Canada Nickel Announces Further Successful Exploration Results from the “Three Giants” including Highest Grade to Date at Mann West

TORONTO, March 12, 2025 – Canada Nickel Company Inc. (“Canada Nickel” or the “Company”) (TSXV: CNC) (OTCQX: CNIKF) is pleased to announce additional exploration drilling results from the Reid, Mann West and Midlothian properties.

Highlights

• The Three Giants – Reid, Mann West, and Midlothian continue to deliver strong results
  • Mann West: Highest grade interval to date with 0.63% nickel over 4.5 metres within 18 metres of 0.40% nickel within an entire mineralized core length of 452 metres of 0.27% nickel, in hole MAN24-79
  • Midlothian: Consistently higher grades across entire core lengths. 0.32% nickel over 49 metres, within an entire hole length of 441.5 metres at 0.29% nickel in hole MID24-13.
  • Reid – infill and extension drilling continues in line with expectations including targeted higher-grade nickel intersected in two new holes:
    • 0.48% nickel over 12.0 metres and 0.41% nickel over 37.5 metres within 73.5 metres of 0.34% in REI24-52, all within an entire core length of 722.7 metres at 0.24% nickel
    • 0.47% nickel over 9.4 metres within 171.5 metres averaging 0.27% nickel in REI24-51

CEO Mark Selby said, “Our regional exploration program is consistently yielding excellent outcomes with each of the Three Giants delivering strong drilling results. These targets each have a target footprint larger than our flagship Crawford Nickel Sulphide Project, underscoring the large-scale potential of the Timmins Nickel District. We are excited to publish the remaining six resources by mid-2025, bringing the total to eight regional resources and showcasing the vast scale of nickel resources within the District.”

Reid Project

Canada Nickel recently published its initial mineral resource for Reid (see news release dated December 23, 2024).

Following the initial resource estimate, the company continued with an infill drilling campaign in order to upgrade resources to Measured, Indicated, and Inferred categories. Assays from nine additional holes are presented in this release (Table 1, Figure 1).

Drilling continues this winter at Reid where there are now 18 new completed holes with assays pending. These holes continued to intersect long mineralized intervals comprised mainly of dunite and minor peridotite. REI24-52 was drilled near the center of the core anomaly where it intersected targeted higher grade nickel mineralization, confirming the continuity on strike of at least one higher grade horizon that is oriented west-northwest to east-southeast.

The Reid project is located just 16 kilometres southwest of Crawford and contains a geophysical target of 3.9 square kilometres which is nearly 2.4 times larger than Crawford.

Table 1 – Reid drilling highlights.

Hole ID	From (m)	To (m)	Length (m)*	Ni %	Co %	Pd g/t	Pt g/t	Cr %	Fe %	S %
Main Area
REI24-51	57.0	228.5	171.5	0.27	0.012	0.018	0.013	0.67	5.91	0.08
including	83.0	102.0	19.0	0.36	0.013	0.049	0.020	0.62	6.18	0.11
including	87.0	96.4	9.4	0.47	0.015	0.045	0.016	0.68	5.88	0.14
and	242.3	414.0	171.7	0.25	0.011	0.003	0.005	0.80	5.29	0.04
REI24-52	36.3	759.0	722.7	0.24	0.013	0.012	0.007	0.64	6.03	0.05
including	309.0	321.0	12.0	0.48	0.019	0.058	0.032	0.60	6.68	0.12
and	415.5	489.0	73.5	0.34	0.013	0.022	0.013	0.57	6.02	0.10
Including	415.5	453.0	37.5	0.41	0.014	0.028	0.015	0.61	6.10	0.10
REI24-53	51.0	127.3	76.3	0.24	0.011	0.005	0.006	0.78	5.54	0.06
and	141.9	307.9	166.0	0.26	0.012	0.007	0.006	0.82	5.73	0.09
REI24-54	30.5	118.7	88.2	0.19	0.013	0.003	0.003	0.55	6.62	0.02
and	136.0	160.6	24.6	0.17	0.012	0.004	0.010	0.59	7.41	0.06
and	308.5	313.0	4.5	0.06	0.013	0.708	0.827	0.50	7.53	0.02
REI24-55	45.0	301.1	256.1	0.20	0.013	0.005	0.005	0.53	7.00	0.03
and	315.1	561.0	245.9	0.22	0.012	0.005	0.006	0.67	6.55	0.04
REI24-56	70.1	621.0	550.9	0.23	0.013	0.003	0.003	0.64	5.94	0.05
REI24-58	57.0	531.0	474.0	0.25	0.012	0.004	0.004	0.81	5.61	0.04
including	160.5	174.0	13.5	0.30	0.013	0.003	0.005	0.68	5.77	0.07
Central Dyke Corridor
REI24-49	40.0	189.2	149.2	0.28	0.012	0.006	0.006	0.76	5.55	0.05
including	40.0	61.5	21.5	0.36	0.012	0.023	0.009	0.70	5.82	0.09
and	226.5	280.5	54.0	0.26	0.012	0.003	0.005	0.73	5.51	0.08
and	363.3	440.7	77.4	0.26	0.012	0.016	0.011	0.59	5.64	0.06
REI24-57	30.8	357.0	326.2	0.18	0.013	0.004	0.005	0.53	7.08	0.04

*True width undetermined. All lengths are drillhole lengths.

Figure 1 – Reid – Drill holes Over Total Magnetic Intensity.

Midlothian Property

The Midlothian property is located 70 kilometres south-southeast of Timmins, 25 kilometres west of Matachewan and is directly accessible by road. A total of 16 drillholes have been completed at this property. All 16 holes intersected long intervals of dunite at shallow depths (Figure 2). These holes were drilled on a target measuring 2.7 kilometres long and 0.4 to 0.9 kilometres wide with a target footprint of 1.7 square kilometres (compared to Crawford resource of 1.5 square kilometres). This release contains assay information on the last two completed holes, each of which intersected long intervals of consistently higher-grade mineralization. (see new releases dated April 13, 2023, May 24, 2023, and January 23 2025).

Table 2 – Midlothian drilling highlights.

Hole ID	From (m)	To (m)	Length (m)*	Ni %	Co %	Pd g/t	Pt g/t	Cr %	Fe %	S %
MID24-13	112.5	554.0	441.5	0.29	0.010	0.003	0.005	0.16	4.54	0.04
Including	190.0	199.0	9.0	0.36	0.011	0.003	0.005	0.14	4.62	0.01
and	505.0	554	49.0	0.32	0.009	0.003	0.005	0.10	3.56	0.06
MID24-14	9.0	474.3	465.3	0.27	0.012	0.003	0.004	0.26	5.49	0.02

*True width undetermined. All lengths are drillhole lengths.

Figure 2. – Midlothian – Drill holes Over Total Magnetic Intensity.

Mann Property

The Mann property is located 22 kilometres east of Crawford between Timmins and Cochrane and is 80% owned by Canada Nickel and 20% by Noble Mineral Exploration. The target consists of four separate targets, Mann North, Mann West (together formerly Mann Northwest), Mann Central and Mann South. This release provides an assay update from six holes, three holes at Mann West, and three holes at Mann South.

Mann West

Mann West is approximately 3.5 kilometres long by up to 1.1 kilometres wide (covering 3.4 square kilometres). The drill program completed focused on the southern half of the target with drilling completed over a strike length of 1.7 kilometres and a width of at least 600 metres. All drillholes intersected long sections of well-serpentinized peridotite and minor dunite with disseminated and visible nickel sulphide mineralization consisting primarily of pentlandite and heazlewoodite. The Company has drilled a total of 40 holes to date at Mann West (Figure 2), with 31 holes drilled during the 2024 program. The company is currently working on an initial resource estimate expected by April 2025. Assays from three holes are presented in this release and a final two holes are awaiting assays.

Table 3 – Mann West drilling highlights.

Hole ID	From (m)	To (m)	Length (m)*	Ni %	Co %	Pd g/t	Pt g/t	Cr %	Fe %	S %
MAN24-79	48.7	501.0	452.3	0.27	0.012	0.025	0.013	0.25	6.28	0.10
Including	192.0	210.0	18.0	0.40	0.012	0.124	0.042	0.15	6.16	0.09
Including	205.5	210.0	4.5	0.63	0.011	0.434	0.138	0.15	5.82	0.13
and	358.5	412.5	54.0	0.34	0.013	0.037	0.017	0.15	6.11	0.15
MAN24-80	6.0	337.5	331.5	0.24	0.012	0.016	0.012	0.35	6.42	0.15
Including	43.5	54.0	10.5	0.41	0.011	0.092	0.041	0.15	5.31	0.11
and	118.5	157.5	39.0	0.29	0.014	0.019	0.006	0.57	6.32	0.12
MAN24-98	94.5	211.8	117.3	0.24	0.012	0.016	0.009	0.31	6.22	0.07
and	218.4	501.0	282.6	0.23	0.013	0.021	0.011	0.37	6.78	0.09

*True width undetermined. All lengths are drillhole lengths.

Figure 3. – Mann W – Drill holes Over Total Magnetic Intensity.

Mann South

This target is approximately 5.9 kilometres long by up to 1.2 kilometres wide, having an arcuate and irregular shape, with an overall area of 4.1 square kilometres. The company drilled 20 holes in 2024 and successfully intersected varying degrees of serpentinized peridotite and minor pyroxenite. Peridotite shows anomalous values of PGE in hole MAN24-96. Assays from three holes are presented in this release.

Table 4 – Mann South drilling highlights.

Hole ID	From (m)	To (m)	Length (m)*	Ni %	Co %	Pd g/t	Pt g/t	Cr %	Fe %	S %
MAN24-88	61.4	496.5	435.1	0.23	0.011	0.003	0.005	0.48	5.70	0.05
MAN24-95	33.0	402.0	369.0	0.18	0.013	0.005	0.005	0.46	7.17	0.05
MAN24-96	32.1	402.0	369.9	0.17	0.013	0.052	0.065	0.38	7.06	0.01
including	38.0	65.0	27.0	0.18	0.016	0.360	0.046	0.08	8.09	0.02
and	92.5	154.5	62.0	0.08	0.014	0.109	0.347	0.33	7.58	0.01

*True width undetermined. All lengths are drillhole lengths.

Figure 4. – Mann S – Drill holes Over Total Magnetic Intensity.

Table 5: Drillhole Orientation

Hole ID	Easting (mE)	Northing (mN)	Azimuth (⁰)	Dip (⁰)	Length (m)
MANN WEST
MAN24-79	496793.5	5412392	215	-50	501
MAN24-80	496749.9	5411989	215	-50	474
MAN24-98	495901.7	5412589	220	-50	501
MANN SOUTH
MAN24-88	503622	5408792	50	-50	501
MAN24-95	502507	5405555	55	-50	402
MAN24-96	502253	5405841	35	-50	402
REID
REI24-49	456964.1	5404097	130	-50	483
REI24-51	457900	5404100	90	-60	447
REI24-52	457349.4	5404196	180	-55	759
REI24-53	457930.1	5404253	90	-60	372
REI24-54	456960	5403900	180	-55	501
REI24-55	457754.4	5404635	90	-60	561
REI24-56	457327.8	5404025	180	-60	621
REI24-57	456960.9	5403900	130	-55	537
REI24-58	457929.4	5404172	270	-60	531
MIDLOTHIAN
MID24-13	500117	5303240	180	-50	554
MID24-14	498707	5303083	180	-52	537

Statement Regarding TSX Venture

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

Quality Assurance and Control, Drilling and Assaying

Edwin Escarraga, MSc, P.Geo., a “qualified person” as defined by National Instrument 43-101, is responsible for the on-going drilling and sampling program, including quality assurance (QA) and quality control (QC). The core is collected from the drill in sealed core trays and transported to the core logging facility. The core is marked and sampled at 1.5 metre lengths and cut with a diamond blade saw. One set of samples is transported in secured bags directly from the Canada Nickel core shack to Actlabs Timmins, while a second set of samples is securely shipped to SGS Lakefield for preparation, with analysis performed at SGS Burnaby. All are ISO/IEC 17025 accredited labs. Analysis for precious metals (gold, platinum and palladium) are completed by Fire Assay while analysis for nickel, cobalt, sulphur and other elements are performed using a peroxide fusion and ICP-OES analysis. Certified standards and blanks are inserted at a rate of 3 QA/QC samples per 20 core samples making a batch of 60 samples that are submitted for analysis.

Qualified Person and Data Verification

Stephen J. Balch P.Geo. (ON), VP Exploration of Canada Nickel and a “qualified person” as such term is defined by National Instrument 43-101, has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Canada Nickel Company Inc.

About Canada Nickel Company

Canada Nickel Company Inc. is advancing the next generation of nickel-sulphide projects to deliver nickel required to feed the high growth electric vehicle and stainless steel markets. Canada Nickel Company has applied in multiple jurisdictions to trademark the terms NetZero Nickel^TM, NetZero Cobalt^TM, NetZero Iron^TM and is pursuing the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Canada Nickel provides investors with leverage to nickel in low political risk jurisdictions. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp. For more information, please visit www.canadanickel.com.

For further information, please contact:

Mark Selby
CEO
Phone: 647-256-1954
Email: info@canadanickel.com

Cautionary Statement Concerning Forward-Looking Statements

This press release contains certain information that may constitute “forward-looking information” under applicable Canadian securities legislation. Forward looking information includes, but is not limited to, drill and exploration results relating to the target properties described herein (the “Properties”), the significance of drill results, the ability to continue drilling, the impact of drilling on the definition of any resource, the potential of the Crawford Nickel Sulphide Project and the Properties, timing and completion (if at all) of mineral resource estimates, the ability to sell marketable materials, strategic plans, including future exploration and development plans and results, corporate and technical objectives, receipt of TSX Venture Exchange approval for the acquisition described herein and the completion of the transaction. Forward-looking information is necessarily based upon several assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Factors that could affect the outcome include, among others: future prices and the supply of metals, the future demand for metals, the results of drilling, inability to raise the money necessary to incur the expenditures required to retain and advance the property, environmental liabilities (known and unknown), general business, economic, competitive, political and social uncertainties, results of exploration programs, risks of the mining industry, delays in obtaining governmental approvals, failure to obtain regulatory or shareholder approvals. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. Canada Nickel disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, except as required by law.

Source: Canada Nickel Company