Ni-Co Energy Launches Approximately 7,500-Metre Drill Program at the Kremer Project; First Hole Targets Kremer-2

One drill rig is now active at Kremer-2, where nickel-copper-cobalt-bearing sulphide mineralization has been confirmed at multiple surface sites. The funded and permitted program will test part of an approximately 8 km prospective corridor.

Ni-Co Energy Inc. (TSXV: NICE,OTC:NICLF) ("Ni-Co Energy", "Ni-Co" or the "Company") is pleased to announce that drilling of the first hole of its approximately 7,500-metre 2026 program has begun at Kremer-2. The Kremer Project, focused on nickel, copper and cobalt exploration, is 100% owned by the Company and located within ZEC Lavigne in Québec. The program, planned in two phases, is funded and the required permits have been obtained.

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Highlights

• Drilling of the first hole has begun at Kremer-2, located southeast of Kremer-1. Kremer-2 is the Company's highest-priority untested exploration target.

• The approximately 7,500-metre program will be carried out with one drill rig in two phases. Phase 1 will cover the principal identified electromagnetic conductors, while Phase 2 will provide more detailed drilling of the areas considered most prospective.

• As announced on July 22, 2026, 11 of 33 grab samples from Kremer-2 returned more than 0.5% Ni, including values of up to 1.21% Ni. Most Kremer-2 samples were collected at multiple locations over approximately 2 km.

• The initial holes will target TDEM conductors in areas where massive sulphide zones have also been observed at surface and where magnetic and gravity responses are present. Borehole electromagnetic surveys (BHEM) are planned on the majority of holes.

• Closely spaced drilling will also be carried out at Kremer-1 to better constrain the true widths, geometry and continuity of zones intersected in 2023.

• The program will test part of an approximately 8 km prospective geological and geophysical corridor. Several conductors, extensions and areas, including Kremer-3, will remain to be evaluated after this program.

Management Commentary

Alain Tremblay, President and Chief Executive Officer of Ni-Co Energy, stated:

"We are starting at Kremer-2 because it is our untested target with the strongest convergence of surface and geophysical data. The approximately 7,500-metre program represents the first systematic subsurface evaluation of part of the Kremer corridor. It will test several targets at Kremer-2 and help better define Kremer-1. This program is not designed to test the full potential of the project: several conductors, extensions and areas within the approximately 8 km prospective corridor, including Kremer-3, will remain to be evaluated afterward. We will advance the project step by step, based on drilling data, assays and borehole electromagnetic surveys."

Marc Boivin, P.Geo., Vice President, Exploration of Ni-Co Energy and Qualified Person for the Company, stated:

"The first holes at Kremer-2 are designed to intersect the TDEM conductors, interpreted to dip to the southwest, at a high angle. Their relationship with the interpreted dense and magnetic body in the area remains to be confirmed. Borehole electromagnetic surveys will help us determine whether the conductors extend off-hole and rapidly guide follow-up work."

2026 Drill Program
This drill campaign is intended to confirm the economic potential of the favourable corridor and document the geological and ore-deposit setting of the mineralized zones. The planned holes are designed to test sulphide mineralization observed at multiple surface sites and confirm vertical extensions, thicknesses and grades. Hole design integrates the geometry of modelled TDEM conductive plates, magnetic and gravity responses, topography and ground access.

At Kremer-1, closely spaced drilling will be carried out after drilling at Kremer-2. Modelling of borehole electromagnetic surveys completed in 2024 indicates that several 2023 holes were oriented subparallel to the interpreted dip of the target. The new holes will be oriented to intersect the interpreted geometry at a higher angle and better evaluate true widths, which remain unknown.

The Company intends to provide updates on the progress of the program and release assay results once they have been received, verified and approved.

Figure 1. Overview map of the approximately 8 km prospective corridor showing Kremer-1, Kremer-2 and Kremer-3, TDEM conductor axes and surface sampling sites. The conductor axes are interpreted geophysical targets; the map does not demonstrate continuous mineralization between the areas or along the corridor.

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Kremer Project and Geophysical Coverage
The Kremer Project is interpreted as a nickel-copper-cobalt-bearing sulphide mineralization system hosted within the Morin Anorthosite, near its contact with Grenvillian metasedimentary rocks. Work completed at Kremer-1 in 2023 confirmed the presence of nickel-, copper- and cobalt-bearing sulphides in drilling and at surface.

Kremer-2, located southeast of Kremer-1, had never been drill tested before the current program. The area was prioritized based on the convergence of several factors: assay-confirmed sulphide mineralization at multiple surface sites, electromagnetic conductors, and magnetic and gravity responses.

The initial helicopter-borne TDEM survey covered the project-scale corridor. Detailed ground TDEM, gravity and drone magnetic surveys completed in 2024 and early 2025 over the grids then designated Kremer-1 and Kremer-2 also cover the southeastern extension now designated Kremer-3. Kremer-3 remains an untested follow-up area and is less advanced than Kremer-2.

Integrated geological and geophysical work has defined an approximately 8 km prospective corridor containing several distinct electromagnetic conductors as well as magnetic and gravity responses. Ni-Cu-Co mineralization has been confirmed by drilling at Kremer-1 and by grab samples at multiple sites at Kremer-2. The continuity, source and economic significance of the individual conductors along the corridor have not yet been established.

Reference to Previous Results and Quality Assurance/Quality Control Procedures
This news release presents no new assay results, but refers to the Company's news release dated July 22, 2026 and filed on SEDAR+.

As part of the drill program, core will be oriented, photographed, logged, sawn and sampled in accordance with the Company's procedures. The quality assurance and quality control program will include the regular insertion of blanks, certified reference materials and duplicates. The selected laboratory, analytical methods and full details of the quality assurance and quality control protocol will be disclosed with the first assay results.

Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Marc Boivin, P.Geo., Vice President, Exploration of Ni-Co Energy Inc. and a "Qualified Person" as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Boivin is not independent of the Company.

About Ni-Co Energy Inc.
Ni-Co Energy Inc. is a Québec-focused mineral exploration company advancing its 100%-owned Kremer nickel-copper-cobalt project, located within ZEC Lavigne approximately 90 km north of downtown Montréal. The Company's objective is to explore for nickel, copper and cobalt mineralization in Québec, with a focus on critical minerals required for electrification, energy-transition technologies and industrial supply chains.

Cautionary Statement Regarding Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements regarding the scope, sequencing, execution and completion of the approximately 7,500-metre drill program, completion of both phases of the program, borehole electromagnetic surveys, future release of assay results, interpretation of geological and geophysical data, potential continuity of mineralization and future exploration activities.

Forward-looking information is based on assumptions considered reasonable by management as of the date of this news release, including continued access to the property, availability and proper functioning of the drill rig and equipment, availability of contractors and consultants, weather and logistical conditions that permit work to continue, receipt of assay results within reasonable timeframes and the usefulness of geophysical models for targeting. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied, including risks related to exploration, geological conditions, operational delays, equipment, access, laboratory analysis, data interpretation, commodity prices, environmental matters, regulation, community relations and financial markets.

Grab samples are selective by nature and are not necessarily representative of mineralization across the property. Electromagnetic anomalies are exploration targets only and may be caused by sulphides, but also by sulphide-rich or graphitic metasedimentary rocks. The Company has not completed a mineral resource estimate, preliminary economic assessment, pre-feasibility study or feasibility study for the Kremer Project. There is no assurance that future exploration work will lead to the discovery of an economic mineral deposit.

The Company does not undertake to update forward-looking information except as required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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