FPX Nickel Completes Confirmatory Large-Scale Mineral Processing Pilot Testwork with Funding Support from the Government of Canada

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce that it has successfully completed a large-scale mineral processing pilot testing campaign for the Baptiste Nickel Project (" Baptiste " or the " Project "), the first significant component of the ongoing feasibility study (" FS ") metallurgical testwork campaign. Results from this testwork confirm the 2023 preliminary feasibility study (" PFS ") basis, thereby validating FPX's processing strategy, flowsheet, and key metallurgical criteria, including estimated recoveries. The pilot testing campaign was funded in part by a $725,000 grant from Natural Resources Canada (" NRCan ") under the Government of Canada's Critical Minerals Research, Development and Demonstration (" CMRDD ") program, which is advancing the commercial readiness of processing technologies that will support the development Canada's EV battery material supply chain.

Highlights

Pilot-scale mineral processing testwork is now complete, with metallurgical performance matching the 2023 PFS basis, confirming expected recoveries and other key performance criteria
Testwork identified multiple opportunities to further optimize the mineral processing flowsheet through further process simplification
Testwork produced sufficient high-grade concentrate (60% nickel) for pilot-scale testing of the downstream hydrometallurgy refinery for the production of battery-grade nickel sulphate
Preparations for the downstream hydrometallurgical refining pilot plant are underway, with results expected to be announced in the third quarter of 2024

"These first results from our FS metallurgical testwork program further validate the processing advantages of awaruite which were demonstrated in the Baptiste PFS," commented Andrew Osterloh , FPX Nickel's Senior Vice President, Projects & Operations. "Conducted with support from NRCan, this large-scale pilot program has demonstrated that the processing strategy, flowsheet, and metallurgical basis from the PFS are robust, and has identified further optimization opportunities to lower capital and operating costs. This is another positive step as we continue to advance Baptiste as a potential producer of disruptive quantities of low-carbon, low-cost, Canadian nickel."

Background

The Baptiste processing strategy leverages awaruite's distinct properties in a simple, yet robust flowsheet. The front end of the flowsheet utilizes magnetic separation to create a "magnetics rich" concentrate of awaruite and magnetite – a process made effective due to awaruite's intense ferromagnetism and high density. The back end of the flowsheet then utilizes conventional froth flotation to separate awaruite from magnetite – a process made effective due to awaruite's active surface properties and magnetite's general lack of floatability. Finally, based on awaruite's very high nickel content, a very high-grade nickel concentrate (60% nickel) can be produced.

Downstream of the mineral processing plant, awaruite's properties continue to provide distinct advantages, including unparalleled downstream market flexibility. Unlike conventional nickel mineral concentrates which have a high sulphur content, Baptiste's awaruite concentrate is nearly sulphur-free and low in deleterious elements, meaning it can bypass intermediate smelting and be used directly in stainless steel fabrication. Alternatively, the Baptiste awaruite concentrate is also an ideal feedstock for the production of high-purity, battery-grade nickel sulphate for the electric vehicle (" EV ") supply chain. The Company's PFS metallurgical testing programs have well demonstrated this flexibility, and the FS metallurgical testing program is expected to confirm these previous findings at an even larger scale.

Mineral Processing Pilot Plant

The primary objectives of the FS mineral processing pilot plant were (1) to further demonstrate the Baptiste concentrator flowsheet at a larger scale; and (2) to produce sufficient awaruite concentrate to conduct pilot-scale, continuous testing of the downstream hydrometallurgy refinery for the production of battery-grade nickel sulphate.

The testwork reported herein represents the third pilot-scale mineral processing campaign the Company has completed for Baptiste. Key parameters from each pilot plant are summarized in Table 1, highlighting that the FS pilot plant was conducted at a significantly greater scale and run time than previously completed campaigns, permitting a longer duration of steady-state operation.

Table 1 – Summary of Baptiste Pilot-Scale Mineral Processing Testing Campaigns

Pilot Campaign	2021	2022	2023/24
Metallurgical Testwork Program	PFS	PFS	FS
Ore Feed Rate	160 kg/h	210 kg/h	320 kg/h
Feed Material	Life of mine composite	Bulk sample from early mine plan years	Bulk sample from early mine plan years
Run Time	0.9 days	3.3 days	9.9 days
Unit Operations Tested	Magnetic Separation	Magnetic Separation and Flotation	Magnetic and Gravity Separation and Flotation
Objective	Flowsheet development and generation of magnetic concentrate for bench-scale flotation testing	Flowsheet validation and generation of flotation concentrate for bench-scale refinery testing	Further flowsheet validation and generation of flotation concentrate for pilot-scale refinery testing

The FS pilot plant followed the flowsheet defined in the 2023 PFS, but also tested multiple optimization opportunities. The tested flowsheet is presented in Figure 1, with blue unit operations representing continuously-tested PFS flowsheet elements and green unit operations representing potential flowsheet optimizations which were also tested.

The Company re-engaged Corem ( Quebec, Canada ) to conduct the FS pilot plant, building on their experience with previous piloting and numerous bench-scale programs for Baptiste. A total of 76 tonnes of material were processed in the pilot plant, resulting in approximately 9.9 days of continuous run-time in the primary grinding and magnetic separation circuits.

When operating under normal conditions, the FS pilot plant delivered metallurgical performance that closely matched the metallurgical performance assumed in the PFS. This includes stage-by-stage recoveries, as well as the ability to produce the high-grade nickel concentrate (60% nickel) envisioned in the PFS. While these were expected results, given the quality and scale of the PFS metallurgical testwork program, the success of the FS pilot plant nevertheless provides further validation for the proposed Baptiste processing strategy, flowsheet, and metallurgical basis. Examples of the awaruite concentrates produced in the pilot plant are presented in Figures 2 and 3.

Optimization Opportunities

The extended duration of the FS pilot plant also permitted trial of two flowsheet optimizations, firstly the production and upgrading of a gravity concentrate, and secondly the elimination of the second regrind and recleaning magnetic separation stage. As discussed below, both of these optimization opportunities have the potential to contribute to flowsheet enhancements that contribute to lower associated processing costs.

Early Recovery of Coarse, Liberated Awaruite to Final Concentrate

The second PFS pilot plant noted considerable circulating load of awaruite in the first regrind circuit due to the high specific gravity and malleability of awaruite and the use of a hydrocyclone to close the grinding circuit. Continuous testing during the FS pilot plant demonstrated the technical viability of using a centrifugal concentrator to recover coarse, liberated awaruite from grinding circuit recirculating loads. This approach is commonly applied in the gold industry to recover coarse gold particles. Gravity concentrates grading 20-40% nickel were produced, and then successfully upgraded to the final concentrate grade of 60% nickel using magnetic separation and flotation steps.

While the PFS envisioned advancing the coarse, liberated awaruite to the cleaner magnetic separation feed, the early recovery of this material to a final product reduces the risk of downstream overgrinding and its potential recovery impact. As such, FS pilot testwork clearly demonstrates that awaruite's high density can be effectively managed in an industrial grinding circuit.

Elimination of Secondary Regrinding and Recleaning Magnetic Separation

The second optimization trialed the elimination of the second regrind and recleaner magnetic separation circuits. To test this, cleaner magnetic separation concentrate was directly fed to froth flotation. Testwork showed overall recoveries comparable to the PFS flowsheet. For this approach, rougher concentrate would then be reground prior to cleaner froth flotation, but this would require a significantly smaller regrind circuit, resulting in process simplification, capital cost savings, and operating costs savings. This opportunity will be further investigated and validated in upcoming stages of the FS metallurgical testwork program, with the potential for additional processing cost benefits for the Project.

Hydrometallurgical Refinery Pilot Plant

The awaruite concentrate generated during the mineral processing plant will now be used in the downstream hydrometallurgical refining pilot plant. FPX has re-engaged Sherritt Technologies Ltd. to conduct this testwork, building on their successful completion of the previous batch-scale testing program in 2023. As noted in the Company's news release dated May 17, 2023 , the 2023 program successfully demonstrated FPX's proposed refinery flowsheet can produce battery grade nickel sulphate at the batch-scale, and FS testwork program will now aim to demonstrate similar findings at the pilot-scale. Preparations for this pilot plant are underway and results are expected to be announced in the third quarter of 2024.

Qualified Person

The metallurgical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101: Standards of Disclosures for Minerals Projects of the Canadian Securities Administrators (" NI 43-101 "). Testwork was supervised, reviewed, and verified by Kyle D. Marte , P.Eng., FPX Nickel's Principal Metallurgist and a "Qualified Person" as defined by NI 43-101.

About the Decar Nickel District

The Company's Baptiste Nickel Project represents a large-scale greenfield discovery of nickel mineralization in the form of a sulphur-free, nickel-iron mineral called awaruite (Ni ₃ Fe) hosted in an ultramafic/ophiolite complex. The Baptiste mineral claims cover an area of 245 km ² west of Middle River and north of Trembleur Lake, in central British Columbia. In addition to the Baptiste Deposit itself, awaruite mineralization has been confirmed through drilling at several target areas within the same claims package, most notably at the Van Target which is located 6 km to the north of the Baptiste Deposit. Since 2010, approximately US $30 million has been spent on the exploration and development of Baptiste.

The Baptiste Deposit is located within the Baptiste Creek watershed, on the traditional and unceded territories of the Tl'azt'en Nation and Binche Whut'en, and within several Tl'azt'enne and Binche Whut'enne keyohs. FPX has conducted mineral exploration activities to date subject to the conditions of agreements with First Nations and keyoh holders.

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at https://fpxnickel.com/ .

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

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FPX Nickel Announces Results of 2025 Annual General and Special Meeting

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce the results of its 2025 Annual General and Special Meeting held on June 26 2025.

Shareholders voted in favour of all items put forward by the Board of Directors and Management. Shareholders elected eight directors to the Company's Board, namely, Kim Baird , Peter M.D. Bradshaw , Anne Currie , James S. Gilbert , Peter J. Marshall , Andrew Osterloh , Robert B. Pease and Martin E. Turenne . The shareholders approved all other matters as proposed, including the appointment of DeVisser Gray LLP as the auditor of the Company and approval of the Company's 10% rolling share compensation plan.

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at https://fpxnickel.com/ or contact Martin Turenne , President and CEO, at (604) 681-8600 or ceo@fpxnickel.com .

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

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FPX Nickel Completes Production Run of Battery-Grade Nickel Sulphate to Support Discussions with Prospective EV Battery Supply Chain Partners

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce successful production of additional battery-grade nickel sulphate from its Baptiste Nickel Project (" Baptiste " or the " Project "). Building on the success of previous testing campaigns, a production run was completed to produce larger quantities of nickel sulphate crystals. The nickel sulphate samples, which meet the strict target specifications for battery applications, will be provided to selected prospective downstream partners including pCAM producers, battery companies, and automakers pursuing supply security, traceable sourcing, and low carbon intensity production.

"The production of high-purity nickel sulphate further positions us to engage in strategic discussions with prospective downstream partners across the global EV supply chain," commented Martin Turenne , FPX Nickel's President and Director. "This milestone further demonstrates the strategic flexibility of the Baptiste awaruite concentrate and the technical maturity of the awaruite refining process."

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FPX Nickel and JOGMEC Initiate Exploration at the Expanded Klow Property in British Columbia

FPX Nickel Corp. (TSX-V: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce planned exploration activities at the Company's Klow property (" Klow " or the " Property "), located 45 km north of the Company's Baptiste Nickel Project. Exploration will be 100% funded by the Japan Organization for Metals and Energy Security (" JOGMEC ") under the terms of an earn-in agreement which provides JOGMEC the option to earn up to a 60% interest in the Property. The Company has recently expanded the mineral claims at Klow by 600%, bringing the Property to 164 km 2 and is currently preparing a wide-ranging surface rock sampling program over the summer of 2025 with the goal of advancing Klow to drill-ready status.

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FPX Nickel Provides Update on Affiliate Company CO2 Lock Corp.

FPX Nickel Corp. (TSX-V: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to provide an update on the activities of its affiliate company, CO2 Lock Corp. (" CO2 Lock ").

Background

In 2022, FPX announced the formation of CO2 Lock as a self-funding subsidiary to pursue geoscience-related carbon capture and storage (" CCS ") opportunities via permanent mineralization of carbon dioxide. FPX retains 100% of the carbon credits associated with CCS on FPX's own properties, and can use any intellectual property developed by CO2 Lock for the benefit of FPX's own properties.

Since its inception, CO2 Lock has completed multiple field programs at its flagship SAM site in central British Columbia , including a successful CCS field program in 2023, which included drilling an exploration well. This achievement marked a significant milestone in the development of CO2 Lock's innovative in-situ CO ₂ mineralization technology.

Commercial Updates

In recent months, CO2 Lock has achieved several commercial milestones, including the signing of preliminary agreements with key counterparties in the CCS value chain as follows:

Letter of Intent with Cielo Carbon Solutions (" Cielo ") and Carbon Quest outlining the framework for capturing and sequestering 100,000 tonnes of CO ₂ per year, scaling up to a target of 1 million tonnes per year. This strategic relationship combines Cielo and Carbon Quest's point-source carbon capture solution with CO2 Lock's storage solution to create an end-to-end value chain from industrial emitters to the permanent storage of carbon dioxide.
Memorandum of Understanding with Ionada Carbon Solutions LLC (" Ionada ") to pursue a variety of commercial arrangements relating to the capture and storage of carbon dioxide and the related sale of carbon credits into the commercial market. The collaboration will integrate Ionada's proprietary carbon capture technology with CO2 Lock's permanent mineralization storage solutions, creating end-to-end carbon capture storage systems that are cost-effective and scalable.
Letter of Intent with a leading carbon marketplace platform (the " Platform "), under which the Platform will purchase up to 33% of the carbon credits generated annually from CO2 Lock's flagship SAM carbon sequestration site, representing the potential for over 300,000 verified carbon credits (tonnes) per year.

Following the successful field program in 2023, CO2 Lock has submitted an application for a carbon capture and storage exploratory reservoir license with British Columbia's Ministry of Energy and Climate Solutions. Receipt of this license would provide CO2 Lock with the regulatory approval to advance the project towards commercial operations at the SAM project.

CO2 Lock Financing and Restructuring

CO2 Lock recently completed the final $600,000 tranche of its latest funding round, which raised a cumulative total of $1.7 million through a Simple Agreement for Future Equity (" SAFE ") from third-party investors. Since its inception, CO2 Lock has raised a total of approximately $3.4 million from third-party investors.

In connection with the closing of the SAFE round, FPX and CO2 Lock have agreed to a restructuring of CO2 Lock's capital structure such that FPX's undiluted ownership interest in CO2 Lock has been reduced from approximately 88% (prior to the SAFE round) to 30% (on conclusion of the SAFE round). This restructuring better positions CO2 Lock to seek additional funding from third party investors going forward, while ensuring that FPX retains a meaningful ownership interest in CO2 Lock and enduring rights to utilize CO2 Lock's intellectual property for the benefit of FPX's own properties.

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Baptiste Nickel Project, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at https://fpxnickel.com/ or contact Martin Turenne , President and CEO, at (604) 681-8600 or ceo@fpxnickel.com .

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

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FPX Nickel Announces Board and Management Changes

FPX Nickel Corp. (TSX-V: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce the appointment of Dan Apai, P. Eng., as the Company's Vice President, Projects effective May 1, 2025 . Mr. Apai succeeds Andrew Osterloh who will be departing his role as a Company employee on May 9, 2025 . Further, the Company is pleased to announce that Mr. Osterloh will be nominated for election as a Board member at the Company's annual general meeting to be held on June 26, 2025 .

Martin Turenne , President and CEO of FPX stated, "On behalf of the Board of Directors, I would like to thank Andrew for his dedication and service to the Company. During Andrew's tenure and under his leadership, the Company has significantly improved the development basis for the Baptiste Nickel Project, including progressing technical maturity in the areas of metallurgy, engineering, and execution planning. We are grateful for his efforts and wish him the very best going forward."

Mr. Turenne continued, "I am delighted to welcome Dan to our senior management team. Dan has been a valuable contributor since he joined the Company in January 2023 as our Engineering Manager. Dan brings a wealth of knowledge from prior experience developing and commissioning multiple large-scale projects and his deep familiarity with Baptiste will ensure a smooth transition as we further advance the Project."

"We are very happy to welcome Andrew to the FPX Board," commented the Company's Chairman, Peter Bradshaw . "Andrew has demonstrated exceptional leadership in progressing Baptiste through the development of the prefeasibility and refinery studies. His deep understanding of the Project and strategic insights will be a significant asset to our Board. We look forward to his contributions as a Board member to the Company's continued success."

Mr. Osterloh joined FPX in June 2021 , bringing with him extensive experience from project management roles at Fluor Canada and site operations positions at several notable mining projects, including Eskay Creek (that is now being redeveloped by Skeena Gold & Silver) and Huckleberry, operated by Imperial Metals, both located in British Columbia . Mr. Osterloh will be assuming the role of VP, Engineering & Construction at Skeena Gold & Silver, as the Company undertakes redevelopment of the Eskay Creek Project.

Mr. Apai, the Company's Engineering Manager since January 2023 , has over twenty years' mining industry experience in civil engineering and engineering management over a diverse range of projects. As Principal Civil Engineer for Fluor Canada, he led study and detailed engineering works for numerous large-scale mining projects for clients including Teck, Newmont, BHP, First Quantum, Glencore, Josemaria Resources, and Newcrest. Dan's technical expertise includes site layout, earthworks, water management, linear facilities (i.e., roads, powerlines, pipelines), and water supply systems – all elements that strongly influence the capital intensity, permitability, and operability of mining projects. Mr. Apai is a Member of the Association of Professional Engineers of British Columbia and holds a Bachelor of Engineering from the University of Western Australia .

About the Baptiste Nickel Project

The Company's Baptiste Nickel Project represents a large-scale greenfield discovery of nickel mineralization in the form of a sulphur-free, nickel-iron mineral called awaruite (Ni ₃ Fe) hosted in an ultramafic/ophiolite complex. The absence of sulphur and our ability to connect to the BC Hydro grid means that Baptiste has the potential to be one of the lowest carbon-intensive nickel producers in the world and will produce a very high grade product that does not required any intermediate smelting or complex refining. The Baptiste mineral claims cover an area of 453 km ² west of Middle River and north of Trembleur Lake, in central British Columbia . In addition to the Baptiste Deposit itself, awaruite mineralization has been confirmed through drilling at several target areas within the same claims package, most notably at the Van Target which is located 6 km to the north of the Baptiste Deposit. Since 2010, approximately US$55 million has been spent on the exploration and development of Baptiste.

FPX has conducted mineral exploration activities to date subject to the conditions of agreements with First Nations and keyoh holders.

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Baptiste Nickel Project, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at https://fpxnickel.com/ or contact Martin Turenne , President and CEO, at (604) 681-8600 or ceo@fpxnickel.com .

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

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Bold Ventures Provides Update on Field Work at Burchell Property

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

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

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

(TheNewswire)

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

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

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

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

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Element	Units	Nickel Sulphate Crystals
Element	Units	Baptiste Typical Sample	Target Specification ¹
Nickel	wt%	>22	>22
Aluminum	ppm
Arsenic	ppm
Calcium	ppm	2
Cadmium	ppm
Cobalt	ppm	2
Chromium	ppm
Copper	ppm
Iron	ppm	1
Potassium	ppm
Magnesium	ppm	1
Manganese	ppm
Sodium	ppm
Lead	ppm
Silicon	ppm
Zinc	ppm	1
Note 1: Based on review of industrially available products and battery producers' requirements

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

FPX Nickel Completes Confirmatory Large-Scale Mineral Processing Pilot Testwork with Funding Support from the Government of Canada

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Decar Nickel District - Baptiste Project

2023 Preliminary Feasibility Study (PFS)

Downstream Integration and Refinery Study

Pilot-Scale Success and Government Support

Management Team

Martin Turenne – President, CEO and Director

Dan Apai - Vice President, Projects

Tim Bekhuys – SVP, Sustainability and External Relations

Felicia de la Paz – CFO and Corporate Secretary

Dr. Peter M.D. Bradshaw – Chairman

Peter Marshall – Director

Anne Currie – Director

James S. Gilbert – Director

Kim Baird – Director

Rob Pease – Director

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