FPX Nickel Delivers Updated Mineral Resource Estimate for Baptiste Nickel Project, Reporting Significant Improvement in DTR Nickel Grade and First Inclusion of Total Nickel, DTR Cobalt and DTR Iron Grades

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to report an updated mineral resource estimate for the Baptiste Nickel Project (" Baptiste " or the " Project ") at the Decar Nickel District (" Decar ") in central British Columbia. The 2022 mineral resource estimate incorporates results from 2021's in-fill drilling program and is based on a new geological modelling approach and newly improved dike model, all of which contribute to significantly improved Davis Tube Recoverable ("DTR") nickel grades. The 2022 mineral resource estimate also reports, for the first time, the content of total nickel and potential by-product elements, cobalt and iron.

Highlights

Significant improvement in DTR nickel grade, with a 6% DTR nickel grade increase in the indicated category and a 15% increase in the inferred category
First-time reporting of total nickel content facilitates more accurate benchmarking to other large-scale nickel projects and highlights the potential for recovery of non-DTR nickel in the Baptiste deposit
First-time reporting of DTR cobalt and DTR iron contents highlights potential new byproduct value sources for Baptiste
Improved mineral resource modelling approach and estimate basis developed in collaboration with Equity Exploration Consultants Ltd. (" Equity ") and Next Mine Consulting Ltd. (" NMC ")
An independent third-party review of the new modelling and estimation approach by SLR Consulting Ltd. (" SLR ", formerly Roscoe Postle Associates)
2022 mineral resource estimate will serve as the basis for the upcoming Baptiste Preliminary Feasibility Study (" PFS "), which is forecast for completion in the second half of 2023

"The new mineral resource estimate highlights the potential for improved project economics owing to a material increase in DTR nickel grade and new opportunities for recovery of cobalt and non-DTR nickel contained in the Baptiste deposit," noted Martin Turenne , FPX's President and CEO. "This marks an important de-risking step in the ongoing development of Baptiste as a large-scale, low-cost and low-carbon nickel project, setting the stage for the completion of our current metallurgical program which will culminate with the production of battery-grade nickel sulphate in the first quarter of 2023."

Approach

The new Baptiste Mineral Resource estimate incorporates results from 2021's successful in-fill drilling program (see the Company's news release dated March 14, 2022 ). The 2021 program included 17 holes totaling 2,856 metres, bringing total resource drilling to-date to 99 holes, totaling 33,695 metres. As previously reported, the 2021 Baptiste resource drilling program targeted the conversion of near-surface, higher-grade inferred resources to the indicated category.

The new modelling approach includes defined geological sub-domaining, grade shell modelling and more accurate modelling of dilutive dikes; collectively better representing the scale and characteristics of the Baptiste deposit. This compares to the previous approach applied in the 2020 Preliminary Economic Assessment (" PEA ") which solely used lithology domains and an assumed 3% removal of rock mass to account for waste or dike sections within the deposit.

Summary of Results

As seen in Table 1, along with updated tonnage and DTR nickel grades, the 2022 mineral resource estimate now includes total nickel, DTR cobalt, and DTR iron that all provide new potential value sources for Baptiste. In addition, the reporting of total nickel grade facilitates more accurate benchmarking with other large-scale nickel projects.

Table 1: 2022 Baptiste Deposit Pit-constrained Mineral Resource Estimate*

Category	Tonnes (Mt)	Grade				Contained Metal
Category	Tonnes (Mt)	DTR Ni (%)	Total Ni (%)	DTR Co (%)	DTR Fe (%)	DTR Ni (kt)	Total Ni (kt)	DTR Co (kt)	DTR Fe (kt)
Indicated	1,815	0.129	0.211	0.0035	2.40	2,435	3,828	64.4	43.5
Inferred	339	0.131	0.212	0.0037	2.55	444	720	12.5	8.6

*Notes for Tables 1 and 2:

Mineral Resource estimate prepared by Richard Flynn , P.Geo of NMC using ordinary kriging within grade shell domains and inverse distance squared in dike domains.
Resources are reported using the 2014 CIM Definition Standards and were estimated in accordance with the CIM 2019 Best Practices Guidelines.
Davis Tube magnetically-recovered ("DTR") nickel is the nickel content recovered by magnetic separation using a Davis Tube, followed by fusion XRF to determine the nickel content of the magnetic fraction; in effect a mini-scale metallurgical test. The Davis Tube method is the global, industry standard metallurgical testing apparatus for recovery of magnetic minerals.
Indicated resources are drilled on approximate 200 x 200 metre drill spacing and confined to mineralized lithologic domains. Inferred resources are drilled on approximate 300 x 300 metre drill spacing.
A cut-off grade of 0.06% DTR Ni was applied.
An optimized pit shell was generated using the following assumptions: US $8.50 per pound nickel price; pit slopes between 42-44°; nickel payability of 96%; mining recovery of 97% DTR Ni; process recovery of 85% DTR Ni; exchange rate of US$1.00 = C$0.77 ; and total operating cost and minimum profit of US$9.37 per tonne.
Totals may not sum due to rounding.
Mineral resources are not mineral reserves and do not have demonstrated economic viability.

As seen in Table 2, contained DTR nickel metal in the indicated category remains unchanged at 2.435 million tonnes, with an approximate 9% reduction in tonnage offset by an approximate 6% increase in DTR nickel grade. The indicated grade increase is primarily due to (a) the introduction of grade shell modeling; and (b) the exclusion of near or below cut-off grade material within the mineralized zone through the improved dike model; and (c) the conversion of previously inferred higher-grade material through the inclusion of 2021 in-fill drilling data.

In the inferred category, tonnage is down by 42%; however, the average DTR nickel grade has increased by 15% which mutes the reduction in contained DTR nickel metal to 34%. The reduction of inferred tonnage is due to (a) conversion of inferred to the indicated category; and (b) the exclusion of near or below cut-off grade material at the periphery of the mineralized zone through the new geological modelling approach.

Table 2: Updated Baptiste Resource Estimate vs. 2020 PEA Resource Estimate

Category	Tonnes (MT)			Grade (DTR Nickel)			Contained Metal (DTR Nickel, kt)
Category	2020 PEA	2022 Resource Estimate	Change (%)	2020 PEA	2022 Resource Estimate	Change (%)	2020 PEA	2022 Resource Estimate	Change (%)
Indicated	1,996	1,815	-9 %	0.122	0.129	+6 %	2,435	2,435	-
Inferred	593	339	-42 %	0.114	0.131	+15 %	675	444	-34 %

Geological Model Update

The new modelling approach includes defined geological sub-domaining, new grade shell modelling and an improved dike model to provide an improved basis for the exclusion of near or below cut-off grade material for mine design purposes. This compares to the previous approach, applied in the 2020 PEA, which solely used lithology domains and an assumed 3% removal of rock mass to account for waste or dike sections within the deposit.

The new grade shell modelling methodology includes grouping of DTR nickel intercepts into high-, medium-, and low-grade domains. As seen in Figure 1, this approach defines two high-grade DTR nickel domains (>0.10% DTR nickel), each surrounded by a medium-grade domain (0.08-0.10% DTR nickel) and collectively bound by a low-grade halo (0.06-0.08% DTR nickel). This grade shell domaining has been used in conjunction with geological sub-domaining to further refine and accurately model the internal deposit variability.

The newly improved dike model incorporates data from 2021's in-fill drilling program, previously unincorporated oriented core drilling, surface geophysics, and lithological logging. Within the deposit, two dike swarms are interpreted to strike northwest to southeast and wrap around the intrusion to the east of the deposit. The updated interpretation now has a 95% coincidence between wireframes and assays. The previous explicit model had a much lower coincidence at less than 65%, which means dike grades in the 2020 mineral resource estimate were associated with serpentinized peridotite and vice versa.

Dikes are non-mineralized, steeply dipping, and have widths ranging from an average of 2 to 3 metres up to 15 metres. Separation of dike and mineralized material during mining is considered feasible due to the consistency of dike orientation and visual distinction between the respective rock types. Figure 1 presents a plan view of the grade shell model within the mineralized peridotite and the orientation of the dike swarms. Figure 2 presents a cross section through the thickest part of the deposit (Section A-A' from Figure 1).

The Company expects to publish the results of the updated Baptiste Mineral Resource estimate with a NI-43-101 compliant PFS report in the second half of 2023.

Data Verification

The data used in this Mineral Resource estimate is supported by industry standard Quality Assurance and Quality Control (" QA/QC" ) procedures, such as the insertion of certified standards and blanks into the sample stream and the utilization of certified independent analytical laboratories for all assays. Historical QA/QC data and methodology on the project were reviewed and will be presented in detail in the upcoming PFS technical report. No significant QA/QC issues were discovered during review of the data.

All geological data used in the Mineral Resource estimate was reviewed and verified by Ron Voordouw , PhD, P.Geo. (Director of Geoscience at Equity) and Richard Flynn , P.Geo. (Principal Consultant at NMC). Mr. Voordouw and Mr. Flynn visited the Baptiste project from July 3 ^rd to 5 ^th , 2022. The site visit included a review of historical and recent drill core; a review of procedures used to collect, record, store and analyze project exploration data; independent sampling of ten duplicate assays sent for analysis; observation of drill hole locations; and an overview of claim/property boundaries.

NMC compared a portion of the original laboratory data certificates, geological logs, and downhole deviation in surveys within the drillhole database. The database subset was compared line-by-line to the fundamental data and no material errors were observed during the review. The verification data represents approximately 5% of total drilling.

Assays were composited at 5 metres to match the block size in the z-direction. DTR nickel composite grades within the updated grade shell sub-domains of the mineralized peridotite and the dikes illustrate adequate stationarity.

Specific gravity was assigned based on lithology with only minor changes from the 2018 values; updating was based on an additional 224 measurements to bring the total number of measurements to 1,202.

Estimation

Kriging parameters, search parameters and anisotropy were determined with semi-variograms for DTR nickel content using composites falling within the mineralized domains. As presented in Figure 3, models showed a maximum range of 1,500 metres. The resulting search ellipsoid has a major axis trending at an azimuth of 110° with a near vertical semi-major axis.

The block model was created in Leapfrog Edge using a block size of 10 metres x 10 metres x 5 metres, while the previous block model was created in Surpac using a block size of 10 metres x 10 metres x 10 metres.

DTR nickel grades within the corresponding domains were estimated in two passes using ordinary kriging (" OK ") for grade shells and inverse distance squared (" ID ² ") for the dikes. A single pass nearest-neighbour (" NN ") estimate was used to decluster composites for use in model validation swath plots. The anisotropy conforms to the search ellipsoids derived from the variogram models. Locally varying anisotropy was used for all grade shell and dike domains. The grade shells utilized concentric patterns that honoured the shape of their "nested" contacts and samples should be paired as such for estimation. The high-grade shell also used the major axis of the variogram model.

Resource classifications used in this study conform to the CIM Definition Standards for Mineral Resources and Mineral Reserves (CIM, 2014). To be classified as Indicated material, a block had to be:

Estimated using composites from three separate holes and restricted to the one of the four mineralized sub-domains (high-, medium-, and low-grade shells or in the dike domain); and
Within a 200-metre drill spacing

Blocks not classified as indicated were assigned to the inferred category if they fell within a 300-metre drill spacing and used a minimum of two holes.

Qualified Persons

The scientific and technical information contained in this news release pertaining to the Baptiste deposit has been reviewed and approved by the following qualified persons under NI 43-101:

Mineral Resource estimate: Richard Flynn , P.Geo., Principal Consultant at Next Mine Consulting Ltd.
Data QA/QC: Ron Voordouw , PhD, P.Geo., Director of Geoscience at Equity Exploration Consultants Ltd.
Geology: Erin Wilson , P.Geo., Principal Geologist at FPX Nickel Corp, and Richard Flynn , P.Geo.,

The qualified persons have verified the information disclosed herein and are not aware of any significant risks and uncertainties that could be expected to affect the reliability or confidence in the information discussed herein.

Additionally, an independent third-party review by SLR Consulting (formerly Roscoe Postle Associates) was undertaken of the new modelling and estimation approach.

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 is the most accessible and has the biggest surface footprint, has been the focus of diamond drilling since 2010 with a total of 99 holes and 33,695 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. At the Van target, the Company followed up 2021's highly successful maiden drilling program with an aggressive step-out program in the summer of 2022, with results forecast for sequential release in the fourth quarter of 2022 and first quarter of 2023.

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 Reports Value Engineering Studies Outlining Improvements in Mineral Processing Facilities and Validating PFS Project Schedule

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to provide an update on value engineering (" Value Engineering ") studies focused on the mineral processing and infrastructure facilities for the Baptiste Nickel Project (" Baptiste " or " the Project ") in central British Columbia . The mineral processing and infrastructure Value Engineering studies have achieved significant value creation through facility optimization, flowsheet refinement, enhanced operability, and improvements to the project build strategy and execution basis.

Highlights

Primary crushing: Changing from a gyratory-type primary crusher to mineral sizers has reduced earthwork and structural quantities, improved Phase 1 operability, and eliminated the need for a second primary crushing circuit in Phase 2
Concentrator expansion: A new integrated approach to the Phase 2 expansion has reduced overall quantities, improved Phase 2 operability, and reduced the footprint of process and infrastructure facilities
Project phasing: The phased approach and throughput rates in the preliminary feasibility study (" PFS ") have been validated, while acceleration of the Phase 2 expansion improves Baptiste's metal production profile
Execution schedule has been confirmed, further validating the PFS's estimated three-year construction duration

"Results from our mineral process and infrastructure Value Engineering studies have added significant value to the Baptiste Nickel Project," commented Andrew Osterloh , the Company's Senior Vice President, Projects & Operations. "By reducing quantities, improving operating efficiency, and advancing the project execution plan, we have enhanced Baptiste's potential as a long life, large-scale, low-cost, and low-carbon producer of made-in- Canada nickel units. We look forward to advancing additional engineering studies on the mining and refinery aspects of the Project in advance of commencing a feasibility study."

Background

The Baptiste 2023 preliminary feasibility study (" PFS ") demonstrates the potential to develop a high-margin and low-carbon nickel mine producing an average of 59,100 tonnes per year of nickel over a 29-year mine life (see the Company's September 6, 2023 news release). Due to awaruite's properties, Baptiste has the unparalleled flexibility to produce either a high-grade concentrate (60% nickel) for direct feed into the stainless steel industry (the " Base Case ") or for further refining into battery-grade nickel, cobalt, and copper products for the electric vehicle battery supply chain (the " Refinery Option ").

While the PFS presents robust economics, including a Base Case after-tax NPV _8% of US$2.01 Billion and after-tax IRR of 18.6% at US$8.75 /lb Ni, FPX strives to add further value to Baptiste, focusing on a holistic blend of economics, constructability, operability, risk and ESG considerations.

The key Value Engineering studies pursued by FPX in 2024 are:

Mineral processing and infrastructure (described herein)
Mine planning and engineering (to be completed in the third quarter of 2024)
Refinery planning (to be completed in the third quarter of 2024)

Mineral Processing & Infrastructure Value Engineering Studies

FPX engaged Fluor Canada Ltd. (" Fluor ") and Wood Canada Ltd. (" Wood ") to perform detailed reviews of the 2023 PFS and to conduct mineral process and infrastructure Value Engineering studies. The consultants identified three primary opportunities to add further value, which are described in greater detail hereunder:

Primary crushing: application of mineral sizers
Phase 2 concentrator expansion
Project phasing

As described below, each of the mineral process and infrastructure Value Engineering studies validated several key tenets from the PFS and added significant project value through reduced quantities, improved operability, reduced process operating costs, and reduced process and infrastructure footprint.

Primary Crushing

The PFS considered a gyratory-type primary crusher. In re-evaluating the Project's geotechnical and communication datasets, the Company has identified an opportunity to use mineral sizers for primary crushing. Taking advantage of the modest compressive strength and fractured nature of the Baptiste ore, mineral sizers have added significant value through reduced earthwork and structural quantities, increased operating availability, and the complete elimination of the second primary crushing line for the planned mine expansion from an initial Phase 1 processing throughput of 108,000 tonnes per day (" tpd ") to 162,000 tpd in Year 10 (" Phase 2 ").

Phase 2 Concentrator Expansion

The PFS considered the construction of a standalone processing facility for the Phase 2 expansion from 108,000 tpd to 162,000 tpd. A new approach to expansion is based on an integrated concentrator approach which entails an expansion of the Phase 1 processing facility rather than the construction of a new standalone facility for Phase 2. This integrated approach results in a reduced process and infrastructure footprint, improved Phase 2 operability, and reduced Phase 2 work force requirements.

Project Phasing

A Value Engineering study re-evaluated the phased approach to processing throughput and compared it with a series of single-build scenarios ranging from 80,000 to 163,000 tpd. Following this evaluation, the PFS's phased approach has been validated; however, the Phase 2 expansion has been accelerated to Year 6 from Year 10. This acceleration in metal production is expected to generate improved economics versus the PFS, with the Phase 2 expansion funded from operating free cash flow following the 3.7 year after-tax payback demonstrated in the PFS.

Project Execution

Both Fluor and Wood were assigned further scope to review the PFS's execution basis, including the permanent facility layout, construction sequence, contracting approach, and overall execution schedule. Note that Fluor and Wood jointly executed the detailed engineering and construction management of the nearby Mt. Milligan Mine, which was commissioned in 2013 and is located 80 km east of Baptiste. Mt. Milligan is of comparable size and complexity to Baptiste, which uniquely positions Fluor and Wood to provide relevant context to the Baptiste project execution plan.

Through this additional execution planning effort, numerous scheduling improvements to the PFS were identified, thereby improving the constructability, operability, and maintainability of Baptiste. In addition, increased focus on allowances for temporary construction facilities has improved execution scope assurance ahead of the environmental assessment and permitting processes. Fundamentally, these robust execution planning efforts further de-risk the Baptiste execution schedule, including the PFS assumption of a three-year construction period.

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 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 408 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 territories of the Tl'azt'en Nation and the 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 distinctive style of awaruite nickel-iron mineralization. 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 Advances Baptiste Project Engagement Initiatives with Opening of Community Office in Fort St. James

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX Nickel " or the " Company ") is pleased to announce the opening of a Fort St. James office ( "Community Office" ) and hiring of a locally-based Community Manager to support ongoing and increased engagement with First Nation governments and with local businesses and communities for the Baptiste Nickel Project (" Baptiste " or " the Project "). These measures are being implemented to support the Company's commitments to collaboration for responsible project development, in particular with the First Nations whose territories encompass the proposed mine project area, including the Tl'azt'en Nation, the Binche Whut'en, the Yekooche First Nation, and the Takla Nation.

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FPX Nickel Re-initiates Exploration at the Mich Property in the Yukon

FPX Nickel Corp. (TSX-V: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce the re-initiation of exploration activities at the Company's Mich property (" Mich "), located 50 km southeast of Whitehorse in the Yukon. The Company has recently expanded its claims at Mich by over 350% and will conduct a wide-ranging surface sampling program over the summer of 2024 with the goal of advancing Mich to drill-ready status.

Highlights

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FPX Nickel Announces Results of 2024 Annual General and Special Meeting

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce the results of its 2024 Annual General and Special Meeting held on May 29 2024.

At the meeting, the shareholders voted to set the number of Board members at seven and elected Kim Baird , Peter M.D. Bradshaw , Anne Currie , James S. Gilbert , Peter J. Marshall , Robert B. Pease and Martin E. Turenne as directors of the Company to hold office for the ensuing year. The shareholders also voted in favour of the appointment of DeVisser Gray LLP as the auditor of the Company for the ensuing year and approved the Company's Share Compensation Plan.

The Company notes that William ("Bill") H. Myckatyn , who had served with distinction on the Board since 1999, did not stand for re-election at the meeting.

"Bill's extensive knowledge as a mining engineer has been very important in guiding the Company's growth, from the initial focus on the novel style of awaruite nickel mineralization at Baptiste to the completion of a preliminary feasibility study and all the milestones achieved along the way," said Mr. Bradshaw, Chairman of the Board. "Bill has always been very generous with his time and contributing the wisdom gained from his very successful career, from being the President and CEO of Princeton Mining and Gibraltar Mines, as the founder and CEO of Quadra Mining, and from over 17 years with Placer Dome. On behalf of the Company's Board, our shareholders and myself, I would like to extend my very great appreciation to Bill for his many years of dedicated service to FPX Nickel."

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 Announces New Leadership for Carbon Capture and Storage Subsidiary

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX Nickel " or the " Company ") is pleased to announce the appointment of Scott Larson as the new President and Chief Executive Officer of CO2 Lock Corp. (" CO2 Lock "), the Company's majority-owned subsidiary specializing in carbon capture and storage (" CCS ") via permanent mineralization. Mr. Larson brings to CO2 Lock over 25 years of combined corporate finance, technology development and entrepreneurial experience.

"We are very pleased to welcome Scott to lead CO2 Lock through the next phase of growth in pursuit of large-scale, low-cost and permanent carbon capture and storage," commented FPX Nickel's Chairman, Peter Bradshaw . "CO2 Lock is at a pivotal stage of development. In late-2023, the company completed a comprehensive field program at its SAM project site in central British Columbia , including the first-ever successful injection of CO2 into a brucite-rich ultramafic deposit. Scott will be leading CO2 Lock's execution of a large-scale pilot program in early 2025, which will result in the first commercial carbon mineralization project in British Columbia ."

Before joining CO2 Lock, Mr. Larson was CEO and co-founder of SpaceAlpha, an earth observation company building synthetic aperture radar technology and Helios Wire, a satellite company building out a space-enabled IoT/M2M network which was successfully sold. He was also previously CEO and co-founder of UrtheCast, scaling the Company from inception, taking it public on the Toronto Stock Exchange, raising $200 million , and growing the company to 250 employees with seven offices around the world.

"The opportunity to be part of a technology and process that will allow CO2 Lock to sequester carbon permanently, on a global scale, is very compelling," said Scott Larson . "I'm looking forward to building value, scaling up, and developing partnerships throughout the carbon capture and cleantech sector."

Mr. Larson has assumed the role of CO2 Lock's CEO from Mr. Cooper Quinn . On behalf of the Board of Directors, FPX Nickel and CO2 Lock extend our thanks to Mr. Quinn for his commitment and contributions to the company.

Background

On March 30, 2022 , FPX announced the formation of CO2 Lock as a self-funding subsidiary to pursue geoscience-related CCS opportunities. FPX retains 100% of the carbon credits associated with CCS on its own properties, and can use any intellectual property developed by CO2 Lock for the benefit of FPX's own properties.

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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Significant Citizen Interest in the Immersive Workshop

Falco Resources Ltd. (TSX-V: FPC) (" Falco " or the " Corporation ") is delighted with citizen participation in the immersive public workshop which was held on July 17 th at the Rouyn-Noranda Convention Center. The population was invited to experience sound and vibration simulations and meet acoustics experts.

In addition to explaining the sound and vibration phenomena that surround us, the evening aimed to collect the concerns, understandings and proposals for improvement formulated by citizens regarding Falco's Horne 5 Project.

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World Copper Establishes At-The-Market Equity Program

Amends Loan Extension Agreement

World Copper Ltd. (TSXV: WCU) (OTCQB: WCUFF) (FSE: 7LY0) ("World Copper" or the "Company") announces that the Company has established an at-the-market equity program (the "ATM Program") that allows World Copper to issue and sell common shares from treasury ("Common Shares") having an aggregate gross sales amount of up to $25 million to the public, over an approximately two (2) year period (subject to earlier termination as described below), from time to time through BMO Capital Markets (the "Agent"), as sole agent. Sales of the Common Shares under the ATM program will be made pursuant to the terms and conditions of an equity distribution agreement (the "Distribution Agreement") dated July 17, 2024, entered into between the Company and the Agent.

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Prismo Metals Secures Permit Approval for Deep Drilling Program at Hot Breccia Copper Project in Arizona

Prismo Metals Inc. (the "Company") (CSE:PRIZ)(OTCQB:PMOMF)(FSE:7KU) is pleased to announce that it has received permit approval from the Bureau of Land Management ("BLM") for ten drill pads, at the Hot Breccia copper project in Southern Arizona

The drill pads will allow for drilling to test the prospective stratigraphy below the cover volcanic rock over a wide area, and in particular the large conductive anomaly identified by Prismo's 2023 ZTEM survey. Ground mapping, prospecting and sampling conducted earlier this year has supported the targeting process and target selection.

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Mineral Resource Estimate										Contained Metal
DOMAIN	CLASS	TONNES (Mt)	Ni (%)	Co (%)	Fe (%)	Cr (%)	S (%)	Pd (g/t)	Pt (g/t)	Ni (kt)	Co (kt)	Fe (Mt)	Cr (kt)	S (kt)	Pd (koz)	Pt (koz)
MAIN	Indicated	81.3	0.25	0.011	5.2	0.24	0.056	0.0029	0.0045	201.8	8.6	4.2	193.6	45.6	7.7	11.8
MAIN	Inferred	357.5	0.25	0.011	5.2	0.23	0.063	0.0040	0.0053	885.4	38.0	18.6	835.4	224.9	45.7	60.6

1.	The independent Qualified Person for the Mineral Resource Estimate, as defined by NI 43-101, is Dr. Scott Jobin-Bevans (P.Geo., PGO #0183), of Caracle Creek International Consulting Inc. The effective date of the Mineral Resource Estimate is July 15, 2024.
2.	The quantity and grade of reported Inferred Resources in this Mineral Resource Estimate are uncertain in nature and there has been insufficient exploration to define these Inferred Resources as Indicated or Measured. However, it is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
3.	A cut-off grade of 0.10% Ni was used for the Main Domain (combined high- and low-grade estimated domains). Cut-offs were determined on the basis of core assay geostatistics and drill core lithologies for the deposit, and by comparison to analogous deposit types.
4.	Geological and block models for the Mineral Resource Estimate used data from a total of 22 surface drill holes, completed by CNC in 2022-2024. The drill hole database was validated prior to resource estimation and QA/QC checks were made using industry-standard control charts for blanks, core duplicates and commercial certified reference material inserted into assay batches by CNC and by comparison of umpire assays performed at a second laboratory.
5.	Estimates have been rounded to two significant figures.
6.	The Mineral Resource Estimate was prepared following the CIM Estimation of Mineral Resources & Mineral Reserves Best Practice Guidelines (November 29, 2019) and the CIM Definition Standards for Mineral Resources & Mineral Reserves (May 19, 2014).
7.	The geological model as applied to the Mineral Resource Estimate comprises three mineralized domains hosted by variably serpentinized ultramafic rocks: a relatively higher-grade core (dunite) and two, western and eastern, lower-grade envelopes (peridotite). Individual wireframes were created for each domain in Leapfrog Geo 2023.2.3 software.
8.	A 20 m x 20 m x 15 m block model was created, and samples were composited at 7.5 m intervals. Grade estimation from drill hole data was carried out for Ni, Co, Fe, Cr, S, Pd and Pt using the Ordinary Kriging interpolation method in Isatis 2024.04 software.
9.	The mineral resource estimates have been revised to include a conceptual pit envelope constraint that was developed using the following optimization parameters. Metal prices used were US$21,000/t nickel, US$40,000/t cobalt, US$325/t magnetite, US$1,350/oz palladium, and US$1,150/oz platinum. Different pit slopes were used for each layer (in degrees): 9.5 in clay, 11.6 in sand, and 45.0 in rock. Exchange rate utilized was US$/C$ at $0.75. Mining costs utilized different values for overburden (clay, gravel), selective mining, and bulk mining, ranging from C$1.62 to C$3.28/t mined. Processing costs and general and administration costs for a 60 ktpd operation (similar to the initial stage of Crawford) were C$8.40/t. Based on the range of grade and ratio of sulphur to nickel, calculated recovery averages 49% for Ni, 56% for Fe, 5% for Co and 21% for Pt and Pd.
10.	Grade estimation was validated by comparison of input and output statistics (Nearest Neighbour and Inverse Distance Squared methods), swath plot analysis, cross-plots of declustered samples against the nearest OK estimate, and by visual inspection of the assay data, block model, and grade shells in cross-sections.
11.	Density estimation was carried out for the mineralized domains using the Ordinary Kriging interpolation method, on the basis of 954 specific gravity measurements collected during the core logging process, using the same block model parameters of the grade estimation. As a reference, the average estimated density value within dunite is 2.62 g/cm ³ (t/m ³ ), while peridotite domains yielded averages of 2.69 g/cm ³ (t/m ³ ) in the west and 2.75 g/cm ³ (t/m ³ ) in the east.

Event		Expected time/date⁽¹⁾
Publication of the Scheme Document		4 July 2024
Latest time for lodging Forms of Proxy or for submitting proxy instructions via the CREST electronic proxy appointment service for the:
Court Meeting (blue Form of Proxy)	10.00 a.m. on 24 July 2024⁽²⁾
General Meeting (white Form of Proxy)	10.15 a.m. on 24 July 2024⁽³⁾
Voting Record Time	6.00 p.m. on 24 July 2024⁽⁴⁾
Court Meeting	10.00 a.m. on 26 July 2024
General Meeting	10.15 a.m. on 26 July 2024⁽⁵⁾
The following dates are indicative only and are subject to change⁽⁶⁾
Scheme Sanction Hearing		Currently scheduled for 29 August 2024
Last day of dealings in, and for registration of transfers of, and disablement of CREST for, Trident Shares	30 August 2024
Scheme Record Time	6.00 p.m. on 30 August 2024
Suspension of dealings in Trident Shares	7.30 a.m. on 2 September 2024
Expected Effective Date of the Scheme⁽⁷⁾	2 September 2024
Cancellation of admission of Trident Shares to trading on AIM	By 7.00 a.m. on 3 September 2024
Latest date for dispatch of cheques and crediting of CREST for Cash Consideration due under the Scheme	Within 14 days of the Effective Date
Long Stop Date	11.59 p.m. on 31 October 2024⁽⁸⁾

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FPX Nickel Delivers Updated Mineral Resource Estimate for Baptiste Nickel Project, Reporting Significant Improvement in DTR Nickel Grade and First Inclusion of Total Nickel, DTR Cobalt and DTR Iron Grades

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Decar Nickel District - Baptiste Project

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Martin Turenne - President, CEO and Director

Andrew Osterloh - Vice-president, Projects

Felicia de la Paz - Chief Financial Officer and Corporate Secretary

Dr. Peter M. D. Bradshaw - Chairman

Rob Pease - Director

William H. Myckatyn - Director

Peter Marshall - Director

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Anne Currie - Director

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