SPC Nickel Corp. (TSX-V: SPC) is pleased to announce new assay results from the 2024 Drill Program at SPC Nickel’s West Graham Project  located in the world-class Nickel-Copper mining district of Sudbury, Ontario (Figure 1). The 2024 Drill Program is expected to complete 2,500 metres of drilling over 40 holes (See news release dated May 7, 2024). Assay results from 3 of the 14 holes completed have been received and significant results are presented in Table 1 below. SPC Nickel anticipates completion of drilling by the end of August with additional assay results to follow when available.

Highlights:

• Hole WG-24-087, intersected 1.05% Ni and 0.30% Cu over 16.0 metres from 32.0 to 48.0 metres. This interval is part of a wider interval that returned 0.63% Ni and 0.24% Cu over 41.0 metres from 10.0 to 41.0 metres (Table 1).
• Hole WG-24-088, intersected 1.41% Ni and 0.33% Cu over 16.0 metres from 20.0 to 36.0 metres. This interval is part of a wider interval that returned 0.87% Ni and 0.32% Cu over 37.95 metres from 13.0 to 42.0 metres (Table 1).

Grant Mourre, CEO and President of SPC Nickel commented, “When we announced the commencement of drilling at West Graham in May we emphasised our focus on evaluating the Project’s potential as a low-strip, higher-grade starter pit. These near-surface results provide clear support for this approach. Importantly, the assays we are releasing today are also of significantly higher grade than those released with the indicated In-Pit resource announced in January 2024, which only encourages our already strong belief in the economic upside of the Project. We are extremely pleased with these first results and, after a promising start to our 2024 drill campaign, we eagerly anticipate sharing additional assays over the summer.”

Assay Results

Table 1: Reported assay results from the 2024 drill program on the West Graham Project.

About the West Graham Deposit

The West Graham Project is located in the heart of the Sudbury Mining District where nine mines are currently in operation and two more are in the development phase. The region benefits from its proximity to well-developed transportation infrastructure including roads, railways, and electrical grid. In addition, West Graham is situated close to processing, smelting and refining assets which include two mills, two smelters and one nickel refinery. Local operators include global mining corporations Vale, Glencore and KGHM.

In January 2024, SPC Nickel announced the maiden Mineral Resource Estimate (MRE) for the West Graham Project (see news release dated January 17, 2024). The MRE showed an In-Pit Resource (0.3% NiEq Cutoff Grade) of Indicated Resource of 19.3 Mt at 0.42% Ni, 0.28% Cu in the indicated category and 3.3 Mt at 0.37% Ni, 0.28% Cu in the inferred category. The Out-of-Pit Resource (0.7% NiEq Cutoff Grade) contained a further 3.2 Mt at 0.63% Ni, 0.47% Cu (0.92% NiEq) in the indicated category and 3.9 Mt at 0.69% Ni, 0.43% Cu (0.97% NiEq) in the inferred category.

Quality Assurance, Quality Control and Qualified Persons

The technical elements of this news release have been approved by Mr. Grant Mourre, P.Geo. (PGO), CEO and President of SPC Nickel Corp. and a Qualified Person under National Instrument 43-101.

SPC Nickel follows rigorous sampling and analytical protocols that meet or exceed industry standards. Core samples are stored in a secured area until transport in batches to the ALS facility in Sudbury, Ontario, Canada. Sample batches include certified reference materials, blank, and duplicate samples that are then processed under the control of ALS. All samples were analyzed in Vancouver by ALS Chemex. Platinum, palladium, and gold values were determined together using standard lead oxide collection fire assay and ICP-AES finish. Base metal values were determined using sodium peroxide fusion and ICP-AES finish. Silver values were determined using an aqua regia digestion and an AAS finish. A Certified Reference Material (CRM) standard, blank or duplicate is inserted on every 10th sample in the following order: CRM, blank, CRM, duplicate. The cycle repeats every 40 samples, thus ensuring that 10% of samples submitted are control samples.

About SPC Nickel Corp.

SPC Nickel Corp. is a Canadian public corporation focused on exploring for Ni-Cu-PGMs within the world class Sudbury Mining Camp and in Nunavut. SPC Nickel is currently exploring its key 100% owned exploration project Lockerby East located in the heart of the historic Sudbury Mining Camp that includes the West Graham Resource and the LKE Resource. SPC Nickel also holds three additional projects across Canada including the large camp-scale Muskox Project (located in Nunavut), the past producing Aer-Kidd Project (located in the Sudbury Mining Camp) and the Janes Project (located 50 km northwest of Sudbury). The corporate focus is on Sudbury, and SPC Nickel continues to look for new opportunities to add shareholder value.

Figure 1: Plan map of the current area of drilling on the West Graham Project showing the collar locations and drill traces of the completed holes. Assay results for the reported holes are shown in callouts. Interval lengths reported above are downhole lengths. See Table 1 for true width estimations. (CNW Group/SPC Nickel Corp.)