Highlights

• Longest interval to date at Reid – over 1 kilometre of nickel mineralization extending beyond current resource at depth by 300 metres
  • 0.28% nickel over 1,018 metres including multiple higher grade intervals (e.g., 0.36% nickel over 97 metres and 0.42% nickel over 45 metres)
• Successfully infilled/extended existing nickel mineralization by 200 to 300 metres to the north, west, and south
• Updated mineral resource expected by year-end 2025

Canada Nickel Company Inc.  (TSX-V: CNC) (OTCQX: CNIKF) is pleased to announce additional exploration drilling results from its 100% owned Reid Nickel Sulphide Project located approximately 39 kilometres northwest of Timmins, Ontario.

CEO Mark Selby said, “Reid continues to deliver, with today’s results confirming its substantial potential size and scale and the potential for multiple projects in the Timmins Nickel District. These results also validate the considerable potential identified when the initial resource was published at the end of last year, supported by a 3.9-square-kilometre geophysical target that is more than twice the size of Crawford. We look forward to further demonstrating Reid’s scale with an updated resource by year-end.”

Reid Project

Reid is a large serpentinized ultramafic – with a geophysical footprint approximately 2.5 times larger than that of Crawford’s – consisting mainly of dunite and minor peridotite with multiple intervals of higher-grade nickel mineralization. Near the centre of the intrusion is the “Central Dyke Corridor” where the main dunite body is intersected by a series of north-south oriented dykes.

A drill program of 28 holes was completed in Q1-Q2 of 2025 with the purpose of infilling previous drill sections and to produce an updated mineral resource by year-end 2025. The updated resource is expected to significantly increase the size of the Inferred resource as well as upgrade the Indicated and Measured categories. A previous news release (May 28, 2025) contained assay results of the first eight drillholes from the infill program. This release contains assay results from the final 20 drillholes (see Table 1 and Figures 1-4).

The Initial Reid Resource published on December 23, 2025, contained an Indicated Resource of 0.59 billion tonnes grading 0.24% nickel containing 1.4 million tonnes of nickel, an Inferred Resource of 0.99 billion tonnes grading 0.23% nickel containing 2.2 million tonnes of nickel.  An Exploration Target¹ potential was defined for an additional 0.9-2.1 billion tonnes grading 0.20-0.22% nickel.

These last 20 holes all intersected long intervals of mineralized dunite and minor peridotite. REI25-82 and REI25-89 were both drilled in the western half of the geophysical target to test for shallow, higher grade nickel mineralization which was intersected immediately below overburden.

Table 1 – Reid drilling highlights

^{*True width undetermined. All lengths are drillhole lengths.}

Table 2: Drillhole Orientation

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 and quality control. The NQ sized 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.