Highlights

• 3.95% nickel, 0.40% copper, 0.15% cobalt and 1.08 g/t palladium & platinum over 4.0 metres within 1.61% nickel over 12 metres
• Drilling continuing in Bannockburn B-Zone to target other high conductivity areas

Canada Nickel Company Inc.  (TSX-V: CNC) (OTCQX: CNIKF)  announced it has received assays for drillhole BAN24-18 which intersected 4.0 metres of massive sulphide within a disseminated sulphide-bearing peridotite at Bannockburn, one of the Company’s southern exploration properties in the Timmins Mining Camp.

CEO Mark Selby said, “These are very exciting results and one of the highest-grade nickel intervals discovered this year – highlighting the potential of our district scale land package and significant nickel resources to also deliver high grade nickel. I look forward to further unlocking the potential of the Bannockburn F-Zone target, while also continuing to test the other high potential conductors identified in other zones of the Bannockburn property.”

Bannockburn Property

The Bannockburn Property is located 65 kilometres south of Timmins and approximately 20 kilometres west of Matachewan, Ontario and is located in the vicinity of the Company’s Midlothian and Sothman properties.  The Company has been primarily focused on the large tonnage, low grade nickel zone (the B-Zone) and has identified a number of new prospective targets which are being tested for higher-grade material.

Bannockburn F-Zone

Results from assays for massive sulphides identified in drillhole BAN24-18 confirmed very high-grade nickel mineralization of 3.95% nickel over 4 metres and up to 4.65% nickel over 1 metre within a well mineralized zone of 1.61% nickel in 12 metre drillhole length. (Figures 1a,b,c).

Canada Nickel was testing the previously identified F-Zone (Figure 2) which had been historically drilled by Outokumpu Mining Oy and Mustang Minerals Corp. in the late 1990s and early 2000s and yielded narrow intervals of net-textured and massive sulphide mineralization including 2.8 metres of 2.9% nickel approximately 50 metres east of the current interval.

The Company is now conducting a borehole electromagnetic (BHEM) survey.  The BHEM survey will test for the presence of conductive sulphide mineralization beyond the extents of the drillhole and can indicate the approximate size and location of the conductor representing the mineralized sulphide system. Additional holes will be drilled based on the BHEM results.

Canada Nickel is also following up with similar targets inside the B-Zone that were highlighted during a semi-airborne EM survey (drone and ground loop) that was flown during the summer of 2024, performed by Rosor Corp. The survey shows two other higher conductivity/lower resistivity targets within the B-Zone.

Table 1: Selected Assays BAN24-18

^{*Drillhole length. True width not calculated}

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 – Standards of Disclosure for Mineral Projects, is responsible for the on-going drilling and sampling program, including quality assurance and quality control. 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 or SGS Callao (Peru). 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 – Standards of Disclosure for Mineral Projects, 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.

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.

Figure 1a – BAN24-18, core pictures a; (256.1-267 metres). b; (260.3-263.4 metres), c; (select intervals 257.2-262.7 metres) / a) Peridotite to Massive sulphide, to volcanics; b) Net-texture sulphides (Po (Pyrrhotite)>Pn (Pentlandite)>>Cpy (Chalcopyrite); c) Disseminated sulphides on peridotite, into massive sulphides Po>Pn (CNW Group/Canada Nickel Company Inc.)

Figure 1b – BAN24-18, core pictures a; (256.1-267 metres). b; (260.3-263.4 metres), c; (select intervals 257.2-262.7 metres) / a) Peridotite to Massive sulphide, to volcanics; b) Net-texture sulphides (Po (Pyrrhotite)>Pn (Pentlandite)>>Cpy (Chalcopyrite); c) Disseminated sulphides on peridotite, into massive sulphides Po>Pn (CNW Group/Canada Nickel Company Inc.)

Figure 1c – BAN24-18, core pictures a; (256.1-267 metres). b; (260.3-263.4 metres), c; (select intervals 257.2-262.7 metres) / a) Peridotite to Massive sulphide, to volcanics; b) Net-texture sulphides (Po (Pyrrhotite)>Pn (Pentlandite)>>Cpy (Chalcopyrite); c) Disseminated sulphides on peridotite, into massive sulphides Po>Pn (CNW Group/Canada Nickel Company Inc.)

Figure 2 – Total Magnetic Intensity and F-zone location (CNW Group/Canada Nickel Company Inc.)