Canada Nickel Announces Filing of Preliminary Prospectus and Provides Corporate Update

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /

Canada Nickel Company Inc. ("Canada Nickel" or the "Company ") (TSXV: CNC) (OTCQX: CNIKF) is pleased to announce that it has filed and been receipted for a preliminary short form prospectus in connection with its bought deal offering of (i) 7,462,500 common shares in the capital of the Company (the "Common Shares") at a price of $1.77 per Common Share and (ii) 1,748,300 common shares issued as "flow-through shares" (the "Flow-Through Shares") within the meaning of the Income Tax Act ( Canada ) at a price of $2.86 per Flow-Through Share, for aggregate gross proceeds to the Company of $18,208,763 (the "Offering"), as further described in the news release of the Company dated February 8, 2023 . In connection with the Offering, the Company has entered into an underwriting agreement with Scotia Capital Inc. Inc., as lead underwriter and sole bookrunner, together with a syndicate of underwriters including Red Cloud Securities Inc., Cormark Securities Inc., Echelon Wealth Partners Inc., Haywood Securities Inc., and Research Capital Corporation.

The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSX Venture Exchange and the securities regulatory authorities.

The securities offered in the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States , nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Corporate Update

The Company has adopted a new stock option plan (the "Stock Option Plan") and restricted share unit plan (the "RSU Plan", together with the Stock Option Plan, the "New Incentive Plans") which will replace the Company's current option plan and RSU plan. The number of common shares of the Company reserved for issuance under the New Incentive Plans, collectively, cannot exceed 10% of the number of common shares of the Company that are outstanding on each applicable grant date. Each of the Stock Option Plan and RSU Plan are subject to approval by the shareholders of the Company at the meeting to be held on April 6, 2023 (the "Meeting") and final TSXV approval.

The Company has granted its executives, employees and directors a total of: (i) 1,890,000 stock options, issued at an exercise price of $1.78 per share, vesting over a three-year period and expiring five years from the date of the grant, and (ii) 1,563,449 restricted share units, vesting after a one-year period. The portion of such grants made under the New Incentive Plans are subject to approval by the shareholders at the Meeting.

In addition, the Company has entered into a property option agreement with a group of vendors under which the Company has acquired an option to earn a 100% interest in 170 single cell mining claims and 23 boundary cell mining claims located in the Timmins area. The agreement provides for certain annual expenditure commitments by the Company, the issuance by the Company of up to a total of 100,000 common shares, and the payment to the vendors of a total of $90,000 over the option term to exercise the option. The vendors will retain a 2.00% NSR with a 1.00% buy-back provision to the Company for $1.0 million . The completion of the transaction is subject to customary closing conditions, including the approval of the TSX Venture Exchange. The common shares issued and issuable to the vendors will be subject to a four month hold period under applicable Canadian securities laws.

About Canada Nickel

Canada Nickel Company Inc. is advancing the next generation of nickel-cobalt sulphide projects to deliver nickel and cobalt required to feed the high growth electric vehicle and stainless-steel markets. Canada Nickel Company has successfully registered and applied for trademarks in various jurisdictions for NetZero Nickel™, NetZero Cobalt™ and 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 and cobalt 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,
Chair and 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 results relating to the Crawford Nickel Sulphide Property, the potential of the Crawford Nickel Sulphide Property, timing of economic studies and mineral resource estimates, the ability to sell marketable materials, strategic plans, including future exploration and development results, and corporate and technical objectives. Forward-looking information is necessarily based upon a number of 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 as a result of new information, future events or otherwise, except as required by law.

SOURCE Canada Nickel Company Inc.

View original content to download multimedia: https://www.newswire.ca/en/releases/archive/February2023/17/c8997.html

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Canada Nickel TSXV:CNC Base Metals Investing

CNC:CA

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 .

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

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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.

View original content to download multimedia: https://www.prnewswire.com/news-releases/canada-nickel-closes-previously-announced-us15-million-loan-facility-with-auramet-international-inc-302192435.html

SOURCE Canada Nickel Company Inc.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2024/09/c7393.html

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Vertex Minerals Limited Progress Update at High-Grade Reward Gold Mine

Perth, Australia (ABN Newswire) - Vertex Minerals Limited (ASX:VTX) (OTCMKTS:VTXXF) is pleased to announce an update on the Reward Gold mine start up, with the refurbished Gekko plant arriving this week along with a team of trades people to install and commission the plant. Further the site infrastructure has been redeveloped with a number of improvements to roads and tails line implemented.

HIGHLIGHTS

- Civils completed.

- Gekko have commenced mobilising the Gekko Gravity Gold plant from Ballarat to the Mine site.

- Recently purchased LM 90 Drill Rig has been mobilised from Kalgoorlie to the Mine site.

- Mobile fleet purchased and on site.

o Light vehicles, heavy 6wd truck, 4wd Dual cab light truck, Integrated tool carrier, underground loader, underground haul truck, excavator

- Fixed plant purchased and on site.

o Underground fans
o Transformers
o Fuel Infrastructure
o Replacement piping for slurry and water reclaim

- General Manager and Mine Manager has commenced employment on site.

- Road infrastructure upgraded.

- Portal entry and ore handling area refurbished and expanded.

- Vertex on track for January commissioning of the plant.

The Reward Gold Mine is well placed for a simple start -up:

- The new processing plant will be constructed adjacent to the underground mine portal (640 Level) and over the existing footprint of the existing plant.

- The 640 Level extends into the resource and no stripping required with the revised mine plan.

- Second egress in place with existing ladder way from 640 Level to surface.

- Some underground fleet and utility services are already owned by Vertex. With new fleet arriving.

- The New plant will be utilising the existing services and infrastructure:

o Gold Room
o Water systems
o Power generation
o Offices
o Change Rooms
o Workshop
o Storeroom
o Crib Room
o Jaw Crusher
o Access Roads
o Security System

Commenting on the progress, Vertex Executive Chairman Roger Jackson said: "We are very pleased with the progress so far with the redevelopment of the Reward Mine and the refurbishment of the Gravity Gold plant, given we have done this with a very small capital budget and a very wet season. I would like to acknowledge our team at Hill End, headed up by our Director Declan Franzmann and Maintenance Manger Jeff Williams who have worked tirelessly on this project to get it to this point.

Further I would like to express our gratitude to the efforts made by Gekko on their professionalism in taking a second-hand plant and refurbishing it to an excellent standard within a very short lead time.

We are now all-hands-on-deck to get ore into the plant and be producing gold bars in January."

About Vertex Minerals Limited:

Vertex Minerals Limited (ASX:VTX) is an Australian based gold exploration company developing its advanced Hargraves and Hill End gold projects located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW. Other Company assets include the Pride of Elvire gold project and Taylors Rock gold/nickel/lithium project both located in the Eastern Goldfields of WA. The focus of Vertex Minerals is to advance the commercial production of gold from its NSW projects embracing an ethical and environmentally sustainable approach.

Source:
Vertex Minerals Limited

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World Copper Files Amended Resource Estimate and Technical Report for Updated Resource Estimate for the Zonia Project

Provides ATM Quarterly Report

This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated July 17, 2024 to its short form base shelf prospectus and amended and restated short form base shelf prospectus dated June 7, 2024

Classification (Oxidation State)	Copper Cut-off grade (%)	Short Tons (Million)	Grade (TCu%)	Cu Lbs. (Million)
Indicated (Oxide)	0.18	101.2	0.300	608
Indicated (Mixed)	0.18	11.0	0.271	60
Total Indicated	0.18	112.2	0.297	668
Inferred (Oxide)	0.18	46.4	0.257	239
Inferred (Mixed)	0.18	16.5	0.248	82
Total Inferred	0.18	62.9	0.255	320

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Red Metal Resources Announces New Board Member

Red Metal Resources Ltd. (CSE: RMES) (OTC Pink: RMESF) (FSE: I660) ("Red Metal" or the "Company") is pleased to announce the appointment of Matt Parent to the Board of Directors.

Matt Parent is a proven entrepreneur with 35+ years of business experience in business strategy, and operations, having founded and successfully developed businesses, including in the transportation and logistics industry. He has a Bachelor of Commerce Degree from the University of Windsor, and an accounting degree from Athabasca University. In addition, he has the Canadian Securities Course, his Dealer Representative course from Investment Funds Institute (IFSE) of Canada, and he is enrolled in the Officers, Directors, and Partners course with IFSE.

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Heritage Mining Announces Oversubscribed Closing of the Final Tranche of its Non-Brokered Private Placement of Units and Flow-Through Shares

(TheNewswire)

VANCOUVER, BC TheNewswire - November 8, 2024 Heritage Mining Ltd. (CSE: HML) (" Heritage " or the " Company ") is pleased to announce that it has closed the final tranche (" Tranche Two ") of its non - brokered private placement financing previously announced on September 23, 2024 (the " Offering ").

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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

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.

Cut-off Grade TCu (%)	Indicated			Inferred
Cut-off Grade TCu (%)	Tonnage (ktons)	Grade (TCu%)	Cu Metal Content (Mlbs)	Tonnage (ktons)	Grade (TCu%)	Cu Metal Content (Mlbs)
0.15	133,301	0.276	737	81,328	0.234	381
0.16	126,405	0.283	716	75,277	0.241	363
0.17	119,505	0.290	693	69,253	0.248	343
0.18	112,231	0.297	668	62,864	0.255	320
0.20	97,655	0.314	613	50,006	0.272	272
0.21	90,660	0.322	584	43,860	0.281	247
0.22	83,608	0.331	554	38,799	0.290	225

	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

Hole	From (m)	To (m)	Length (m)	Au (g/t)	Ag (g/t)	Cu (ppm)	Mo (ppm)	GxM Au	Depth (m)	Easting	Northing	RL	Azi.	Dip
OEDD0084	64.0	65.0	1.0	0.7	1.9	425	2	1	179.2	647690	1032316	472	155	-55
OEDD0084	69.0	139.0	70.0	1.2	2.3	611	2	84
including	118.0	119.0	1.0	5.4	2.0	568	1	5
and	143.0	144.0	1.0	1.0	0.5	42	1	1
OEDD0085	55.0	56.0	1.0	0.8	0.8	117	1	1	260.0	647759	1032374	471	186	-55
and	64.0	69.0	5.0	0.4	0.5	274	8	2
and	117.0	118.0	1.0	1.9	0.2	82	2	2
and	137.0	138.0	1.0	1.3	0.3	121	14	1
and	149.0	152.0	3.0	0.4	0.1	90	15	1
and	163.0	164.0	1.0	0.7	0.4	102	8	1
and	177.0	198.0	21.0	1.7	2.2	122	2	36
Including	178.0	179.0	1.0	5.6	2.8	144	2	6
and	202.0	212.0	10.0	7.8	4.8	144	3	78
Including	207.0	211.0	4.0	16.8	8.7	219	3	67
and	222.0	223.0	1.0	1.5	1.3	299	2	2
and	242.0	243.0	1.0	0.5	0.2	95	1	1
and	248.0	249.0	1.0	0.4	0.2	126	1	0
OEDD0086	81.0	82.0	1.0	0.4	0.1	58	2	0	293.0	647818	1032414	474	190	-55
and	111.0	112.0	1.0	1.5	0.2	143	3	2
OEDD0087	125.0	126.0	1.0	0.7	0.1	28	3	1	344.3	647796	1032437	476	193	-55
and	145.0	146.0	1.0	0.5	0.3	128	1	1
and	222.0	223.0	1.0	0.6	0.1	45	1	1
and	149.0	178.0	29.0	20.0	6.7	635	2	580	218.2	647710	1032176	473	13	-55
Including	149.0	157.0	8.0	39.5	20.5	2210	3	316
OEDD0099	306.0	307.0	1.0	0.7	0.1	55	1	1	554.4	647597	1031979	471	13	-55
and	343.0	344.0	1.0	0.7	0.2	49	2	1
and	349.0	354.0	5.0	0.5	0.4	112	2	3
and	372.0	373.0	1.0	0.9	0.3	160	2	1
and	422.0	425.0	3.0	0.8	1.7	50	2	2
OEDD0100	96.0	97.0	1.0	0.8	0.9	777	1	1	233.2	647735	1032201	474	13	-55
and	140.0	199.0	59.0	14.7	5.2	219	4	868
Including	143.0	164.0	21.0	22.4	7.5	123	2	470
OEDD0101	1.50	3.0	1.5	0.7	0.2	92	6	1	370.9	647514	1031999	473	13	-55
OEDD0102	4.0	5.0	1.0	0.6	0.2	53	1	1	500.3	647675	1032344	477	155	-55
and	186.0	187.0	1.0	3.8				4
and	194.0	207.0	13.0	2.7				35
and	211.0	219.0	8.0	13.3				106
and	230.0	231.0	1.0	0.7				1

Hole ID	From (m)	To (m)	Interval (m)	Gold g/t	GxM	Fold Geometry
OEDD0083	165	205	56	26.00	1456	Hinge
OEDD0085	177	196	21	1.70	36	Hinge
OEDD0088	149	178	29	20.00	580	Hinge
OEDD0100	143	199	59	14.70	867	Hinge
				Average	735
OEDD0045	89	100	11	5.41	59.51	Limb
OEDD0045	117	127	10	1.86	18.60	Limb
OEDD0083	210	219	9	1.56	14.04	Limb
OEDD0083	232	236	4	1.77	7.08	Limb
OEDD0085	203	212	9	8.68	78.12	Limb
OERC0132	74	82	8	7.29	58.32	Limb
OERC0132	96	107	11	2.63	28.93	Limb
				Average	38
*The intercepts reported in the Table 1 may not be the same as previously reported, as they have been selected based on geology and broken down to 'Hinge' or 'Limb' zones.

Au	Gold
g/t	Grams per tonne
km	Kilometres
m	Metres

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