Highlights

• Mann West – successful final three holes, Mann West initial resource to be published in June
  • 0.33% nickel over 52 metres within 480 metres of 0.27% nickel in hole MAN24-65
• Reid – successful infill drilling program to support an updated resource by year-end 2025
  • 0.27% nickel over 711 metres including 0.45% nickel over 39 metres within 0.37% nickel over 120 metres in REI24-70
• Deloro – successful infill drilling with shallow overburden to support updated resource by year-end 2025
  • 0.38% nickel over 48 metres within 347 metres of 0.26% nickel in hole DEL24-35, with mineralization starting at 6 metres below surface

Canada Nickel Company Inc. (TSX-V: CNC) (OTCQX: CNIKF) is pleased to announce additional exploration drilling results from the Reid, Mann West and Deloro properties.

CEO Mark Selby said, “The Timmins Nickel District continues to deliver excellent exploration results from Reid, Mann West and Deloro. We look forward to initial resources from three of our projects (Mann West, Mann Central, and Texmont) in June 2025. The results from Reid continue to show impressive continuity for both the overall mineralization and higher-grade zones, and Deloro continues to deliver excellent intervals with shallow overburden. The results will support conversion of potential resources at both projects, and we expect to publish updated resources by year-end 2025. I am excited by our ongoing and clear demonstration of the potential of the Timmins Nickel District, with six resources to be published by the end of June and three additional resources to be published through the remainder of 2025.”

Reid Project

Highlights:

• 0.27% nickel over 711 metres, including 0.45% nickel over 39 metres within 0.37% nickel over 120 metres in REI25-70
• 0.27% nickel over 620.0 metres, including 0.38% nickel over 21.0 metres within 178.0 metres of 0.30% in REI24-59

The initial mineral resource for Reid was published in late 2024 by Canada Nickel (see news release dated December 23, 2024). Since that time, drilling has continued with the goal of adding to the resource in the Measured, Indicated and Inferred categories. Assays from the last three drillholes of the 2024 campaign are presented here (see Table 1 and Figure 1).

Reid is a large serpentinized ultramafic 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” which has slightly lower grades of nickel that are interrupted by north-south oriented dykes.

Twenty-eight additional drillholes were completed in the spring of 2025 at Reid, with eight drillholes presented in this release. These holes all intersected long mineralized intervals comprised mainly of dunite and minor peridotite. REI24-59 and REI25-70 were both drilled in the western half of the geophysical target where it intersected higher grade nickel mineralization, confirming the continuity on strike of one higher grade horizon that is oriented west-northwest to east-southeast. Drilling through the Central Dyke Corridor encountered thick intervals of mineralization including REI25-68 which intersected 0.28% nickel over 471.6 metres. Twenty drillholes remain to be released with assays pending.

Table 1 – Reid drilling highlights

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 through a company called East Timmins Nickel Ltd. The property hosts four separate targets: Mann North, Mann West, Mann Central and Mann South.

Mann West

Highlights:

• 0.33% nickel over 52 metres within 480 metres of 0.27% nickel in hole MAN24-65

Mann West is approximately 3.5 kilometres long by up to 1.1 kilometres wide (covering 3.4 square kilometres). Drilling focused on the southern half of the target and is now completed over a strike length of 1.7 kilometres and a width of at least 600 metres. The most recent drilling 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 39 holes at Mann West, 31 of which were drilled during the 2024 campaign (Figure 2). The company is currently working on an initial resource estimate expected in June 2025. Assays from the last three holes are presented in this release (Table 2).

Table 2 – Mann West drilling highlights

Deloro Property

Highlights:

• 0.38% nickel over 48 metres within 347 metres of 0.26% nickel in hole DEL24-35, with mineralization starting at 6 metres below surface
• 0.26% nickel over 411.0 metres in hole DEL24-40, with mineralization starting only 2 metres below surface

The Company produced the first resource for the Deloro property in the summer of 2024 (see July 18, 2024 news release). Deloro shows consistent mineralization within the dunite and peridotite units, with thin overburden throughout the target, as seen in drillhole DEL24-40 with mineralization starting only 2 metres below surface. In the late fall of 2024, Canada Nickel drilled an additional 21 holes to infill and upgrade the existing resource. This release presents results for four drillholes (Table 3), with only one drillhole remaining.

A resource update for Deloro is expected by end of year 2025.

Table 3 – Deloro drilling highlights

Table 4: 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 (QA) and quality control (QC). 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^™, NetZero Cobalt^™, NetZero Iron^™ 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 – Reid – CNC Drillholes Over Total Magnetic Intensity (CNW Group/Canada Nickel Company Inc.)

Figure 2. – Mann West – CNC Drillholes Over Total Magnetic Intensity (CNW Group/Canada Nickel Company Inc.)

Figure 3. – Deloro – CNC Drillholes Over Total Magnetic Intensity (CNW Group/Canada Nickel Company Inc.)