Nickel 28 Royalty Portfolio Update

Nickel 28 Capital Corp. released a comprehensive portfolio update on September 14, 2026, detailing progress across four key royalty projects.

At the Dumont project in Quebec, the site was selected for the Quebec government's "Filon" service to accelerate strategic mining. A government decree extended the project's authorization through 2031. Production targets approximately 25,000 tonnes of nickel annually, with commencement expected in 2030.

At the Turnagain project in British Columbia, Giga Metals commenced a fully funded, property-scale geophysical program using magnetotelluric and HeliSAM methods. The program targets the underexplored "Attic Zone" to identify deeper conductive targets.

The Flemington project in Australia has advanced into a Pre-Feasibility Study (PFS) evaluating scandium oxide production scenarios up to 180 tonnes/year. Preparations for a multi-purpose drilling program are underway.

At the Nyngan project in Australia, Lycopodium Limited was appointed in June 2026 to update the 2016 Definitive Feasibility Study (DFS), incorporating current costs and efficiency opportunities. The project holds Mining Lease ML 1893.

Management reiterated that the royalty structure provides long-term exposure to critical minerals without requiring direct development capital expenditure.

Nickel 28 Capital Corp. (NKL) released an update that aligns with previous announcements and management guidance. The company’s regulatory support and permit extension for the Dumont project were previously disclosed in July and August 2026. Additionally, Turnagain’s geophysics and Flemington’s Preliminary Feasibility Study (PFS) are expected developmental milestones that follow standard project progression.

There are no new financial metrics, capital raises, or operational changes reported at the flagship Ramu asset. The news is incremental and expected, providing no immediate catalyst for stock price movement, while confirming the company is executing on its stated roadmap.

Nickel 28 Capital Corp. operates as a royalty and streaming company focused on nickel, cobalt, and scandium. Its flagship asset is an 8.56% joint-venture interest in the Ramu Nickel-Cobalt operation in Papua New Guinea, which is operated by MCC. Ramu is a producing HPAL mine with a long life and low-cost profile.

The company’s royalty portfolio includes projects in Canada, specifically Dumont, Turnagain, North Canol, and Sunset, as well as projects in Australia, including Flemington, Nyngan, and Sewa Bay. The business model focuses on low corporate overheads and maximizing free cash flow from Ramu distributions while holding royalty interests in development-stage projects.