FPX Nickel Completes Trade-Off Studies Demonstrating Tangible Improvements to the Baptiste Nickel Project

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to provide an update on key findings from a series of engineering trade-off studies (" TOS ") which have tangibly de-risked and improved the value of the Baptiste Nickel Project (the " Project "). These TOS focused on those project elements which have the strongest influence on overall Project value, with common objectives of optimizing Project economics, reducing the risk profile and better defining optionality ahead of the next study phase.

Highlights

A comminution circuit utilizing semi-autogenous grinding (" SAG ") tangibly improves project value and provides an improved execution basis versus the previously considered high-pressure grinding rolls (" HPGR ") approach
There is significant value in a phased construction approach, including an initial operating phase of 4-7 years at 100,000 tonnes per day (" tpd ") followed by an expansion to 150,000 tpd for the remainder of the 30-plus year mine life, versus the previously considered single-build 120,000 tpd approach
Multiple tailings storage locations have been identified as technically feasible, including conventional facility configurations with reduced sand requirements for dam construction, thereby enabling finer primary grinding to increase nickel recovery
An improved understanding of options for routing of the site access road and off-site power system, better defining the economics of those linear facilities

"The completion of these trade-off studies marks a significant milestone for FPX, demonstrating our commitment to a methodical, risk-based approach to project development," noted Martin Turenne , the Company's President and CEO. "These findings have yielded a more robust project model, one which will contribute to lower development risk and improved project economics in the next stage of study."

Background

Following on the September 2020 release of the Baptiste Nickel Project Preliminary Economic Assessment (the " PEA "), the Company has been focused on both optimization and de-risking efforts ahead of the next study stage. Results from the Company's 2021 field and metallurgical testwork programs were fed into a series of value-based TOS conducted from the fourth quarter of 2021 through to the second quarter of 2022. The TOS were conducted with assistance from several of the Company's key service providers, including:

Ausenco Engineering Canada Ltd. – process facilities and on-site infrastructure
Moose Mountain Technical Services – mine design and engineering
Knight Piesold Ltd. – tailings and water management
Onsite Engineering Ltd. – site access road upgrades and alignment
Carisbrooke Ltd. – off-site power system options and alignment

While TOS results will be further refined at the commencement of the next formal Project study, the early addressing of optionality will allow the next study phase to be more efficient, focusing on robust project definition rather than optionality. In addition to improving Project value, the TOS findings provide a more mature technical and economic basis as the Company advances towards progressive engagement, consultation, and accommodation activities, thereby supporting more meaningful discussions and more informed decisions in defining the Project scope.

Comminution – Crushing and Grinding Circuits

The Company's comminution trade-off study looked at defining the best value crushing and grinding technology for the Project, with the PEA's HPGR flowsheet as a base case. Key criteria for this TOS were extracted from 2021 grindability and pilot-scale HPGR testwork (summarized in the Company's news release dated December 8, 2021 ) and augmented by benchmarking of other ultramafic deposits worldwide.

Initial screening of suitable technologies and configurations shortlisted conventional flowsheets utilizing either HPGR or SAG technologies. Further evaluations supported a holistic, value-based decision basis considering capital cost, operating costs, constructability, operability, maintainability, execution schedule, project footprint, and emissions.

Following evaluation, a SAG-based comminution circuit was definitively identified as best value, with contributing factors including:

Capital Cost – typical savings associated with SAG-based circuits versus HPGR (20-30%) are amplified due to Baptiste's site conditions, topography, and mineralization characteristics
Operating Costs – typical savings associated with HPGR-based circuits (20-25%) are muted due to the low-cost of low-carbon power in British Columbia and the Baptiste deposit's low abrasiveness
Constructability, Operability, Maintainability, Footprint, and Emissions – all favour a SAG-based circuit over an HPGR approach

Comminution TOS findings were validated through additional grindability testwork and an independent subject matter expert (" SME ") review of all testwork, flowsheet selection, and equipment sizing, with results confirming the TOS basis and recommendation.

Project Scale and Phasing

This trade-off study looked at challenging the PEA's single-build 120,000 tonne per day concentrator throughput scenario. This evaluation considered project scales ranging from 60,000 to 150,000 tpd as part of both single-build and phased construction approaches. Key differentiators in the TOS include reducing the initial project build burden, maximizing the mine's higher-grade profile during payback years, initial build versus expansion funding scenarios (financing versus free cash flow), and improved metallurgical flexibility during the initial operating years due to new grind size opportunities identified in the tailings trade-off study basis (see below).

Tangible value was identified in a phased construction approach, including an initial operating phase of 4-7 years at approximately 100,000 tpd, followed by an expansion to approximately 150,000 tpd. This initial throughput level reduces the initial capital burden and build intensity, with the expansion to 150,000 tpd resulting in a similar volume of total nickel produced as the single-build 120,000 tpd approach, but over a shorter total mine life.

This improved approach to project throughput and construction favourably impacts the Project's initial capital burden, better utilizes the mine grade profile, funds the expansion from free cash flow at the end of the PEA's identified payback period, and accelerates the overall resource extraction basis, all contributing to increased Project value.

Tailings Facility Location and Management Strategy

The tailings trade-off study looked at available tailings deposition locations and technologies, with the PEA tailings storage facility location and dam construction methodology as a base case. A preliminary tailings alternatives assessment looked for potential storage locations on a regional scale, with all viable technologies (including management of filtered tailings) and locations then shortlisted for further technical evaluation.

Further evaluation indicated that there are multiple conventional and technically viable options for tailings management, as well as hybrids thereof. Notably, options were identified which reduce the requirement for the coarse primary grind as presented in the PEA, thereby providing the Project with the opportunity to increase nickel recovery, which is particularly beneficial during the higher-grade initial operating years.

Learnings on the associated technical, environmental, social, and economic risks and opportunities of each option will be important inputs to the Company's planned multi-criteria analysis resulting in identification of a technically, environmentally and socially preferred strategy for tailings management. This process will include review and input from multi-disciplinary independent technical experts and Project partners and stakeholders.

Primary Grind Size

This trade-off study looked at an improved understanding of the impact of primary grind size on Project economics. A relatively coarse primary grind of 300 µm was considered in the PEA so that sufficient sand quantities would be available to support construction of the PEA tailings storage facility, which included a sand dam. The associated limiting impact on metallurgical recovery due to this coarse primary grind was clearly identified and included in the PEA financial model.

With the identification of multiple tailings locations and construction strategies which can utilize finer primary grinds, there is an opportunity to improve nickel recovery and overall Project economics. This TOS defined the opportunity associated with finer primary grind sizes and the results will seed upcoming evaluations as the Project configuration is further refined.

Linear Facilities – Site Access Road and Off-Site Power System

These studies looked at potential concepts and alignments for key linear facilities, including the site access road and off-site power system. The Access Road TOS confirmed the PEA's site access road upgrade approach, with the majority of the existing road network alignment confirmed as suitable for Project requirements. The Off-Site Power System TOS identified multiple technically feasible connection options to the British Columbia hydroelectric grid, including the associated impact of each on the Project basis. Results from both TOS will support the Company's planned engagement, consultation, and accommodation activities prior to the selection of final design concepts.

Andrew Osterloh , P. Eng., FPX Nickel's Qualified Person under NI 43-101, has reviewed and approved the technical content of this news release.

About the Decar Nickel District

The Company's Decar Nickel District claims cover 245 km ² of the Mount Sidney Williams ultramafic/ophiolite complex, 90 km northwest of Fort St. James in central British Columbia . The district is a two-hour drive from Fort St. James on a high-speed logging road.

Decar hosts a greenfield discovery of nickel mineralization in the form of a naturally occurring nickel-iron alloy called awaruite (Ni ₃ Fe), which is amenable to bulk-tonnage, open-pit mining. Awaruite mineralization has been identified in four target areas within this ophiolite complex, being the Baptiste Deposit, and the B, Sid and Van targets, as confirmed by drilling, petrographic examination, electron probe analyses and outcrop sampling on all four targets. Since 2010, approximately US $28 million has been spent on the exploration and development of Decar.

Of the four targets in the Decar Nickel District, the Baptiste Deposit, which was initially the most accessible and had the biggest known surface footprint, has been the focus of diamond drilling since 2010, with a total of 99 holes and 33,700 m of drilling completed. The Sid target was tested with two holes in 2010 and the B target had a single hole drilled in 2011; all three holes intersected nickel-iron alloy mineralization over wide intervals with DTR nickel grades comparable to the Baptiste Deposit. The Van target was not drill-tested at that time as bedrock exposures in the area were very poor prior to more recent logging activity. In 2021, the Company executed a maiden drilling program at Van, which has returned promising results comparable with the strongest results at Baptiste.

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 www.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 TSXV:FPX Base Metals Investing

FPX:CA

FPX Nickel Establishes Technical Advisory Committee with Representatives from Strategic Investors

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce the creation of a Technical Advisory Committee (" TAC ") to provide guidance to FPX's management regarding the exploration and development of the Baptiste Nickel Project (" Baptiste " or the " Project ") in central British Columbia .

The TAC includes representatives of FPX's three strategic investors, each holding an approximate 9.9% interest in the Company's issued and outstanding shares – Sumitomo Metal Mining, Outokumpu Oyj, and the confidential corporate strategic investor first announced in November 2022 .

The TAC will benefit from the contribution of members from each of the strategic investors with diverse experience covering mineral exploration, mine project development and operations, sustainability and external relations. The group will review project materials and meet with FPX management on a quarterly basis to address risks and opportunities pertaining to the development of Baptiste. Consistent with the terms of the Company's investor rights agreements with each of its three strategic investors, the mandate of the TAC is strictly of an advisory nature; decisions regarding the Project will be subject to the sole determination of FPX's management and board of directors.

"We are grateful for the engagement of our three strategic investors in supporting the development of Baptiste," commented Martin Turenne , FPX's President and CEO. "Each of the three strategic investors brings unique technical capabilities, collectively covering the key aspects of mining, processing and downstream nickel consumption in the stainless steel and electric vehicle battery supply chains. The FPX management team looks forward to benefiting from this technical collaboration as we continue to advance Baptiste."

Market Maker Services

On March 1, 2024 , FPX retained PI Financial Corp. (" PI ") to provide market-making services in accordance with the TSX Venture Exchange (" TSX-V ") Policies. As disclosed in the Company's March 1, 2024 news release, in consideration of the Market Making Services, the Company is paying PI a monthly fee for a minimum term of three months. For additional clarity, the agreement provides an initial term of 12 months, which after three months may be terminated by the Company upon 30 days' written notice‎. After the initial 12-month term, the agreement continues on a month-to-month basis for an unspecified period. As of March 1, 2024 , PI did not have any interest, directly or indirectly in FPX or its securities, and did not possess any right to acquire such interest.

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 Outlines Baptiste Nickel Project Advancement Activities

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to outline plans for advancement of the Baptiste Nickel Project (" Baptiste " or the " Project ") in 2024. Building on the completion of the robust 2023 preliminary feasibility study (" PFS "), the Company's strategy is designed to prioritize critical path activities in preparation for entry into the Provincial and Federal environmental assessment (" EA ") in the first quarter of 2025.

Highlights

Critical readiness activities for the EA are focused on three key areas:
- Collaboration with Indigenous communities: Achieved through building of relationships and progression towards establishment of EA agreements with potential participating Indigenous communities. This will include enshrining protocols for collaborative decision-making and consent-based processes with each community.
- Cultural and environmental baseline studies: FPX is committed to an Indigenous-led baseline program, and the Company's ongoing and expanded program will continue to build the comprehensive dataset required for the EA process and engineering studies.
- Engineering studies and feasibility readiness: Through desktop and laboratory programs, the Company will continue to refine key Project elements, readying the project for the EA and feasibility study processes.

"FPX is focused on prioritizing and advancing the key workstreams to successfully enter the EA process, which sits along the critical path for the overall development of the Baptiste Nickel Project," commented Martin Turenne , FPX's President and CEO. "We are committed to executing project development activities in partnership with Indigenous communities in the Project area and look forward to supporting the development of Canada's critical minerals ecosystem in keeping with our core values of safety, respect, and collaboration."

Collaboration with Indigenous Communities

In 2024, the Company will work to establish EA agreements with all potential participating Indigenous communities. FPX is committed to building relationships with Indigenous communities early and through inclusive processes, to providing resources to enable engagement and collaborative decision-making, to enabling Indigenous communities to advance self-determined goals, and to optimizing long-term sustainable benefits and opportunities connected to the Project.

FPX will continue collaborative Project design in advance of the EA process, building on a series of mine design workshops initiated in 2023. Initial discussions in these workshops have focused on community values and preliminary learnings from Indigenous-led environmental baseline studies and have emphasized the importance of respect and protection of the environment.

A collaborative decision-making process with Indigenous communities is planned in 2024 to determine key aspects of mine design including tailings facility location and powerline routing, in advance of entering the EA process. Agreements with Indigenous communities are a priority for the Company in 2024 as they will be a mechanism to formalize these commitments and initiatives.

Cultural and Environmental Baseline Studies

Cultural and environmental baseline studies have been ongoing for the Baptiste Nickel Project since early 2022 and include surface water hydrology and water quality, wildlife, vegetation, fisheries and aquatics, and archeology programs. Ongoing and expanded 2024 programs have been scoped in preparation for the EA process. The 2024 field program will include an expansion of activities in the Project area, and commencement of studies focused on linear infrastructure, including the Project access road and powerline corridors.

FPX is committed to the ongoing execution of an Indigenous-led cultural and environmental baseline program. To achieve this, the Company has prioritized engagement of Indigenous-owned businesses and partnerships, such as Shas-Ti Environmental LP and Sasuchan Environmental LP, to ensure integration of Indigenous perspectives into the scoping and execution of these studies.

"The environmental consulting group Ecofor and the community of Binche have a long history of working together and in 2022 this was formalized by the establishment of Shas-Ti Environmental, a partnership undertaking the Indigenous-led baseline studies and training of community members for the Baptiste Nickel Project," commented Dwayne Martin , Community Liaison Manager for Shas-Ti Environmental. "A Dakelh phrase that guides our approach to collaboration is Alhgoh 'uts'ut'en, meaning we all work together . We are extremely proud of the work we are doing and that FPX is committed to this philosophy of working together."

Project Design & Engineering

Following completion of the PFS in October 2023 , the Company conducted a comprehensive planning exercise to define the path forward for Baptiste through project development and into production, and to ensure the Company will enter the EA process with the level of engineering definition necessary to de-risk the overall Project timeline. In 2024, engineering work will be centered on metallurgical testing and value engineering activities.

Metallurgy

The PFS was robustly supported by an extensive metallurgical testwork program which included extensive bench and multiple pilot-scale testwork programs. The Company has now commenced the feasibility study (" FS ") metallurgical program, which is focused on refining select elements of the flowsheet while also completing the typical testwork elements required to support FS detailing.

The FS metallurgical program commenced with pilot-scale testing of the concentrator flowsheet to (a) refine select elements of the Baptiste concentrator flowsheet, and (b) produce sufficient awaruite concentrate to support larger-scale testwork of the downstream refinery flowsheet. The concentrator pilot-scale testwork program is nearing completion, and results along with the confirmed plan for refinery testwork for the production of battery-grade nickel sulphate will be presented in April 2024 . Both of these programs are being funded in part by a non-repayable grant from the federal government of Canada under the Critical Minerals Research, Development, and Demonstration (" CMRDD ") program.

Other elements of the FS testwork program in 2024 include the types of typical and routine testwork required to support FS detailing, including bulk material handling characterization, solid-liquid separation, comminution variability, briquetting, and flotation tailings leach optimization testwork. Additionally, the Company will evaluate the potential opportunities which were presented in the PFS, such as nickel sulphide flotation and upgrading of a potential iron ore concentrate. The FS testwork program is expected to run through to 2025, and material findings will be sequentially released when completed.

Value Engineering

Building on the technical and commercial viability demonstrated in the PFS, the Company has commenced a value engineering program which looks to further improve project value, and also provide suitable layout and execution certainty ahead of the EA process. To this effect, concurrent value engineering studies are focusing on optimization of the following areas: process plant design, overall site layout, carbon intensity, and linear infrastructure (access road and powerline).

The value engineering exercise has identified several potential improvements to the conceptual Project design; the Company will report the full results of the value engineering program in the second quarter of 2024. Technically and economically feasible alternatives that are identified through value engineering will be further evaluated through collaboration with Indigenous communities, as described above.

Feasibility Study Planning

The Company will also progress scoping and planning for the 2025 field season, which will focus on data collection to support the feasibility study, including geotechnical investigations, continued environmental baseline data collection, and resource drilling.

Andrew Osterloh , P.Eng., FPX's Senior Vice President, Projects & Operations, FPX's Qualified Person under NI 43-101, has reviewed and approved the scientific and technical content of this news release.

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 www.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 Appoints Market Maker

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce that it has retained PI Financial Corp. (" PI ") to provide market-making services in accordance with the TSX Venture Exchange (" TSX-V ") Policies.

PI, an investment dealer located in Vancouver, British Columbia , will trade the securities of FPX on the TSX-V, adhering to regulatory exchange policies to maintain a reasonable, fair market and to enhance the liquidity of the Company's shares (" Market Making Services "). In consideration of the Market Making Services, the Company will pay PI a monthly fee of $5,000 for a minimum term of three months. After three months, the agreement with PI may be terminated by the Company at any time upon 30 days' written notice. FPX and PI are unrelated and unaffiliated entities. PI will not receive shares or options as compensation and the capital used for market-making will be provided by PI.

About the Decar Nickel District

The Company's Decar Nickel District represents a large-scale greenfield discovery of nickel mineralization in the form of a naturally occurring nickel-iron mineral called awaruite (Ni ₃ Fe) hosted in an ultramafic/ophiolite complex. FPX's mineral claims cover an area of 245 km ² west of the Middle River and north of Trembleur Lake, in central British Columbia. Awaruite mineralization has been identified in several target areas within the ophiolite complex including the Baptiste Deposit and the Van Target, as confirmed by drilling, petrographic examination, electron probe analyses and outcrop sampling. Since 2010, approximately US $30 million has been spent on the exploration and development of Decar.

Of the four targets in the Decar Nickel District, the Baptiste Deposit has been the focus of increasing resource definition (a total of 99 holes and 33,700 m of drilling completed), as well as environmental and engineering studies to evaluate its potential as a bulk-tonnage open pit mining project. The Baptiste Deposit is located within the Baptiste Creek watershed, on the traditional and unceded territories of 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 www.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 materially from those currently projected by management at the time of writing due to many factors the majority of which are beyond the control of FPX and its management. In particular, this news release contains forward-looking statements pertaining, directly or indirectly, to the following: the duration of the Marketing Making Services and the frequency of any trades in connection with the Market Making Services. These statements speak only as of the date of this release or as of the date specified in the documents accompanying this release, as the case may be. The Company does not assumes the obligation to update any forward-looking statement except as expressly required by applicable securities law.

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 Subsidiary CO2 Lock Corp. Achieves Successful Injection of CO2 at SAM Project in British Columbia

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to provide an update on the activities of CO2 Lock Corp. (" CO2 Lock "), its majority-owned subsidiary specializing in carbon capture and storage (" CCS ") via permanent mineralization. CO2 Lock has completed a comprehensive field program at its SAM site in central British Columbia including the first-ever successful injection of CO 2 into a brucite-rich ultramafic mineral project. This achievement marks a significant milestone in the development of CO2 Lock's innovative in-situ CO 2 mineralization technology.

Highlights

Successful injection of CO ₂ at depth, with downhole sensors verifying the desired CO ₂ content throughout the carbonated water injection, bolstering confidence in the effectiveness of CO2 Lock's proprietary approach
Geological analysis confirms that the SAM deposit has promising mineralogy for CO ₂ mineralization and permanent storage, with high values of brucite (key carbon-reactive mineral)
Extraction of multi-tonne surface bulk sample for use in an ex-situ CO ₂ mineralization pilot at CO ₂ Lock's laboratory in the Vancouver area

"The promising geological analysis and successful demonstration of the CO ₂ injection into the SAM project highlight the significant potential of CO2 Lock's in-situ mineralization technology," commented Martin Turenne , FPX's President and CEO. "We look forward to seeing CO2 Lock's next steps in advancing its proprietary approaches to both in-situ and ex-situ carbon mineralization at its SAM project."

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FPX Nickel Appoints Kim Baird to Board of Directors

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce the appointment of Kim Baird C.M., O.B.C., Hon LL.D. to the Board of Directors, effective immediately. Ms. Baird is an accomplished leader and strategic advisor working with Indigenous communities, governments, businesses and other organizations. In her prior role as the elected Chief of the Tsawwassen First Nation, she negotiated and implemented British Columbia's first modern urban treaty, establishing for the Tsawwassen People ownership and governance over their land and resources.

"We are honoured to welcome Kim to the FPX Board," commented the Company's Chairman, Peter Bradshaw . "Kim is a distinguished expert in Indigenous policy, governance, and economic development and is a highly-regarded advocate for Indigenous peoples. Kim brings expertise in major infrastructure projects and the associated opportunities for economic reconciliation and Indigenous participation in these projects. She will be a tremendous addition to the FPX team as we continue advance our flagship Baptiste Project."

Ms. Baird currently acts as the Chancellor of Kwantlen Polytechnic University and as the interim Chief Administrative Officer for the Tsawwassen First Nation. She previously served on the boards of BC Hydro and the Greater Vancouver Board of Trade, and currently serves as a director on several boards including the Canada Infrastructure Bank. She is a member of both the Order of Canada and the Order of British Columbia , and has been the recipient of several distinguished awards, including the British Columbia Reconciliation Award (2022) and the Queen Elizabeth Platinum Jubilee Award (2022).

The appointment of Ms. Baird is subject to receipt of approval from the TSX Venture Exchange and the Securities Regulatory Authorities.

Grant of Restricted Share Units

The Company has awarded an aggregate of 3,985,000 restricted share units (" RSUs ") under the Company's share compensation plan to officers, employees and non-executive directors. The RSUs will vest in three equal installments on the annual anniversaries and each vested RSU will entitle the holder to receive one common share of the Company or the equivalent cash value upon settlement.

About the Decar Nickel District

The Company's Decar Nickel District represents a large-scale greenfield discovery of nickel mineralization in the form of a naturally occurring nickel-iron mineral called awaruite (Ni ₃ Fe) hosted in an ultramafic/ophiolite complex. FPX's mineral claims cover an area of 245 km ² west of the Middle River and north of Trembleur Lake, in central British Columbia. Awaruite mineralization has been identified in several target areas within the ophiolite complex including the Baptiste Deposit and the Van Target, as confirmed by drilling, petrographic examination, electron probe analyses and outcrop sampling. Since 2010, approximately US $30 million has been spent on the exploration and development of Decar.

Of the four targets in the Decar Nickel District, the Baptiste Deposit has been the focus of increasing resource definition (a total of 99 holes and 33,700 m of drilling completed), as well as environmental and engineering studies to evaluate its potential as a bulk-tonnage open pit mining project. The Baptiste Deposit is located within the Baptiste Creek watershed, on the traditional and unceded territories of 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 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.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2024/07/c3331.html

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Ascendant Reports Significant Metallurgical Improvements at Its Lagoa Salgada VMS Project, Portugal

Results demonstrate ability to produce saleable and highly marketable Zinc and Lead concentrates from the Primary Massive Sulphide domain.
Significant improvement in Zinc recoveries (13% increase) and concentrate grades (22% increase) compared to the Feasibility Study.
Metallurgical results, completed at coarser grind sizes supporting simplified flow sheet and lower capital and operating costs relative to the Feasibility Study.
Further improvement anticipated from additional ongoing metallurgical optimization test work.

Ascendant Resources Inc. (TSX:ASND)(OTCQX:ASDRF);(FRA:2D9) ("Ascendant" or the "Company") provides an update on the optimization metallurgical test program on the primary massive sulphides ("PMS") domain at Lagoa Salgada. The Massive Sulphides are the highest margin domain and a large value driver of NPV for the Lagoa Salgada Project. Bench scale metallurgical testing on composite samples from the PMS ore body were completed by Maelgwyn Metallurgical Laboratories (South Africa) with oversight from Minepro Solutions (Spain) and DRA Global (South Africa

Following completion of the July 2023 43-101 Feasibility Study ("FS"), Ascendant initiated an optimization program for metallurgical performance to improve metal recoveries, concentrate grades and characterization of the deleterious elements in order to enhance the revenue potential for its Lagoa Salgada Project. The initial phase of the optimization program has been focused on the Primary Massive Sulphide mineralization from its Venda Nova North Sector, as this zone is the major revenue contributor for the project and is exploited early in the mine life. In addition to the metallurgical work, the company continues to progress its environmental permitting activities and expects to be granted the permit in Q3/24 which would position Lagoa Salgada as the next mine ready project on the Iberian Pyrite belt.

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Canadian North Resources Inc. Announces Normal Course Issuer Bid Share

Canadian North Resources Inc. ("CNRI" or "the Company," TSXV: CNRI; OTCQX: CNRSF; FSE: EO0 (E-O-zero)) announces that it has filed with the TSX Venture Exchange a Notice of Intention to Make a Normal Course Issuer Bid ("NCIB") which is proposed to commence on April 10, 2024 and terminate on April 9, 2025 or the earlier of the date all shares which are subject to the Normal Course Issuer Bid are purchased.

In the opinion of the Board of Directors of the Company, the market price of the Common Shares does not accurately reflect the value of those shares. As a result, the Company intends to repurchase CNRI's Common Shares that may become available for purchase at prices, which make them an appropriate use of funds of the Company.

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	Cu (%)	Pb (%)	Zn (%)	Fe (%)	Ag (ppm)	As (ppm)	Bi (ppm)	Cd (ppm)	Hg (ppm)	Sb (ppm)
PMS Composite Sample	0.25	2.84	4.47	39.00	54.9	15,961.3	85.2	224.0	423.0	589.0

	July 43-101 Feasibility Study		Latest Test Results
PMS Results	Zn Concentrate	Pb Concentrate	Zn Concentrate	Pb Concentrate*
Primary grind Size (microns)	29	29	30	45
Regrind Size (microns)	15	7	15	10
Grade in Concentrate (%)	35%	30%	43%	24%
Primary Metal Recovery (%)	70%	60%	79%	53%

OPtioned Property – Mink Narrows
Time of Commitment	Cash or Royalty Payment	Consideration Shares	Dollar value of Work Commitment
Upon TSX Venture Exchange approval	$10,000 in cash	200,000
On or before August 14 th , 2024		The greater of 200,000 or $20,000 in Consideration Shares based on the ten-day volume weighted average trading price of the common shares of the Company at the time of issuance	$300,000
On or before August 14 th , 2025		The greater of 200,000 or $40,000 in Consideration Shares based on the ten-day volume weighted average trading price of the common shares of the Company at the time of issuance	$100,000
On or before April 14 th , 2026	$10,000 in cash	The greater of 300,000 or $60,000 in Consideration Shares based on the ten-day volume weighted average trading price of the common shares of the Company at the time of issuance	$200,000
On or before April 14 th , 2027	$10,000 in cash	The greater of 400,000 or $80,000 in Consideration Shares based on the ten-day volume weighted average trading price of the common shares of the Company at the time of issuance	$200,000
On or before April 14 th , 2028	$25,000 in cash	The greater of 500,000 or $100,000 in Consideration Shares based on the ten-day volume weighted average trading price of the common shares of the Company at the time of issuance	$200,000
On the Exercise Date	Royalty 2% NSR (1)
(1) A 2% NSR will be granted on the Property and all mineral dispositions related thereto on the exercise of the option by the Company. There is currently no buyback option on the NSR. (2) The option can be accelerated if the total cash, shares, and work commitments are met earlier than the schedule specified above.

FPX Nickel Completes Trade-Off Studies Demonstrating Tangible Improvements to the Baptiste Nickel Project

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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

J. Christopher Mitchell - Advisor

Dr. Peter M. D. Bradshaw - Chairman

Rob Pease - Director

William H. Myckatyn - Director

Peter Marshall - Director

James S. Gilbert, - Director

Anne Currie - Director

Dan Apai - Engineering Manager

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