Canada Nickel Reports Additional Exploration Drilling Results at Reid Nickel Sulphide Property Including Over 1 kilometre of Nickel Mineralization

Executive Summary

• Canada Nickel announced results from the final 20 drill holes of its 28‑hole infill program at the Reid Nickel Sulphide Project, revealing over 1 km of continuous nickel mineralization extending 300 m deeper than the current resource.
• The intercepts include 0.28% Ni over 1,018 m, with higher‑grade zones such as 0.42% Ni over 45 m and 0.50% Ni over 10.5 m.
• An updated mineral resource estimate is expected by year‑end 2025, anticipated to significantly increase both inferred tonnage and upgrade indicated/measured categories.

Key Details

• Longest interval: 1,018.6 m (25.4–1,044 m) at 0.28% Ni (REI25‑82).
• Higher‑grade highlights:
• 0.42% Ni over 44.8 m (incl. 0.016% Co, 0.036 g/t Pd, 0.015 g/t Pt) – REI25‑82.
• 0.50% Ni over 10.5 m – REI25‑82.
• 0.36% Ni over 97.5 m – REI25‑82.
• 0.41% Ni over 34.5 m – REI25‑89.
• Infill/intermediate zones: Multiple holes (e.g., REI25‑65, ‑75, ‑79, ‑84) returned consistent grades of 0.19–0.27% Ni over lengths ranging from ~20 m to >300 m.
• Resource extension: Holes REI25‑71, ‑72, ‑73, ‑74, ‑76‑81, ‑83‑88 intersected mineralization beyond the current resource envelope, supporting a planned resource update.
• Drill program: 28 holes total (Q1‑Q2 2025); this release covers the final 20 holes; earlier eight‑hole results were disclosed on May 28 2025.
• Previous resource (Dec 23 2024):
• Indicated: 0.59 bn t @ 0.24% Ni (1.4 Mt Ni)
• Inferred: 0.99 bn t @ 0.23% Ni (2.2 Mt Ni)
• Exploration target: 0.9‑2.1 bn t @ 0.20‑0.22% Ni (conceptual).
• Qualified Persons: Edwin Escarraga, MSc, P.Geo. (QA/QC); Stephen J. Balch, P.Geo., VP Exploration (data verification).

Notable Quotes

“Reid continues to deliver, with today's results confirming its substantial potential size and scale… We look forward to further demonstrating Reid's scale with an updated resource by year‑end.” – Mark Selby, CEO