Canada Nickel Completes Current Phase of Crawford Drilling, Announces Highest Grade Interval to Date

Highlights

Best Crawford high-grade interval to date; core length of 64.5 metres of 0.71% nickel from 472.5 metres including 6 metres of 1.04% nickel from East Zone High Grade Core
Main Zone mineralization successfully drilled to a depth of 1 kilometre
East Zone mineralization successfully infilled and extended by a further 33% to strike length of 2.8 kilometres
PGM Zone continues to expand – 1.4 g/t PGM over 11.4 metres core length including 2.5 g/t PGM over 3 metres core length

Canada Nickel Company Inc. (" Canada Nickel " or the " Company ") (TSXV: CNC) (OTCQX: CNIKF) announced today it had completed its current phase of drilling at the Company's flagship Crawford Nickel Sulphide Project and is reporting assay results from 33 drill holes from the Crawford drilling program including additional assay results from the previously announced East Zone High Grade Core discovery. A further 37 holes have been drilled at Crawford with assays pending.

Mark Selby , Chair and Chief Executive Officer said, "We are very excited to reach this key milestone of completing this phase of infill drilling at Crawford to support the feasibility study. The Crawford drilling program continued to deliver strong results, with this phase yielding the highest-grade interval to date, a 33% increase in strike length of East Zone mineralization to 2.8 kilometres, and further testing of Main Zone at depth to more than one kilometre. With more than 200 holes now completed - more than three times the drilling utilized in the Preliminary Economic Analysis ("PEA") – we are well-positioned to deliver a resource increase by mid-year to support the feasibility study expected by the end of this year."

Crawford East Zone

The East Zone was originally defined as two separate zones due to the limited amount of drilling included in the May 2021 PEA. Since then, Canada Nickel has drilled 38 more holes, 12 of which are summarized in this press release. Assays are still outstanding in the remaining 26 holes. The East Zone is now defined as a single continuous ultramafic unit mineralized over its strike length of 2.8 kilometres. It averages 200 metres in thickness and has been drilled to a vertical depth to as much as 730 metres and remains open at depth. The East Zone Higher Grade Core was successfully intercepted in multiple holes designed to better define its extent. Hole CR21-165A was mineralized across its entire 690 metres length including a 409.5 metre interval of 0.34% nickel (42 metre true width) and 111 metre interval of 0.40% nickel (11.6 metres true width). Hole CR21-153 was mineralized over entire core length grading 0.30% nickel over 584 metres including 0.45% nickel over 174 metres, 0.71% nickel over 64.5 metres, and 1.04% nickel over 6 metres. Holes CR21-136, CR21-149, CR21-156 and CR21-165 also successfully intercepted Higher Grade Core .

Figure 1: Plan View of East Zone - Drill Results Overlain on Total Field Magnetic Intensity, Crawford Nickel Sulphide Project, Ontario .

Table 1: East Zone Infill Drilling Results, Crawford Nickel Sulphide Project, Ontario .

Hole ID	From	To	Length	Est. True	Ni	Co	Pd	Pt	Cr	Fe	S
	(m)	(m)	(m)	Width (m)	(%)	(%)	(g/t)	(g/t)	(%)	(%)	(%)
CR21-119	39.7	479.0	439.3	219.7	0.24	0.012	0.014	0.010	0.58	6.27	0.04
including	221.0	434.0	213.0	106.5	0.27	0.012	0.003	0.003	0.61	5.60	0.03
CR21-123	22.0	507.0	485.0	242.5	0.20	0.012	0.008	0.007	0.62	6.44	0.02
including	261.5	430.5	169.0	84.5	0.26	0.012	0.006	0.005	0.66	5.74	0.02
CR21-125	72.0	375.6	303.6	151.8	0.22	0.012	0.008	0.006	0.59	6.43	0.05
including	232.5	348.0	115.5	57.8	0.27	0.012	0.011	0.006	0.68	5.46	0.06
CR21-127	87.0	300.0	213.0	136.9	0.21	0.013	0.007	0.006	0.57	6.54	0.06
including	177.0	259.5	82.5	53.0	0.25	0.012	0.004	0.005	0.64	5.57	0.06
CR21-131	39.0	346.5	307.5	130.0	0.20	0.012	0.010	0.007	0.56	6.71	0.08
including	198.0	295.5	97.5	41.2	0.26	0.012	0.018	0.010	0.61	5.81	0.07
CR21-133	99.0	285.0	186.0	93.0	0.23	0.012	0.006	0.006	0.64	6.30	0.06
including	180.0	271.5	91.5	45.8	0.26	0.012	0.007	0.007	0.64	5.68	0.07
CR21-136	37.5	327.0	289.5	166.1	0.24	0.012	0.034	0.013	0.62	6.25	0.07
including	129.0	285.0	156.0	89.5	0.28	0.012	0.056	0.019	0.66	5.76	0.08
including	235.5	271.5	36.0	20.6	0.34	0.013	0.230	0.065	0.71	5.90	0.11
including	241.5	255.0	13.5	7.7	0.40	0.011	0.560	0.113	0.72	5.64	0.10
CR21-138	47.5	336.0	288.5	144.3	0.22	0.012	0.010	0.008	0.57	6.08	0.07
including	163.5	268.5	105.0	52.5	0.27	0.012	0.007	0.006	0.57	5.19	0.08
CR21-143	48.6	499.2	450.6	289.6	0.24	0.012	0.003	0.006	0.64	5.94	0.03
including	48.6	334.0	285.4	183.5	0.26	0.012	0.003	0.005	0.61	5.75	0.03
CR21-147	29.2	315.0	285.9	183.7	0.22	0.012	0.005	0.005	0.65	6.30	0.05
including	35.0	134.0	99.0	63.6	0.27	0.012	0.003	0.005	0.71	5.56	0.05
CR21-149	31.1	472.6	441.5	23.1	0.26	0.013	0.019	0.012	0.68	6.22	0.12
including	257.5	353.5	96.0	5.0	0.31	0.014	0.053	0.024	0.75	5.93	0.12
including	313.0	344.5	31.5	1.6	0.37	0.017	0.143	0.049	0.70	6.06	0.19
and	452.5	472.6	20.1	1.1	0.34	0.020	0.055	0.024	0.60	6.41	0.34
CR21-153	85.0	669.0	584.0	40.7	0.30	0.013	0.020	0.012	0.63	6.04	0.12
including	397.5	571.5	174.0	12.1	0.45	0.015	0.057	0.026	0.68	5.95	0.29
including	472.5	537.0	64.5	4.5	0.71	0.016	0.115	0.035	0.64	5.53	0.46
including	492.0	498.0	6.0	0.4	1.04	0.018	0.092	0.033	0.63	5.24	0.82
CR21-156	84.0	657.8	573.8	40.0	0.28	0.013	0.018	0.010	0.68	6.19	0.16
including	394.0	601.0	207.0	14.4	0.35	0.015	0.039	0.019	0.74	6.28	0.37
including	443.5	550.0	106.5	7.4	0.38	0.016	0.062	0.026	0.76	6.67	0.51
CR21-160	30.7	549.0	518.3	177.3	0.24	0.013	0.007	0.004	0.63	6.10	0.03
including	304.5	475.5	171.0	58.5	0.27	0.012	0.003	0.003	0.65	5.75	0.02
CR21-165	36.2	555.0	518.8	40.7	0.29	0.013	0.038	0.018	0.70	5.89	0.11
including	270.0	555.0	285.0	22.4	0.33	0.014	0.062	0.030	0.71	5.79	0.19
including	270.0	308.0	38.0	3.0	0.37	0.011	0.078	0.083	0.63	5.24	0.10
and	472.5	525.0	52.5	4.1	0.42	0.019	0.060	0.023	0.72	6.65	0.36
CR21-165A	45.0	735.0	690.0	72.1	0.30	0.014	0.042	0.019	0.70	6.09	0.19
including	270.0	679.5	409.5	42.8	0.34	0.015	0.065	0.028	0.71	6.12	0.29
including	468.0	579.0	111.0	11.6	0.40	0.018	0.046	0.018	0.73	6.85	0.56
including	469.5	501.0	31.5	3.3	0.51	0.017	0.044	0.019	0.73	6.17	0.39

Crawford Main and West Zone

Drilling within the Main and West Zone consisted of infill drilling to upgrade the resource and expand the resource northwest of the existing Main Zone Resource Estimate. A total of 39 holes were completed with 21 holes summarized in this release and 18 holes with assays pending.

Drilling westward from the Main Zone has extended the mineralization continuously from the existing resource for a distance of 850 metres to the northwest where it remains open along strike and at depth. This mineralization includes a higher-grade zone as intersected in hole CR21-144 (core length of 69.5 metres of 0.43% Ni starting at 152 m ). Four hundred metres farther to the north, mineralized ultramafic continues to be found such as CR21-130 which intersected 0.24% nickel over core length of 525 metres starting at 32.8 metres including a higher-grade zone of 0.34% nickel over 33.0 metres starting at 322.5 m . Hole CR22-198 was drilled to a core length of 1.04 kilometres and was continuously mineralized below 39 metres of overburden.

Figure 2: Plan View of Main Zone - Drill Results Overlain on Total Field Magnetic Intensity, Crawford Nickel Sulphide Project, Ontario .

Table 2: Main and West Zone Infill Drilling Results, Crawford Nickel Sulphide Project, Ontario .

Hole ID	From	To	Length	Est. True	Ni	Co	Pd	Pt	Cr	Fe	S
	(m)	(m)	(m)	Width (m)	(%)	(%)	(g/t)	(g/t)	(%)	(%)	(%)
CR21-110	57.0	426.0	369.0	237.2	0.23	0.013	0.007	0.011	0.58	7.39	0.02
including	57.0	160.5	103.5	66.5	0.29	0.012	0.018	0.024	0.48	7.21	0.03
CR21-115	88.5	450.0	361.5	232.4	0.21	0.012	0.003	0.005	0.62	7.23	0.07
CR21-120	111.0	447.0	336.0	216.0	0.23	0.012	0.003	0.004	0.55	6.99	0.05
including	255.5	417.5	162.0	104.1	0.27	0.012	0.003	0.004	0.68	6.80	0.04
CR21-122	42.3	501.0	458.7	294.8	0.24	0.012	0.005	0.004	0.54	6.64	0.02
including	231.0	501.0	270.0	173.6	0.28	0.012	0.006	0.005	0.63	6.15	0.02
CR21-126A	39.0	546.0	507.0	290.8	0.24	0.013	0.007	0.006	0.54	7.03	0.04
including	186.0	510.0	324.0	185.8	0.27	0.012	0.006	0.005	0.58	6.94	0.04
CR21-128	40.9	549.0	508.1	326.6	0.24	0.013	0.017	0.012	0.59	7.27	0.05
including	171.5	312.5	141.0	90.6	0.26	0.012	0.005	0.004	0.64	6.99	0.05
CR21-130	32.8	558.0	525.2	337.6	0.24	0.013	0.016	0.010	0.58	7.04	0.06
including	322.5	355.5	33.0	21.2	0.34	0.016	0.035	0.019	0.55	7.64	0.15
CR21-132	67.0	489.0	422.0	271.3	0.24	0.014	0.016	0.015	0.60	7.38	0.02
including	67.0	169.5	102.5	65.9	0.29	0.013	0.052	0.033	0.59	6.96	0.07
including	129.0	165.0	36.0	23.1	0.36	0.013	0.125	0.077	0.40	6.97	0.12
including	135.0	151.5	16.5	10.6	0.43	0.013	0.104	0.018	0.47	7.16	0.15
CR21-135	67.0	564.0	497.0	319.5	0.24	0.012	0.012	0.011	0.58	7.14	0.03
including	67.0	275.5	208.5	134.0	0.27	0.011	0.024	0.015	0.56	6.74	0.04
CR21-137	61.0	468.0	407.0	233.4	0.21	0.013	0.003	0.006	0.55	7.18	0.02
including	61.0	109.5	48.5	27.8	0.25	0.013	0.003	0.005	0.31	7.15	0.02
CR21-139	46.5	465.5	419.0	240.3	0.25	0.014	0.021	0.014	0.62	7.38	0.04
including	46.5	208.0	161.5	92.6	0.27	0.014	0.014	0.008	0.58	7.43	0.05
CR21-141	46.5	586.5	540.0	309.7	0.22	0.012	0.003	0.005	0.51	6.79	0.04
including	46.5	218.5	172.0	98.7	0.25	0.012	0.004	0.005	0.61	6.30	0.05
CR21-144	60.0	369.0	309.0	130.6	0.29	0.015	0.034	0.011	0.38	7.14	0.10
including	152.5	369.0	216.5	91.5	0.33	0.015	0.026	0.010	0.30	7.26	0.12
including	152.5	222.0	69.5	29.4	0.43	0.016	0.040	0.012	0.31	7.31	0.15
CR21-145	82.0	667.5	585.5	335.8	0.21	0.013	0.009	0.010	0.59	7.29	0.06
CR21-148	49.0	505.0	456.0	261.6	0.25	0.014	0.015	0.014	0.57	7.42	0.04
including	328.0	396.0	68.0	39.0	0.31	0.014	0.061	0.035	0.38	7.53	0.06
and	482.5	502.0	19.5	11.2	0.33	0.014	0.015	0.009	0.76	7.81	0.05
and	373.0	391.0	18.0	10.3	0.42	0.015	0.018	0.010	0.37	7.49	0.13
CR21-152	63.9	535.5	471.6	270.5	0.24	0.012	0.006	0.005	0.57	7.04	0.05
including	262.5	477.0	214.5	123.0	0.28	0.013	0.009	0.005	0.69	7.31	0.04
CR21-155	46.0	579.0	533.0	250.2	0.28	0.011	0.016	0.007	0.61	6.60	0.06
including	198.0	483.0	285.0	133.8	0.32	0.011	0.021	0.007	0.60	6.83	0.07
including	447.0	481.5	34.5	16.2	0.37	0.012	0.034	0.011	0.71	5.83	0.20
CR21-157	45.5	549.0	503.5	288.8	0.22	0.013	0.006	0.012	0.54	6.97	0.02
including	475.0	549.0	74.0	42.4	0.27	0.014	0.016	0.022	0.32	6.92	0.02
CR21-159	30.2	366.0	335.8	192.6	0.27	0.013	0.015	0.009	0.62	6.27	0.06
including	81.0	187.5	106.5	61.1	0.34	0.013	0.027	0.011	0.73	5.25	0.14
including	90.0	135.0	45.0	25.8	0.39	0.014	0.037	0.013	0.76	4.33	0.22
including	94.5	123.0	28.5	16.3	0.41	0.014	0.040	0.014	0.75	4.30	0.25
CR21-162	25.5	396.0	370.5	95.9	0.29	0.013	0.022	0.014	0.64	6.54	0.07
including	112.5	274.5	162.0	41.9	0.33	0.013	0.033	0.011	0.58	6.47	0.05

PGM Zone

PGM mineralization continued to be targeted with five additional holes. These results confirm the association of a PGM zone along the boundary of a gravity high structure which has a circumference of approximately 9.7 kilometres and borders the nickel mineralization in the Main and East Zones. Grades and true widths are consistent with previously reported drilling. Higher grade intervals, such as 2.8 g/t PGM over 1.5 metres (true width) in CR21-133 occur in some holes and lower grade intervals, such as 0.9 g/t PGM over 2 metres (true width) in CR21-134A occur in other holes, but the PGM Zone appears to be largely continuous. The PGM Zone will be more intensively targeted with a drill program during 2022.

Figure 3: Plan View of PGM Zone – Drill Results Overlain on Gravity Vertical Gradient, Crawford Nickel Sulphide Project, Ontario .

Table 3: PGM Zone Infill Drilling Results, Crawford Nickel Sulphide Project, Ontario .

Hole ID	From	To	Length	Est. True	Pd + Pt	Pd	Pt	Ni	Co	Cr	Fe	S
	(m)	(m)	(m)	Width (m)	(g/t)	(g/t)	(g/t)	(%)	(%)	(%)	(%)	(%)
CR21-124	499.5	505.5	6.0	3.9	1.5	0.547	0.950	0.05	0.012	0.54	7.44	0.02
including	532.6	544.0	11.4	7.3	1.4	0.706	0.706	0.02	0.006	0.46	6.04	0.03
including	537.0	540.0	3.0	1.9	2.5	1.305	1.240	0.02	0.006	0.45	6.25	0.01
and	550.9	553.1	2.2	1.4	2.3	1.096	1.190	0.03	0.007	0.44	5.81	0.03
CR21-129A (partial)	373.5	381.0	7.5	4.8	1.3	0.621	0.660	0.03	0.009	0.39	5.81	0.07
including	375.0	378.0	3.0	1.9	2.5	1.240	1.280	0.02	0.008	0.32	5.48	0.00
CR21-131	355.5	358.5	3.0	1.3	0.9	0.463	0.480	0.02	0.007	0.38	5.64	0.05
CR21-133	345.0	355.5	10.5	5.3	1.4	0.673	0.693	0.02	0.007	0.32	5.81	0.12
including	349.5	352.5	3.0	1.5	2.8	1.395	1.375	0.02	0.007	0.28	5.91	0.10
CR21-134A	342.0	348.0	6.0	3.0	1.3	0.599	0.685	0.02	0.007	0.34	5.60	0.06
including	345.0	346.5	1.5	0.8	2.4	1.100	1.270	0.03	0.007	0.40	5.76	0.05
and	379.5	383.5	4.0	2.0	0.9	0.384	0.501	0.05	0.012	0.36	7.00	0.03

Table 4: Drill Hole Orientation

Hole ID	Easting	Northing	Azimuth	Collar Dip	Length
	(mE)	(mN)	(⁰)	(⁰)	(m)
CR21-110	472,338	5,409,413	225	-50	369.0
CR21-115	472,590	5,409,191	225	-50	361.5
CR21-119	474,299	5,409,995	180	-60	439.3
CR21-120	472,135	5,410,036	270	-50	336.0
CR21-122	472,088	5,410,242	270	-50	458.7
CR21-123	474,503	5,409,983	180	-60	485.0
CR21-124	472,040	5,410,238	90	-50	515.0
CR21-125	474,605	5,409,699	360	-60	303.6
CR21-126A	472,021	5,410,135	270	-55	507.0
CR21-127	474,402	5,409,726	360	-50	213.0
CR21-128	472,036	5,410,035	270	-50	508.1
CR21-129A	474,201	5,409,753	360	-50	335.0
CR21-130	472,059	5,409,953	270	-50	525.2
CR21-131	474,000	5,409,818	5	-65	307.5
CR21-132	472,292	5,409,489	225	-50	422.0
CR21-133	473,910	5,409,793	355	-60	372.0
CR21-134A	473,804	5,409,799	5	-60	261.0
CR21-135	472,459	5,409,432	225	-50	497.0
CR21-136	473,617	5,409,780	355	-55	289.5
CR21-137	472,468	5,409,293	225	-55	407.0
CR21-138	473,359	5,409,778	360	-60	288.5
CR21-139	472,128	5,409,631	235	-55	419.0
CR21-141	472,115	5,409,616	60	-55	540.0
CR21-143	473,502	5,410,014	180	-50	450.6
CR21-144	472,054	5,409,463	60	-65	309.0
CR21-145	472,051	5,409,462	235	-55	585.5
CR21-147	473,972	5,409,987	185	-50	285.9
CR21-148	472,087	5,409,312	50	-55	456.0
CR21-149	473,854	5,409,880	178	-87	441.5
CR21-152	472,419	5,409,658	235	-55	471.6
CR21-153	473,763	5,409,807	360	-86	584.0
CR21-155	472,834	5,408,829	35	-62	533.0
CR21-156	473,670	5,409,809	0	-86	573.8
CR21-157	472,291	5,409,057	45	-55	503.5
CR21-159	473,002	5,408,960	215	-55	335.8
CR21-160	474,397	5,409,939	180	-70	518.3
CR21-162	473,002	5,408,961	215	-75	370.5
CR21-165	473,801	5,409,899	180	-85.5	518.8
CR21-165A	473,801	5,409,897	185	-84	690.0
CR22-198	473,559	5,408,735	205	-75	1,009.0

Corporate Update

The Company also announced today that it has issued stock options and RSUs to executives, employees and directors under its equity incentive plans. A total of 1,040,000 stock options were issued at an exercise price of $3.14 per share vesting over a three-year period and 925,362 RSUs were issued vesting over a one-year period. The options expire five years from the date of grant.

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.

Assays, Quality Assurance/Quality Control and Drilling and Assay

Edwin Escarraga , MSc, P.Geo., a "qualified person" as defined by NI 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. A set of Samples are transported in secured bags directly from the Canada Nickel core shack to Actlabs Timmins, the other set of samples are securely shipped to SGS Lakefield. Both 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 17 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, 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 Project, the potential of the Crawford Nickel Sulphide Project, 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.

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SOURCE Canada Nickel Company Inc.

View original content to download multimedia: https://www.newswire.ca/en/releases/archive/April2022/04/c3005.html

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Canada Nickel TSXV:CNC Nickel 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.

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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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Accelerated Non-Renounceable Entitlement Offer Results

Blackstone Minerals Limited (ASX: BSX) (“Blackstone” or the “Company”) advises that the Company has completed its Accelerated Non-Renounceable Entitlement Offer as per the terms of the Prospectus dated 4 November 2024 (“Entitlement Offer”). As announced on 6 November 2024, the institutional component of the Entitlement Offer was completed raising approximately $550k from Nanjia Capital Limited and its controlled entities.

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Nickel Price Update: Q3 2024 in Review

Nickel saw solid price momentum in the first half of the year, benefiting from investor sentiment and speculation across commodity markets that saw surge in prices for both precious and base metals.

However, price highs were short-lived as nickel supply and demand fundamentals provided pressures that saw steep declines.

Among the influences has been a supply of laterite nickel flooding the market out of Indonesia, which is a contributing factor to mine curtailments in New Caledonia, Australia, and Europe. Meanwhile, high demand for battery production in China has yet to reach levels to make up for the oversupply in the market.

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Blackstone Completes Institutional Component of Entitlement Offer

Blackstone Minerals Limited (“Blackstone” or the “Company”) is pleased to announce that it has completed the institutional component (“Institutional Entitlement Offer” or “Institutional Offer”) of its partially underwritten accelerated non-renounceable pro rata entitlement offer as announced on 4 November 2024 (“Entitlement Offer” or “Offer”).

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Launch of $4M Accelerated Partially Underwritten Entitlement Offer

Blackstone Minerals Limited (“Blackstone” or the “Company”) is pleased to announce that it is undertaking a partially underwritten accelerated non-renounceable pro rata entitlement offer of new fully paid ordinary shares in the Company (“Shares”) on the basis of one (1) new Share (“New Shares”) for every four (4) existing Shares held, to raise up to approximately A$4 million (before costs) (“Entitlement Offer” or “Offer”).

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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.

	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 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

Canada Nickel Completes Current Phase of Crawford Drilling, Announces Highest Grade Interval to Date

Investor Insight

Overview

Company Highlights

Key Project

Decar Nickel District - Baptiste Project

Management Team

Martin Turenne - President, CEO and Director

Andrew Osterloh - Vice-president, Projects

Felicia de la Paz - Chief Financial Officer and Corporate Secretary

Dr. Peter M. D. Bradshaw - Chairman

Nigel Fisher - Director, Environment

Jarett Lalonde - Director, Government and Public Affairs

Rob Pease - Director

William H. Myckatyn - Director

Peter Marshall - Director

James S. Gilbert, - Director

Anne Currie - Director

Kim Baird - Director

Dan Apai - Engineering Manager

Tim Bekhuys - SVP, Sustainability and External Relations

Keith Patterson - Vice-president, Generative Exploration

How did the nickel price perform in Q3?

Supply

China demand lagging

Western governments may not be working hard enough for critical supply

What will happen to the nickel price in 2024?

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