, located approximately 100 km west of Thunder Bay.

Prospecting, outcrop mapping and soil sampling were carried out during the months of May and June on a 1 km by 800 m flagged grid centered on the recently discovered 111 Zone, where grab samples returned between 10 ppb gold and 68 g/t gold last December (see news releases dated December 12, 2024 and January 9, 2025). More than 600 rock and soil samples have been submitted for analysis from this first phase of field work, with final results pending.

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Juggernaut Announces Financing Of $1,000,000 From One Strategic Investor

(TheNewswire)

Vancouver, British Columbia July 3 rd 2025 TheNewswire - Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the "Company" or "Juggernaut"), is pleased to announce a $1,000,000 hard dollar financing from one strategic investor, further confirming the support and excitement of the newly discovered 11 km Highway of Gold surrounding the Eldorado porphyry system on the Big One property. The discovery is in an area of glacial and snowpack abatement next door to the gold-rich porphyry systems at Newmont Mining's Galore Creek. The Big One Property is a discovery previously announced Jan 20 th (Click Link) with assays up to 79.01 gt gold (2.54 ozt gold) and 3157.89 gt silver (101.5 ozt silver) from over 200 gold-silver-copper rich polymetallic veins up to 8 m wide and striking for up to 500 m that all remain open at surface. The Big One Project covers 33,693 hectares in a globally ranked tier 1 jurisdiction with tremendous additional discovery potential in the heart of the Golden Triangle, British Columbia.

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Anteros Returns High-Grade Lead-Zinc-Silver in Surface Samples from the MMZ at its Havens Steady VMS Property, Newfoundland

Anteros Metals Inc. (CSE: ANT) ("Anteros" or the "Company") is pleased to announce assay results from six grab samples collected at the Main Mineralized Zone ("MMZ") of its wholly-owned, road-accessible Havens Steady VMS Property ("Havens Steady" or the "Property") in central Newfoundland. These samples confirm high-grade lead-zinc-silver mineralization at surface and show associated gold and copper enrichment consistent with a polymetallic volcanogenic massive sulphide ("VMS") system.

The grab samples were collected during a recent field visit, focused on confirming the tenor and extent of exposed mineralization within the MMZ. All samples were collected from bedrock outcroppings of gossanous surface material. Surface grab sample highlights are given in Table 1, below.

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Hole ID	Easting (mE)	Northing (mN)	Azimuth (⁰)	Dip (⁰)	Length (m)
CR24-345	473300	5409950	356	-60	402
CR24-344	473205	5409985	0	-90	366
CR24-342	473373	5410260	170	-45	397
CR24-341	473833	5408690	0	-75	540
CR24-340	473278	5410290	173	-42	462
CR24-338	473610	5409950	0	-70	252
CR24-336	473827	5409967	0	-78	270
CR24-335	473950	5410000	0	-50	201
CR24-334A	473681	5408782	12	-70	372
CR24-333	474215	5409965	340	-77	236
CR24-332	474180	5410015	0	-72	252
CR24-331	473555	5408774	15	-74	501
CR24-330	474350	5409905	320	-80	450
CR24-329	473265	5408895	45	-70	450
CR24-328	474460	5409970	335	-55	231
CR24-327	473265	5408895	14	-66	351
CR24-326	474515	5409895	0	-80	273
CR24-325	474600	5409925	0	-80	201
CR24-324	472837	5409083	35	-55	351
CR24-323	474600	5409925	0	-50	261
CR24-322	474715	5409905	0	-80	306
CR24-321	474770	5409965	5	-75	300
CR24-320	474820	5409900	0	-80	270
CR24-319	474915	5409940	5	-84	171
CR24-318	474915	5409940	5	-50	204
CR24-317	475120	5409900	0	-80	300
CR24-316	475120	5409900	0	-50	207
CR24-315	473682	5410225	172	-54	399
CR22-298	473564	5410008	0	-55	252
CR22-296	473374	5409984	2	-70	201
CR22-295	473374	5409984	2	-50	282
CR22-294	475434	5409927	0	-70	192
CR22-291	475204	5409922	10	-50	210
CR22-288	474805	5409925	2	-70	171
CR22-287	474806	5409923	4	-50	252
CR22-286	474705	5409932	2	-70	180
CR22-285	474705	5409932	2	-50	252
CR22-284	474504	5409940	2	-50	261
CR22-283	474504	5409939	2	-75	222
CR22-282	474303	5409955	2	-75	222
CR22-281	474303	5409956	2	-50	252
CR22-272	473764	5408865	172	-82	651
CR22-267	474606	5410009	180	-75	650
CR22-265	474403	5410013	180	-75	577
CR22-257	473644	5408751	355	-45	354

Mineral Resource Estimate										Contained Metal
DOMAIN	CLASS	TONNES (Mt)	Ni (%)	Co (%)	Fe (%)	Cr (%)	S (%)	Pd (g/t)	Pt (g/t)	Ni (kt)	Co (kt)	Fe (Mt)	Cr (kt)	S (kt)	Pd (koz)	Pt (koz)
MAIN	Indicated	81.3	0.25	0.011	5.2	0.24	0.056	0.0029	0.0045	201.8	8.6	4.2	193.6	45.6	7.7	11.8
MAIN	Inferred	357.5	0.25	0.011	5.2	0.23	0.063	0.0040	0.0053	885.4	38.0	18.6	835.4	224.9	45.7	60.6

1.	The independent Qualified Person for the Mineral Resource Estimate, as defined by NI 43-101, is Dr. Scott Jobin-Bevans (P.Geo., PGO #0183), of Caracle Creek International Consulting Inc. The effective date of the Mineral Resource Estimate is July 15, 2024.
2.	The quantity and grade of reported Inferred Resources in this Mineral Resource Estimate are uncertain in nature and there has been insufficient exploration to define these Inferred Resources as Indicated or Measured. However, it is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
3.	A cut-off grade of 0.10% Ni was used for the Main Domain (combined high- and low-grade estimated domains). Cut-offs were determined on the basis of core assay geostatistics and drill core lithologies for the deposit, and by comparison to analogous deposit types.
4.	Geological and block models for the Mineral Resource Estimate used data from a total of 22 surface drill holes, completed by CNC in 2022-2024. The drill hole database was validated prior to resource estimation and QA/QC checks were made using industry-standard control charts for blanks, core duplicates and commercial certified reference material inserted into assay batches by CNC and by comparison of umpire assays performed at a second laboratory.
5.	Estimates have been rounded to two significant figures.
6.	The Mineral Resource Estimate was prepared following the CIM Estimation of Mineral Resources & Mineral Reserves Best Practice Guidelines (November 29, 2019) and the CIM Definition Standards for Mineral Resources & Mineral Reserves (May 19, 2014).
7.	The geological model as applied to the Mineral Resource Estimate comprises three mineralized domains hosted by variably serpentinized ultramafic rocks: a relatively higher-grade core (dunite) and two, western and eastern, lower-grade envelopes (peridotite). Individual wireframes were created for each domain in Leapfrog Geo 2023.2.3 software.
8.	A 20 m x 20 m x 15 m block model was created, and samples were composited at 7.5 m intervals. Grade estimation from drill hole data was carried out for Ni, Co, Fe, Cr, S, Pd and Pt using the Ordinary Kriging interpolation method in Isatis 2024.04 software.
9.	The mineral resource estimates have been revised to include a conceptual pit envelope constraint that was developed using the following optimization parameters. Metal prices used were US$21,000/t nickel, US$40,000/t cobalt, US$325/t magnetite, US$1,350/oz palladium, and US$1,150/oz platinum. Different pit slopes were used for each layer (in degrees): 9.5 in clay, 11.6 in sand, and 45.0 in rock. Exchange rate utilized was US$/C$ at $0.75. Mining costs utilized different values for overburden (clay, gravel), selective mining, and bulk mining, ranging from C$1.62 to C$3.28/t mined. Processing costs and general and administration costs for a 60 ktpd operation (similar to the initial stage of Crawford) were C$8.40/t. Based on the range of grade and ratio of sulphur to nickel, calculated recovery averages 49% for Ni, 56% for Fe, 5% for Co and 21% for Pt and Pd.
10.	Grade estimation was validated by comparison of input and output statistics (Nearest Neighbour and Inverse Distance Squared methods), swath plot analysis, cross-plots of declustered samples against the nearest OK estimate, and by visual inspection of the assay data, block model, and grade shells in cross-sections.
11.	Density estimation was carried out for the mineralized domains using the Ordinary Kriging interpolation method, on the basis of 954 specific gravity measurements collected during the core logging process, using the same block model parameters of the grade estimation. As a reference, the average estimated density value within dunite is 2.62 g/cm ³ (t/m ³ ), while peridotite domains yielded averages of 2.69 g/cm ³ (t/m ³ ) in the west and 2.75 g/cm ³ (t/m ³ ) in the east.

Sample ID	Pb (%)	Zn (%)	Cu (%)	Ag (g/t)	Au (g/t)
HS-25-004	1.56	9.60	0.15	45.0	0.366
HS-25-003	0.46	1.66	0.22	38.4	0.513
HS-25-006	0.06	0.40	0.30	26.1	0.568
HS-25-005	0.30	0.85	0.11	19.0	0.238
HS-25-001	0.10	0.07	0.04	5.5	0.043

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	Head Grades (%)			Recovery (%)				Concentrate Grades (%)
	Head Grades (%)			Recovery (%)				Ni Conc.		NiCr Conc.
	Ni	S	Fe	Ni	Co	Fe	Cr	Ni	Co	Fe	Cr	Ni
Actual	0.29	0.04	5.1	47	1	57	31	60	0.10	55	4.2	0.62
Modelled	-	-	-	43	4	58	28	40	0.23	55	3.7	0.72
Difference	-	-	-	+4	-3	-1	+3	+20	-0.13	0	+0.5	-0.10

	Head Grades (%)			Total Recoveries (%)				Recovery Performance (%) Actual - Modelled
	Head Grades (%)			Total Recoveries (%)				Recovery Performance (%) Actual - Modelled
Sample ID	Ni	S	Fe	Ni	Co	Fe	Cr	Ni	Co	Fe	Cr
CNS-001	0.17	0.03	6.9	55	1.5	60	14	17	-3	-3	-19
CNS-002	0.27	0.04	5.6	54	4.9	52	34	10	1	-4	5
CNS-003	0.26	0.01	5.3	23	0.5	44	28	-4.6	-4	-12	-1
CNS-005	0.27	0.09	5.7	71	5.2	49	28	14	-5	-3	0
CNS-006	0.30	0.05	5.5	67	4.7	61	35	17	1	6	6
CNS-007	0.28	0.04	5.5	43	0.7	59	32	-0.3	-3	4	4
CNS-008	0.18	0.01	7.5	36	1.1	55	31	7.9	-3	-8	0
CNS-009	0.27	0.01	5.2	33	2.0	47	29	5.0	-2	-16	-2
CNS-010	0.20	0.02	7.7	42	0.7	63	37	10	-3	3	8
CNS-011	0.16	0.03	7.4	60	1.5	61	20	23	-3	-1	-13
Average	0.23	0.03	6.2	48	2.3	55	29	10	-2	-3	-1