Canada Nickel Continues Rapid Progression of Crawford Nickel Project Federal Permitting

TORONTO , April 4, 2023 /CNW/ - Canada Nickel Company Inc. ("Canada Nickel" or "The Company") (TSXV: CNC) (OTCQX: CNIKF) is pleased to announce commencement of the Impact Statement Phase for the Crawford Nickel Project ("Crawford" or "the Crawford Project") under the Impact Assessment Act.

Mark Selby , Chair & CEO of Canada Nickel said, "As we now enter the second phase of the Impact Assessment process, we'd like to express our appreciation to our partners, stakeholders, and Indigenous communities for their continued engagement, and to the Impact Assessment Agency of Canada for their timely actions in efficiently progressing the Impact Assessment process for Crawford. As we continue our rapid progression through project permitting, Canada Nickel remains committed to ensuring thorough, meaningful baseline assessments, impact analysis, and engagement."

An Important Step for the Crawford Nickel Project

The Impact Assessment process is a planning and decision-making tool used by regulators, Indigenous communities, the general public, stakeholders, and proponents to emphasize the positive and resolve or mitigate the negative impacts of a proposed major project, and to ensure that the development of the project is in the public's best interest. The Impact Statement Phase, the second phase of the process, culminates with the proponent's submission of the Impact Statement, a detailed technical document that identifies and assesses the potential impacts of a project and the measures proposed to mitigate those effects.

About Canada Nickel

Canada Nickel 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 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.

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: https://www.newswire.ca/en/releases/archive/April2023/04/c6010.html

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Canada Nickel TSXV:CNC Base Metals Investing

CNC:CA

Canada Nickel Makes New Discovery at Newmarket Property, Achieves Best Drill Results at Reid to Date and Announces Grant of Options and RSUs

Highlights

First two holes at Newmarket successfully intersect target mineralization including 373 metres of 0.24% nickel in NEW24-01
Best interval to date at first hole at Reid - 675 metres of 0.25% nickel including 142 metres of 0.32% nickel and 24 metres of 0.40% nickel in REI24-17
First five holes at Reid each intersect over 650 metres of target mineralization within an 800-metre-thick ultramafic sequence – approximately 2 times thicker than Crawford's Main zone

Canada Nickel Company Inc. (" Canada Nickel " or the " Company ") (TSXV: CNC) (OTCQX: CNIKF) is pleased to announce positive initial assay results from its 2024 exploration program including the first two holes at the Company's Newmarket property and results from the first hole from its Reid property, which delivered the best drill results to date from Reid.

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Highlights

A new discovery, Mann Central, successfully delineated across 2.5 kilometre strike length by six holes
Three additional drill holes at previously announced Mann Northwest discovery, extended mineralization across a 2.7 kilometre strike length
Mann Northwest and Mann Central are two of five targets (others are Mann Southeast, Newmarket and Reaume) each with a geophysical footprint larger than Crawford, and a combined strike length of over 25 kilometres

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Hole ID	From (m)	To (m)	Length (m)	Ni %	Co %	Pd g/t	Pt g/t	Cr %	Fe %	S %
MANN NORTHWEST
MAN23-06	6.9	402.0	395.1	0.20	0.01	0.007	0.010	0.39	7.18	0.04
MAN23-13	40.5	152.4	111.9	0.20	0.01	0.023	0.015	0.43	6.88	0.06
and	166.5	183.0	16.5	0.04	0.01	0.263	0.166	0.41	4.32	0.02
and	185.5	444.0	258.5	0.20	0.01	0.003	0.004	0.40	7.23	0.02
MAN23-14	30.0	420.0	390.0	0.23	0.01	0.005	0.007	0.22	5.96	0.03
MAN23-15	36.0	298.5	262.5	0.15	0.01	0.020	0.018	0.30	6.94	0.06
and	357.4	450.0	92.6	0.21	0.01	0.025	0.025	0.29	6.51	0.11
MANN CENTRAL
MAN23-07	80.4	266.5	186.1	0.24	0.01	0.004	0.007	0.17	6.16	0.10
and	283.5	444.0	160.5	0.24	0.01	0.005	0.007	0.17	6.22	0.02
MAN23-08	39.1	396.0	356.9	0.22	0.01	0.005	0.007	0.39	6.69	0.04
MAN23-09	96.0	402.0	306.0	0.21	0.01	0.005	0.006	0.25	6.59	0.16
including	202.5	258.4	55.9	0.25	0.01	0.005	0.007	0.12	6.31	0.12
MAN23-10	11.5	402.0	390.5	0.21	0.01	0.004	0.007	0.45	7.17	0.04
MAN23-11	10.5	402.0	391.5	0.17	0.01	0.028	0.022	0.36	6.89	0.03
*including*	117.0	145.5	28.5	0.03	0.01	0.330	0.220	0.34	5.32	0.02
and	157.7	306.0	148.3	0.22	0.01	0.003	0.004	0.33	6.82	0.03
MAN23-12	14.8	402.0	387.2	0.22	0.01	0.003	0.005	0.32	6.23	0.03

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Hole ID	From (m)	To (m)	Length (m)*	Ni %	Co %	Pd g/t	Pt g/t	Cr %	Fe %	S %
REI24-17	27.0	702.0	675.0	0.25	0.012	0.010	0.007	0.69	5.99	0.07
including	304.5	447	142.5	0.32	0.013	0.024	0.012	0.71	5.73	1.27
Including	385.5	409.5	24.0	0.40	0.014	0.027	0.011	0.70	5.89	1.50

Hole ID	Easting (mE)	Northing (mN)	Azimuth (⁰)	Dip (⁰)	Length (m)
REI24-17	456365	5403800	0	-60	702
REI24-18	456760	5404150	180	-60	720
REI24-19	456960	5404305	180	-60	726
REI24-20	456565	5404100	180	-60	702
REI24-21	456565	5404300	180	-60	702
REI24-22	456565	5404300	0	-60	492

Hole ID	Easting (mE)	Northing (mN)	Azimuth (⁰)	Dip (⁰)	Length (m)
NEW24-01	510729	5404260	50	-50	418
NEW24-02A	510007	5404669	40	-50	417

Hole ID	Zone	Easting (mE)	Northing (mN)	Azimuth (⁰)	Dip (⁰)	Length (m)
MAN23-01	NW	495641	5412486	235	-50	432
MAN23-02	NW	495967	5412226	235	-50	402
MAN23-03	NW	495967	5412226	35	-50	402
MAN23-04	NW	496257	5411972	235	-50	402
MAN23-05	NW	495360	5412699	225	-50	402
MAN23-06	NW	499728	5413633	0	-50	402
MAN23-07	CE	498762	5410346	345	-50	444
MAN23-08	CE	498762	5410346	180	-50	396
MAN23-09	CE	499200	5410800	160	-50	402
MAN23-10	CE	497600	5410380	0	-50	402
MAN23-11	CE	497600	5410380	180	-50	402
MAN23-12	CE	496800	5410171	0	-50	402
MAN23-13	NW	494930	5413340	240	-50	444
MAN23-14	NW	494429	5413990	62	-50	420
MAN23-15	NW	494845	5413725	60	-50	450

Hole ID	From (m)	To (m)	Length (m)	Ni %	Co %	Pd g/t	Pt g/t	Pd+Pt g/t	S %
BAN23-01	65.0	347.0	282.0	0.27	0.010	0.004	0.008	0.012	0.01
including	239.0	284.0	45.0	0.30	0.010	0.006	0.015	0.021	0.01
including	275.0	279.5	4.5	0.34	0.010	0.010	0.056	0.066	0.01
BAN23-02	63.5	386.0	322.5	0.28	0.010	0.007	0.008	0.015	0.09
including	285.5	360.5	75.0	0.31	0.010	0.021	0.018	0.039	0.10
including	300.5	312.5	12.0	0.34	0.012	0.098	0.068	0.166	0.12
BAN23-03	32.0	332.0	300.0	0.29	0.009	0.003	0.004	0.007	0.02
including	239.0	263.0	24.0	0.34	0.010	0.010	0.004	0.014	0.03
BAN23-04	44.0	399.9	355.9	0.27	0.010	0.011	0.009	0.020	0.05
including	197.0	251.0	54.0	0.38	0.011	0.034	0.017	0.051	0.05
including	233.0	249.5	16.5	0.54	0.013	0.072	0.034	0.106	0.21
BAN23-05	10.8	401.0	390.2	0.28	0.010	0.005	0.005	0.010	0.02
including	98.0	108.5	10.5	0.34	0.010	0.017	0.014	0.031	0.03
and	143.0	146.0	3.0	0.48	0.011	0.066	0.039	0.105	0.09
BAN23-06	62.0	214.8	152.8	0.21	0.010	0.006	0.008	0.014	0.13
and	271.7	332.0	60.3	0.21	0.010	0.005	0.006	0.011	0.07

Hole ID	From (m)	To (m)	Length (m)	Ni %
GBN21-01	71.5	232.4	160.9	0.24
*including*	103.0	125.6	22.6	0.30
*with*	118.0	125.6	7.6	0.38
GBN21-02	40.5	337.0	296.5	0.28
*including*	98.0	210.0	112.0	0.32
*with*	147.0	195.0	48.0	0.34
GBN21-03	39.3	381.0	341.7	0.28
*including*	256.5	321.0	64.5	0.30
GBN21-04	115.5	309.0	193.5	0.31
*including*	133.5	162.0	28.5	0.40
*and*	225.0	247.5	22.5	0.41
GBN21-05	49.7	219.0	169.3	0.20
*including*	79.5	105.0	25.5	0.27
GBN21-06	60.0	247.5	189.0	0.27
*including*	133.5	174.0	40.5	0.30
*and*	210.0	235.5	25.5	0.31
GBN21-07	36.0	405.0	369.0	0.24
*including*	160.5	273.0	112.5	0.27
*with*	231.0	273.0	42.0	0.29
GBN21-08	72.0	303.0	231.0	0.24
*including*	132.0	258.0	126.0	0.28

Hole ID	Zone	Easting (mE)	Northing (mN)	Azimuth (⁰)	Dip (⁰)	Length (m)
BAN23-01	B	506714	5313946	245	-50	347
BAN23-02	B	507020	5313630	235	-50	386
BAN23-03	B	507113	5313412	240	-61	332
BAN23-04	B	506820	5313767	245	-55	401
BAN23-05	B	506890	5313398	55	-50	401
BAN23-06	B	506855	5313908	120	-50	332

Canada Nickel Continues Rapid Progression of Crawford Nickel Project Federal Permitting

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Overview

Company Highlights

Key Project

Crawford Nickel-Sulphide Project

Management Team

Mark Selby - CEO

Wendy Kaufman – CFO

Steve Balch – VP Exploration

Pierre-Philippe Dupont – VP Sustainability

Desmond Tranquilla – VP Projects

Chris Chang – VP of Corporate Development

John Leddy – Senior Advisor Legal & Strategic Matters

Adam Schatzker – VP Corporate Development

David Smith – Chairman

Francisca Quinn – Director

Jennifer Morais – Director

Mike Cox – Director

Kulvir Singh Gill – Director

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