Highlights

• All drill holes yielded long intervals grading 0.29% nickel and ending in mineralization.
  All four holes collared in mineralization within 10 metres of surface
• Mineralization is delineated along 2.0 kilometres strike length and across a width of 250 metres
  within a target geophysical footprint 12% larger than the Crawford resource footprint
• Latest mineralogy results show significant brucite content, the mineral utilized by Canada Nickel’s carbon storage process, nearly four times higher than Crawford average of 1.9%

Canada Nickel Company Inc. (TSX-V: CNC) (OTCQX: CNIKF) released assay results from the final three of four holes drilled on its Midlothian Property. Canada Nickel can earn a 100% interest in the Property through a combination of cash payments, share issuances, exploration expenditure requirements and a net smelter returns royalty as part of an Option Agreement with Canadian Gold Miner Corp. and Laurion Mineral Exploration Inc.

Mark Selby, CEO of Canada Nickel commented, “These outstanding Midlothian results, with all holes showing good nickel grades across long mineralized intervals of multi-hundred metres that start less than ten metres from surface, confirm Midlothian as a significant discovery. Midlothian is one of our ten properties with a target geophysical footprint larger than Crawford and these latest results further confirm the success of our geophysical targeting approach.  As well, these latest samples with high brucite content also demonstrate the potential for substantial carbon storage at Midlothian utilizing the In-Process Tailings Carbonation process the Company is developing.”

Midlothian Property

The Midlothian property is located 70 kilometres south-southeast of Timmins, 25 kilometres west of Matachewan and is directly accessible by road. Four drillholes were completed during the winter of 2023.  All four holes intersected mineralized dunite at shallow depths (Figure 1). 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 km² (compared to Crawford resource of 1.5 km²). This release contains assay information on the last three holes. (see MID23-01 assay results on May 24, 2023 release, and nickel-bearing mineralogy on April 13, 2023 release for earlier results).

Table 1: Midlothian drilling downhole composite

*Assay results for MID23-01 were included in a previous release and are repeated here for completeness

Holes MID23-02 and MID23-03 intercepted long, uninterrupted lengths of strongly serpentinized dunite, starting close to surface at approximately six metres and still open at depth.

Hole MID23-04 collared on a serpentinized peridotite, followed by pyroxenite and a long intersection of mineralized dunite remaining open at depth.

Mineralogy Results

Mineralogical analysis from samples from hole MID23-04 indicate awaruite and heazlewoodite being the dominant nickel minerals, with awaruite representing approximately 70% of the recoverable nickel minerals.  Brucite, the most reactive carbon storage mineral, averaged 7.2%, nearly four times the amounts seen at Crawford which averages 1.9% brucite, with several individual samples over 11%.  See table 2.

Table 2: QEMSCAN Mineralogy results

Table 3: Drillhole Orientation

Assays, Quality Assurance/Quality Control and Drilling and Assay

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 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 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.

The magnetic images shown in this press release were created from Canada Nickel’s interpretation of datasets provided by the Ontario Geological Survey.

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 1. Plan View of Midlothian drilling with assay results.png (CNW Group/Canada Nickel Company Inc.)