Quebec Nickel signs deal to acquire Ecru project

Mr. David Patterson reports QUÉBEC NICKEL CORP. ANNOUNCES SIGNING OF DEFINITIVE AGREEMENT TO ACQUIRE THE ECRU PROJECT, NEVADA Quebec Nickel Corp.'s negotiations relating to the non-binding letter of intent signed with Orogen Royalties Inc. on Dec. 12, 2025, and pertaining to the acquisition of 100-per-cent interest in the Ecru property, located on the Cortez/Battle Mountain trend in Nevada, have concluded. The company is pleased to announce that a definitive purchase and sale agreement for the Ecru project has been signed between Quebec Nickel and Orogen on the Feb. 26, 2026. The Ecru property consists of 112 mining claims and is situated north of the Pipeline-Cortez-Goldrush-Robertson deposit cluster, one of Nevada's most prolific gold districts. The agreement also includes the transfer of a sublease agreement between Orogen and Nevada Gold Mines LLC to the company, for all rights in certain additional real property held by Nevada Gold Mines. Transaction terms Under the terms of the definitive agreement, the company will acquire the Ecru property for aggregate consideration of $540,000, payable as follows: $250,000 in cash payable on closing; One million common shares of Quebec Nickel issued on closing, at the issue price of 16.5 cents per share, representing the permitted discount to the closing price of the company's common shares on Feb. 26, 2026; Within six months of closing, the issuance to Orogen of $125,000 of common shares at an issue price per share equal to the 10-day volume-weighted average price (VWAP) of the common shares of the company on the Canadian Securities Exchange at the date of the issue. In addition, Quebec Nickel will grant Orogen a 2.0-per-cent net smelter return royalty on the Ecru property. Quebec Nickel has already paid Orogen a non-refundable commitment fee of $25,000, which will be credited against the cash portion of the purchase price payable upon closing. Completion of the proposed acquisition of the Ecru property transaction is subject to, among other things, the satisfaction of customary closing conditions. The company expects to close the acquisition within the next 30 days, as contemplated in the definitive agreement. The acquisition of the Ecru property represents Quebec Nickel's entry into one of the world's premier gold mining districts, allowing the company to leverage its technical and corporate expertise to create value by exploring and advancing this exciting project. Upon closing, the company intends to advance the Ecru property through systematic technical review and disciplined exploration planning, including the preparation of a National Instrument 43-101-compliant technical report to support future evaluation and strategic decision making. Ecru property overview The Ecru property is located within the Cortez gold camp, one of Nevada's most prolific gold-producing regions, and lies directly northeast and adjacent to Nevada Gold Mines' Robertson deposit. The property is positioned along major regional structural corridors, including the Cortez fault system and the Battle Mountain-Eureka trend, both of which are associated with significant gold endowment in the district. Previous exploration activities include geophysical surveys, geochemical data sets and minor drilling, which identified multiple untested targets. These targets include a potential shallow intrusive-related target with similarities to the Robertson deposit, and possible lower plate carbonate host rocks at depth. Both styles of mineralization are recognized within the Cortez district. The Ecru property is considered to have high potential to host Robertson-style intrusive-related gold mineralization and/or Carlin-type mineralization, subject to further evaluation. Proposed name change To align with the company's new focus, the board believes that a name change is prudent. Quebec Nickel will change its name to Aurbis Resources Corp. (Canadian Securities Exchange: AURR). The name signifies the focus on gold exploration and the global significance of the company's industry. The company is geared toward value creation and endeavours to do so on a global exploration scene. The company will provide further updates once it receives regulatory approval for the proposed name change and closes the proposed acquisition of the Ecru property. Board and management updates In conjunction with its growth strategy and the proposed acquisition of the Ecru project, the company is pleased to announce an update to its board and management. These changes represent the company's commitment and focus on value creation. Johan Lambrechts was appointed as a non-executive director on the Quebec Nickel board on Dec. 12, 2025, and he will now also assume the position of chief executive officer (CEO). Mr. Lambrechts was previously chief executive officer of Antares Metals and is an experienced geologist with over 23 years of exploration and resource development experience across Australia and Africa. His background spans multiple commodities, including copper, gold and lead-zinc-silver, and he has successfully established and advanced junior exploration companies and projects. David Patterson, currently CEO, will become executive chairman of the board. He has over 30 years of experience in mining and exploration, co-founded and led Vested Technology Corp., and previously served as CEO of Emerita Resources Corp. and chief financial officer of Donner Metals Ltd., both listed on the TSX Venture Exchange. He holds an MBA from Simon Fraser University (1991). About Orogen Royalties Inc. Orogen Royalties is focused on organic royalty creation and royalty acquisitions on precious and base metal discoveries in western North America. The company's royalty portfolio includes the Ermitano gold and silver mine in Sonora, Mexico (2.0-per-cent NSR (net smelter return) royalty), operated by First Majestic Silver Corp. The company is well financed with several projects actively being developed by joint venture partners. About Quebec Nickel Corp. Quebec Nickel is a mineral exploration company focused on acquiring, exploring, and developing critical metals projects. Qualified person Johan Lambrechts, QP, is the company's qualified person as defined by National Instrument 43-101 and has reviewed the scientific and technical information that forms the basis for portions of this news release. He has approved the disclosure herein. Mr. Lambrechts is not independent of the company, as he is a director of the company. We seek Safe Harbor.