Core Nickel outlines targets; VP of exploration resigns

Executive Summary

• Core Nickel completed a comprehensive 2025 airborne VTEM electromagnetic survey over its 100 % owned Mel and Odei River projects, delivering contiguous EM data for the entire northern land package (Mel, Hunter, Odei River).
• The survey identified multiple high‑priority geophysical targets—including extensions of the existing Mel deposit to the south and west, and new corridor‑scale conductors on the Hunter and Odei River blocks—supporting a robust pipeline of drill candidates.
• Vice‑President, Exploration Caitlin Glew resigned effective Aug. 31 2025; the company is reviewing candidates for her replacement.

Key Details

• Survey Scope & Methodology – Helicopter‑borne VTEM and horizontal magnetic gradiometer surveys conducted Jan–Feb 2025 by Geotech Ltd. (VTEM Plus system) with 100 m line spacing:
• Mel project: 289 line km
• Odei River project: 1,547 line km
• Data Integration – Balch Exploration Consulting re‑interpreted the 2022 Hunter VTEM dataset (882 line km) and integrated it with new data to produce a single geophysical product covering all three northern projects.
• Mel Deposit Findings – EM signatures tightly correlate with known nickel sulphide zones; identified:
• Target Area A (South Extension): Historical DDH 22513 intersected 47.6 m @ 0.52–2.00 % Ni; DDH 22549 intersected 6.74 m @ 0.52 % Ni with a 2.75 % Ni interval, indicating mineralization extends several hundred metres beyond current resource limits.
• Target Area B (West Limb): Strong EM anomaly on flight line L1170/L1180 comparable to eastern limb responses; recommended for drill testing; limited historic drilling over the five‑km strike length suggests untapped potential.
• Hunter & Odei River Findings – Two principal magnetic‑conductive corridors identified:
• Target Area C (Hunter North): ~9.5 km west‑southwest trending, steeply dipping northward, with multiple EM anomalies extending onto the Odei River block.
• Target Area D (Hunter Central): ~12 km parallel trend with strong magnetic response and associated EM conductors, indicating highly serpentinized ultramafic rocks and prospective nickel sulphide systems.
• Management Update – Caitlin Glew resigned as Vice‑President, Exploration effective Aug. 31 2025; Core Nickel will commence a search for her successor and will update stakeholders in due course.
• CEO Comment (Misty Urbatsch) – Emphasized the strong correlation between nickel sulphide mineralization and geophysical responses, highlighted new exploration targets along strike and at depth, and thanked Ms. Glew for her contributions.

Notable Quotes

“Our recent geophysical work…highlights the strong correlation between nickel sulphide mineralization and geophysical responses, while also pointing to exciting new targets along strike and at depth.” – Misty Urbatsch, CEO & President

“On behalf of the board and our team, I want to thank Caitlin for her dedication and leadership…her contributions … have been invaluable.” – Misty Urbatsch, CEO & President