Nickel

Highlights:

  • Second locked cycle test confirms recovery gains, improved concentrate quality from latest flowsheet improvements
  • Total nickel recovery of 63% from low nickel feed grade of 0.19% nickel
  • Nickel sulphide concentrate grade of 46% nickel, believed to be highest grade nickel sulphide concentrate produced in locked cycle test based on published studies

Canada Nickel Company Inc. ( "Canada Nickel" or the "Company" ) (TSXV: CNC) (OTCQX:CNIKF) today announced further metallurgical results at its 100% owned Crawford Nickel Sulphide Project which delivered what the Company believes is the highest nickel sulphide concentrate grade from a locked cycle test.

The test results also confirm the newest flowsheet improvements, incorporated as part of metallurgical variability testing for the feasibility study, can deliver improved recoveries and improved concentrate quality.

Mark Selby , Chair and CEO said, "I am very pleased with the first two tests achieving nickel recoveries in excess of 60%.  This latest test is further confirmation of both significant recovery and excellent nickel sulphide concentrate grades particularly from a low-grade sample.  Results from this latest phase of testing are indicating that we can achieve grades of 40-50% for the high grade nickel concentrate, well above the current 35% target for this product.  While we will test a broad range of samples during the upcoming phase of feasibility study work and expect a range of recovery results from 30% to 60+%, this second locked cycle test further demonstrates the potential to deliver improvements in nickel recovery substantially higher than the 4-5 percentage point improvement in nickel recovery the Company is targeting for the feasibility study. Each percentage point of improvement in nickel recovery would yield a US$92 million improvement in the value of the NPV 8% of the project, based on the Preliminary Economic Analysis ("PEA") metrics."

Mr. Selby continued, "Additionally, the Company has continued to make further additions to its land holdings in the Timmins district and continues to make good progress with the strategic investor process  for which the process is expected to be successfully concluded during the first quarter..  The Company has also set its date for its annual general meeting."

Flowsheet Development program
A key focus of the feasibility study activities is the continued improvement in flowsheet performance given its potential to add significant value to the project, particularly as less than one year of work had been completed on the project before results of the PEA were announced on May 25, 2021 . Since releasing the PEA, two phases of optimization work have been completed: Phase 1 focused on increasing recoveries, while Phase 2 has focused on increasing concentrate quality at increased recovery. The conditions and flowsheet used in this test reflect optimizations for both concentrate quality and recovery.

This locked cycle test ("LCT") used the optimized flowsheet which the company expects to take forward into the next phase of metallurgical testing for the feasibility study. The test was conducted at XPS Expert Process Solutions, a Glencore Company ("XPS"), and was the second LCT completed since releasing the PEA. The LCT was completed to measure the impact of flowsheet improvements made over the past eight months. The sample selected for testing was a lower grade heazlewoodite (Ni 3 S 2 ) dominant sample which also contained small amounts of awaruite (Ni 3 Fe). The head grades for the sample were 0.19% nickel, 0.07% sulphur, and 7.7% iron. This sample was selected to test the robustness of the current flowsheet on a lower grade sample from the deposit.

The flowsheet utilized in this test included changes to reagents, grind sizes, and position of magnetic separation in the flowsheet.  No further details are being provided at this time as the Company believes these improvements are a proprietary competitive advantage.

Table 1 – Locked Cycle Tests - Summary of Results using Updated Flowsheet


Head Grades (%)

LCT Recovery (%)

LCT Concentrate Grades (%)

Nickel

Concentrate

Magnetite
Concentrate

Ni

S/Ni

Fe

Ni

Co

Fe

Cr

Ni

Co

Fe

Fe

Cr

Current

0.19

0.37

7.7

63

1.9

53

17

46

0.11

7.3

51

1.2

Previously
Released

0.35

1.1

6.0

62

70

45

21

13

0.9

39

54

4.5

As expected, 100% of the nickel recovery in the flotation concentrate reported to the High Grade Concentrate product because heazlewoodite and awaruite were the primary minerals in this sample.  The nickel concentrate grade of 46% is 11 percentage points higher than our target 35% grade for this product. The iron and MgO content of the flotation concentrate was 7.3% and 13% respectively. PGM assays are pending for this test.

As anticipated, the cobalt recovery for this sample was low because cobalt does not typically associate with the minerals heazlewoodite and awaruite.

The results of the previous released locked cycle test were reported in the news release dated October 5, 2021 .

Table 2 – Locked Cycle Test – Magnetite Concentrate Quality


Grade (%)

Sample

Fe

Cr

Ni

MgO

Co

S

Current

51

1.2

0.17

12

0.05

0.04

Previously
Released

54

4.5

0.13

10

0.008

0.15

The magnetite concentrate from the current test had an iron grade of 51%, which is a substantial improvement over the modelled grade of the 47.5% iron utilized in the PEA.  The chromium grade of 1.2% is lower than the 3.3% chromium grade that was modelled in the PEA and the chromium recovery of 17% was lower than target recovery in the PEA of 27%.   Of the total nickel recovery of 63%, 7 percentage points of the total recovery reported to the magnetite concentrate.  Given the nickel and chromium content of this magnetite concentrate, it is expected to be utilized in the production of stainless steel and other alloys where the nickel and chromium are a valuable feed.

Figure 1 – Nickel Recovery – Current Locked Cycle Test, Previously Released Locked Cycle and Open Cycle Tests Utilizing Flowsheet Improvements Since PEA

Figure 1 - Nickel Recovery - Current Locked Cycle Test, Previously Released Locked Cycle and Open Cycle Tests Utilizing Flowsheet Improvements Since PEA (CNW Group/Canada Nickel Company Inc.)

HZ = Heazlewoodite, PN = Pentlandite, AW = Awaruite

See News Release dated December 2, 2021 for summary of results on the Sample 1

See News Release dated October 5, 2021 for locked cycle test results on Previous LCT, Sample 2, Sample 3, Sample 4 and Sample 5.

Figure 1 summarizes the recovery results for the two locked cycle tests as well as five open circuit tests which were completed with various phases of flowsheet improvements since the PEA.

The open circuit test recovery results, which ranged from 42% to 62% on samples with nickel head grades between 0.22% to 0.43% nickel do not include any recovery of nickel to the magnetite concentrate.

Sample Location
This sample was taken from drill hole CR21-175 from the North Low Grade Zone of the Crawford East Zone.

Figure 2 – Location of Sample used in Locked Cycle Test

Figure 2 - Location of Sample used in Locked Cycle Test (CNW Group/Canada Nickel Company Inc.)

Next Steps in Flowsheet Development
Metallurgical test work through the remainder of 2022 will focus on finalizing and evaluating a flowsheet for the Feasibility Study which is expected to be completed by the fourth quarter of 2022.

Nickel recovery from the slimes circuit was not included in the reported results and represents a further opportunity to improve flowsheet performance and will be evaluated during this phase of feasibility work.

For further details, including key assumptions, parameters and methods used to estimate the results of the PEA, and data verification, please refer the "Crawford Nickel-Sulphide Project National Instrument 43-101 Technical Report and Preliminary Economic Assessment", with an Effective Date of May 21, 2021 , as filed July 12, 2021 , and available for viewing on the Company's website www.canadanickel.com .

Corporate Update

The Company is announcing that its annual general meeting of shareholders ("AGM") will be held on Wednesday, April 20, 2022 . As a result of the ongoing impact of the COVID-19 pandemic and in accordance with continued public health measures, the Company will host its AGM in a virtual-only format.

Holders of record of common shares of the Company as of the close of business on March 11, 2022 will be entitled to receive notice of and vote at the AGM. Detailed instructions for shareholders about how to participate in the AGM and how to duly appoint a proxyholder, will be provided to shareholders in a notice of meeting in advance of the AGM.

Purchase or Option of Timmins-Area Properties

The Company is also pleased to announce that it has entered into four purchase or option agreements covering certain properties located in the Timmins, Ontario nickel-sulphide mining district. Under these agreements, Canada Nickel has agreed to issue the shares and pay the cash listed in the table below, and has agreed that each of the sellers will retain a net smelter royalty ("NSR") that ranges between 1% and 2%, with Canada Nickel having the right to re-purchase 50% of the royalty for $500,000 (with respect to a 1% NSR) or $1 million (with respect to a 2% NSR).

Timing

Cash (1)

Shares (1)

Closing

$85,500

181,000

Year 1

$15,000

15,000

Year 2

$25,000

25,000

Total

$125,500

221,000

(1)     These represent totals under the four agreements.

Canada Nickel also wishes to clarify, further to its November 22, 2021 news release announcing a series of property acquisitions (the "Prior Release"), that it previously entered into a purchase agreement to acquire certain mining claims located in additional townships in the Timmins, Ontario nickel-sulphide mining district, which was not specifically disclosed in the Prior Release. Under this agreement, Canada Nickel issued shares and paid cash as disclosed in the Prior Release. No NSR was retained by the vendor.

Canada Nickel also wishes to clarify, with respect to one of the agreements disclosed in the Prior Release, that (i) the consideration payable to the applicable vendor on closing was 110,000 shares, rather than the 115,000 shares that is reflected in the table of aggregate consideration (Table 10) which is included in the Prior Release, and (ii) up to an additional $15,000 and 25,000 shares may be provided to such vendor if certain royalty targets are met.

The common shares described in this news release are subject to a four-month hold period from the date of their respective issuances. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Qualified Person and Data Verification
Arthur G. Stokreef , P.Eng (ON), Manager of Process Engineering & Geometallurgy and a "qualified person" as such term is defined by National Instrument 43-101, has reviewed and approved the technical information in this news release on behalf of Canada Nickel Company Inc.

About Canada Nickel
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™ 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 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, the metallurgical results, the timing and results of the feasibility study, the results of Crawford's PEA, including statements relating to net present value, future production, estimates of cash cost, proposed mining plans and methods, mine life estimates, cash flow forecasts, metal recoveries, estimates of capital and operating costs, timing for permitting and environmental assessments, realization of mineral resource estimates, capital and operating cost estimates, project and life of mine estimates, ability to obtain permitting by the time targeted, size and ranking of project upon achieving production, economic return estimates, the timing and amount of estimated future production and capital, operating and exploration expenditures and potential upside and alternatives. 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. The PEA results are estimates only and are based on a number of assumptions, any of which, if incorrect, could materially change the projected outcome. There are no assurances that Crawford will be placed into production. Factors that could affect the outcome include, among others: 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 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.

Canada Nickel Company Logo (CNW Group/Canada Nickel Company Inc.)

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SOURCE Canada Nickel Company Inc.

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CNC:CA
Canada Nickel

Canada Nickel

Overview

Canada Nickel (TSXV:CNC, OTC:CNIKF) 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. The Company’s shares trade on the TSX Venture Exchange under the symbol ‘CNC’ and are quoted on the OTCQX under the symbol ‘CNIKF’. For more information, please visit www.canadanickel.com

Company Highlights

  • Completed Preliminary Economic Assessment on wholly-owned Crawford Nickel Sulphide Project $US1.2 billion NPV8% and 16%IRR. Feasibility study scheduled for mid 2022.
  • One of the top 10 nickel sulphide resources globally, with significant expansion potential from regional land package
  • Peak production of 42ktpa of nickel – would be one of five largest nickel sulphide operations when in production. 25 year mine life generates 842kt of nickel, 21 Mt of iron, and 1.5 Mt of chrome.
  • First percentile CO2e intensity according to Skarn Associates. Launched wholly-owned NetZero Metals Inc. to develop zero-carbon production of Nickel, Cobalt and Iron and applied for the trademarks NetZero NickelTM, NetZero CobaltTM and NetZero IronTM across several jurisdiction
  • Canada Nickel acquired 100 percent interest in the Bannockburn Nickel Property located near Matachewan Ontario.

Key Projects

Canada Nickel’s Crawford Project

Canada Nickel’s flagship Crawford nickel-sulfide project is located in Ontario’s Timmins mining camp, which is home to nearby mining infrastructure including the Kidd Metallurgical Site. The Timmins mining camp has a 100 year history of mining activity.

Canada Nickel filed its maiden resource at the Crawford project in February 2020, including a measured and indicated resource of approximately 263 million tonnes at 0.31 percent nickel, 0.013 percent cobalt, and 0.038 g/t palladium and platinum. Existing exploration establishes the resource as one of the 12 largest nickel sulfide assets in the world.

The company provided a mineral resource update for the project in October 2020. The update reported that measured resources in the Main Higher Grade Zone measured increased by 162 percent to 153 million tonnes (Mt) at 0.32% nickel and the total measured and indicated resource increased by 9 percent to 657 Mt at 0.26 percent nickel for 1.7 Mt nickel. Lastly, the total inferred resource increased by 121 percent to 646 Mt at 0.24 percent nickel for 1.6 Mt nickel, including an increase of 50 percent in the Main Zone (433 Mt at 0.23 percent nickel) and an initial resource from the East Zone of 213 Mt at 0.24 percent nickel (505,000 tonnes nickel).

The Crawford property was previously explored by Inco in the 1960s in each large anomaly, with minimal exploration conducted in the following decades. The land package was then owned by a forestry company before being acquired by Noble Mineral Exploration for resource purposes again in 2011. In December of 2019 ownership of the Crawford project was transferred from Noble Mineral Exploration to Canada Nickel in exchange for 12 million shares of Canada Nickel and $2 million in cash.

Canada Nickel believes the Crawford nickel-sulfide project shares similarities to the Dumont project. The Dumont deposit contains approximately 6.1 billion pounds of nickel in proven and probable reserves, with another 9.75 billion pounds of nickel resources in the measured and indicated category.

Significant Exploration Potential
>50% Crawford + Multiple New Targets

The 4,909 hectare Crawford Nickel-Sulphide Project and five other option properties ranging in size of 903 to 5,543 hectares give Canada Nickel access to five additional high potential, regional nickel targets.

Fully consolidated properties contain multiple nickel-bearing target structures 30km of total strike length and 150 – 600m wide

  • For reference, the Crawford Main Zone resource
    is 1.7 km long and 225-425 metres wide

Historic drilling yielded nickel-bearing intersections on all of the target structures

  • Kingsmill – 0.30% Ni over 503m from 118m in historic hole KML-12-02 (2012) and 0.31% Ni over 302m from 20m in historic hole 27090 (1966)
  • Nesbitt-North – 0.28% Ni over 163m from 233m in historic hole 27083 (1966)
  • Mahaffy-Aubin – 0.23% Ni over 127m from 82m in historic hole 31901 (1966) and of 276m of serpentinized ultramafic mineralization (similar host mineralization at Crawford) in historic hole T2-80-2 (1980) with no assays provided
  • Dargavel – 0.24% nickel over 173m with local assays up to 0.40% nickel in historic hole 25014

PGM-enriched structures similar to Crawford also identified at Kingsmill

  • 1.0 g/t PGM over 2m from 96m within 0.3 g/t PGM over 30m from 69m in historic hole KML-12-11 (2012), 0.8 g/t PGM over 5m from 523m within 0.5 g/t PGM over 24m in historic hole KML-12-07 (2012)

Airborne magnetic and gravity survey totaling 2,731 km completed.

Management Team

Mark Selby — Chairman and CEO

Mark was formally President & CEO of RNC Minerals (Royal Nickel Corporation) where he led a team that successfully raised over $100 million and advanced the Dumont nickel-cobalt project from initial resource to a fully permitted, construction-ready project. He has held a number of senior management roles with Quadra Mining, Inco, and Purolator Courier, and was a partner at Mercer Management Consulting.

Since 2001, Mr. Selby has been recognized as one of the leading authorities on the nickel market. He graduated from Queen’s University with a Bachelor of Commerce (Honours) and has also served on the boards of multiple junior mining companies and is currently a Director and Chair of Orford Minerals.

Wendy Kauffman — CFO

Wendy brings more than twenty-five years of experience leading junior and mid-tier publicly-listed mining companies in project financing, capital structuring, capital markets, accounting and internal controls, tax, and financial reporting and public disclosure. Her skills and experience include the completion of a $4 billion finance package for Cobre Panama during her time at Inmet Mining, one of largest finance packages assembled by mid-tier mining company. She was also previously the CFO at Khiron Life Sciences Corporation and held CFO and senior finance positions at Pasinex Resources Limited, Primero Mining Corporation and Inmet Mining Corporation. Wendy holds a Bachelor of Business Administration from Wilfrid Laurier University and is a Chartered Professional Accountant (CPA, CA).

Steve Balch — VP of Exploration

Steve is an Ontario registered geoscientist with 32 years of experience in geophysics, specializing in the magnetic and electromagnetic methods, but also with experience in large exploration compilations. After working at Inco for six years in the Sudbury Basin and at Voisey’s Bay, Steve joined Aeroquest in 2001 and helped develop the AeroTEM system, focusing on the on-time measurements of the linear triangular waveform. In 2007, Mr. Balch founded Triumph Instruments and developed the AirTEM system, a multi-coil helicopter-borne EM system that is now in use in Mexico, China, Canada, and Eastern Europe. Steve has also been active in borehole geophysics and has worked to develop new technology including north-seeking gyros, temperature compensated induction conductivity probes, UAV-based magnetometers, and high sensitivity magnetic gradiometers.

David Smith — Director

David is Senior Vice-President, Finance and Chief Financial Officer of Agnico Eagle and has held this position since 2012. He has also held the position of Senior Vice-President, Strategic Planning and Investor Relations. Prior to joining the Company’s investor relations team in 2005, Mr. Smith, a Professional Engineer, was a mining analyst and held a variety of mining engineering positions in Canada and abroad. He is a Chartered Director holding a Directorship with Sprott Resource Holdings Inc. and is formerly a Director at eCobalt Solutions Inc. He holds a B.Sc. (Queen’s University) and M.Sc. in Mining Engineering (University of Arizona).

Mike Cox — Director

Mike has over thirty years of experience in Base Metal operations with Inco Ltd and Vale SA. He has held a number of senior leadership positions in Europe, Canada and Asia including the oversight of operations which have delivered nickel products to consumers for use in multiple generations of nickel batteries. Most recently, Mr. Cox was Head of UK and Asian Refineries at Vale with responsibility for a portfolio of precious metal and nickel refineries. He is now a Managing Partner at CoDa Associates, a consultancy that provides a range of advisory services to the corporate and public sectors in Europe and Asia. Mr. Cox holds a BSc (Hons) in Chemistry and an MBA, both from the University of Glamorgan.

Canada Nickel Company Announces Assay Results and Confirms Discovery at Reid Property

Canada Nickel Company Announces Assay Results and Confirms Discovery at Reid Property

Highlights

  • Assays achieved expected grades over entire core length of 354 metres: 0.24% nickel including 15 metres of 0.39% nickel and 6 metres of 0.57% nickel
  • Confirmed same mineralogy as Company's flagship Crawford Project
  • Reid property has larger geophysical footprint than Crawford
  • Crawford resource update expected to be released by July 6, 2022

Canada Nickel Company Inc. ("Canada Nickel" or the "Company ") (TSXV: CNC) (OTCQX: CNIKF) announced today assay results at its Reid property, where two drill holes have been completed as part of its regional exploration program. Drilling was highlighted by hole REI21-02 which intersected 354 meters of 0.24% nickel and includes 15 meters of 0.39% nickel and 6 meters of 0.57% nickel. Mineralogy completed on samples from these holes confirmed that they contain the same heazlewoodite-pentlandite-awaruite minerals as Crawford.

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Canada Nickel Completes Additional Property Acquisitions

Canada Nickel Completes Additional Property Acquisitions

Canada Nickel Company Inc. (" Canada Nickel " or the " Company ") (TSXV: CNC) (OTCQX: CNIKF) is pleased to announce that it has entered into an agreement with Grid Metals Corp. ("Grid") (TSXV: GRDM; OTCQB: MSMGF) on June 6, 2022 to acquire a 100% interest in the Bannockburn Nickel Property located near Matachewan Ontario and to provide further details on other recently acquired properties.

Mark Selby , Chair and Chief Executive Officer said, "The acquisition of Bannockburn is highly complementary to our southern cluster of properties at Sothman, Midlothian, and Powell.
The Bannockburn "B" zone has already been successfully tested for 600 metres of its total 1.3 kilometre strike length with multiple intervals in excess of 0.3% nickel and has smaller, higher grade potential at other zones on the property. Historical mineral processing work confirmed presence of heazlewoodite, similar to Crawford, and the ability to generate a 35% nickel concentrate."

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Canada Nickel Takes Important Step in Crawford Nickel Project Permitting Process

Canada Nickel Takes Important Step in Crawford Nickel Project Permitting Process

Canada Nickel Company Inc. ("Canada Nickel" or the "Company ") (TSXV: CNC) (OTCQX: CNIKF) is pleased to announce submission of the preliminary draft of the Initial Project Description ("IPD") to the Impact Assessment Agency of Canada ("the Agency") following the related signing of ground-breaking Impact Assessment Process Agreements ("Impact Assessment Agreements" or "IA Agreements") with Taykwa Tagamou Nation, Matachewan First Nation, and Mattagami First Nation.

Canada Nickel Logo (CNW Group/Canada Nickel Company Inc.)

Mark Selby , Chair & CEO of Canada Nickel said, "This is an important first step in the permitting process for Crawford. Since the founding of the Company, our approach has been to work with Indigenous communities and local stakeholders as partners in order to create shared value through economic opportunities, while also being respectful and responsible stewards of the natural environment. These ground-breaking Impact Assessment Agreements foster full participation of Indigenous Communities in the federal Impact Assessment process for the development of the Crawford Nickel Project."

"Taykwa Tagamou Nation is proud of the partnership we have with Canada Nickel. This innovative model of applying Traditional Knowledge through a land use study enables our community to both understand the project's impacts through all stages of its life cycle, while ensuring that, as the stewards of our Traditional Territory, development is conducted in an environmentally sustainable manner", said Chief Bruce Archibald .

"True Indigenous partnerships, such as ours with Canada Nickel, provide certainty for proponents, along with economic opportunity for Northern Ontario and impacted Indigenous communities," said Deputy Chief Derek Archibald . "With this certainty, Taykwa Tagamou Nation is meaningfully participating in the project's economic development from beginning to end".

Chief Chad Boissoneau , of Mattagami First Nation, commented "Agreements of this nature, built upon honest and genuine relationships, benefit both the First Nation and the Proponent. First Nations can fully participate in the Impact Assessment of a major project on our Traditional Land, while supporting Canada Nickel in making properly informed, sustainable, and respectful decisions about a project that stands to be of great benefit to our community."

An Important Step for the Crawford Nickel Project

The submission of the preliminary draft of the IPD to the Agency initiates a precursory review period of the document. This review period, coinciding with Canada Nickel's independent Indigenous and public consultation program for the IPD, will enable Canada Nickel to integrate feedback from both the Agency's review and Canada Nickel's engagement activities into the final draft of the IPD, expected to be formally submitted in summer 2022.

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 benefits and resolve or mitigate the potential impacts of a proposed major project. The IPD is a key phase in the early planning and development of a modern mining project.

Impact Assessment Process Agreements

The signing and implementation of the IA Agreements further validates the meaningful and productive relationships developed between Canada Nickel and Taykwa Tagamou Nation, Matachewan First Nation, and Mattagami First Nation, and serves as tangible evidence of Canada Nickel's intention around full integration of Indigenous communities into the development of the Crawford Nickel Project.

The IA Agreements are intended to foster full participation of Indigenous communities in the federal Impact Assessment process, with a focus on community driven completion of Traditional Knowledge and Land Use and Socio-economic studies. In addition to outlining effective communication channels and platforms for meaningful engagement, the IA Agreements facilitate tangible capacity building within the communities that will extend beyond the timeline of and activities relating to the Crawford Project and Canada Nickel, including the hiring and training of a dedicated Impact Assessment Coordinator and the creation of an Impact Assessment Coordination Committee, comprised of representative, interested community members, including youth and elders.

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.

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SOURCE Canada Nickel Company Inc.

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Canada Nickel Announces New Nickel Discovery at Reid with Larger Footprint than Flagship Crawford Property Main Zone; Provides Update on Regional Exploration

Canada Nickel Announces New Nickel Discovery at Reid with Larger Footprint than Flagship Crawford Property Main Zone; Provides Update on Regional Exploration

Highlights

  • Reid Property – second hole of new discovery intersected dunite across entire 354 metre core length including an 84 metre highly mineralized interval.
  • All 21 holes drilled at Deloro , Reaume, and Nesbitt properties intersected target mineralization.

Canada Nickel Company Inc. ("Canada Nickel" or the "Company ") (TSXV: CNC) (OTCQX: CNIKF) today announced a new nickel discovery at its Reid property, where two drill holes have been completed as part of its regional exploration program. Drilling has commenced at Reid, as well as the Company's Deloro and Reaume properties, and assays from earlier drilling at Nesbitt have been received.

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Canada Nickel Announces Closing of $51.6 Million Bought Deal Public Offering

Canada Nickel Announces Closing of $51.6 Million Bought Deal Public Offering

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Canada Nickel Company Inc. (" Canada Nickel " or the " Company ") (TSXV: CNC) (OTCQX: CNIKF) is pleased to announce that it has closed its previously-announced "bought deal" offering (the " Offering ") for aggregate gross proceeds of C$51,554,156.70 which includes the exercise of the Underwriters' over-allotment option. Under the Offering, the Company sold the following:

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Rafaella Resources Limited

Drill Assays From San Finx Sn-W Mine Confirm Significant Extensions of The High-Grade Vein Mineralisation

Rafaella Resources Limited (ASX:RFR) (‘Rafaella’ or the ‘Company’) is pleased to announce that assay results from three exploration diamond drillholes (‘DDH’) drilled, but never assayed, in 2015 by Valoriza Minería S.L.U. (‘Valoriza’) returned high tin grades from cassiterite mineralisation. These results will be included for the ongoing 3D geological model of the vein system and for a maiden JORC compliant Mineral Resource Estimate (MRE) for its 100% owned San Finx tin and tungsten mine1 (“San Finx”).

Investment Highlights

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Renforth Resources

Renforth Commences Follow Up Work on Recently Discovered Battery Mineralization at Surimeau

Renforth Resources Inc. (CSE:RFR) (OTC:RFHRF) (FSE:9RR) ("Renforth" or the "Company") is pleased to inform shareholders that field operations at Surimeau have resumed, our team of geologists will be following up on the visual mineralization encountered in the May 2022 program with additional prospecting and mapping in the area, stripping and channel sampling.

  • Geologist crew back in the field at Surimeau for follow up channel sampling in areas of the best visual mineralization discovered during May 2022 program.
  • Target areas include mineralization at the western end of the ~20km Victoria Mag/EM structure and newly revealed mineralization at LaLonde.
  • Assay results from the May 2022 program are still not yet received, fortunately, due to the visual nature of the nickel, cobalt, copper and zinc sulphides encountered on surface follow up work is possible.

    Information acquired in the May program, and which will be acquired in this next program, will allow Renforth to better define the surface extent of the battery minerals bearing Victoria Structure which stretches ~20km east to west across the central portion of our 330 sq. km. Surimeau property, road accessible adjacent to the. Canadian Malartic Mine and the Town of Malartic, Quebec.

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    sulphide copper nickel ore close-up

    Top 5 Nickel Stocks on the TSX and TSXV in 2022

    Click here to read the previous top nickel stocks article.

    After seeing huge gains earlier in the year, the nickel price has cooled, and shares of nickel-focused companies on the TSX and TSXV have subsided along with it.

    Back in Q1, nickel rocketed to US$100,000 per metric ton (MT) — an all-time high and a rise of 250 percent over the course of two days. In response, the London Metal Exchange suspended trading and canceled some trades.

    Even though prices have pulled back, many nickel companies are still up significantly year-to-date, which can't be said for all commodities in this struggling market.

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    Nickel Creek Platinum CEO Stuart Harshaw: This is Not Just a Nickel Play

    Nickel Creek Platinum President & CEO Stuart Harshawyoutu.be

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    Talon Metals Announces Results of AGM

    Talon Metals Corp. (TSX: TLO) ("Talon" or the "Company") is pleased to announce the results of its annual and special meeting of shareholders ("AGM") held today.

    All of the nominee directors listed in Talon's management information circular dated May 24, 2022 were elected as directors. The results of the shares voted in respect of the election of each director were as follows:

    News Provided by Newsfile via QuoteMedia

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    Rafaella Resources Logo

    Advanced Pre-Feasibility Study for Santa Comba Open Pit Confirms Strong Economics and Supports Re-Opening of Integrated Mine with 63% Increase in Ore Reserves

    Rafaella Resources Limited (ASX:RFR) (‘Rafaella’ or the ‘Company’) is pleased to announce the results of an advanced open pit pre-feasibility study (Advanced PFS) conducted at the Santa Comba Tungsten and Tin Project (“Santa Comba Project’ or the ‘Project’) in northwestern Spain. The PFS shows the Project to be economically robust, complementing the permitted underground mine and offering significant upside due to the obvious scalability.

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