SPC Nickel Identifies Large-Scale Geophysical Targets at the Muskox Copper-Nickel-PGM Project, Nunavut

The news release dated January 26, 2026, announces the results of a 1,109 line-kilometre MobileMT electromagnetic survey at the company's 100%-owned Muskox Copper-Nickel-PGM Project in Nunavut. The survey identified a large, shallow, north-plunging stratiform conductive horizon with a strike length exceeding 27 kilometres, alongside several discrete high-conductivity anomalies (1-5 km² in area) that are prospective for sulphide mineralization. These targets remain open at depth and untested. The CEO, Grant Mourre, characterized the results as a "significant step-change," providing a modern, property-wide dataset to refine and prioritize drill targets for the 2026 exploration program.

The news is a routine, positive operational update. While it successfully continues the narrative of target generation at the large-scale Muskox project, it does not constitute a material value-creating event. The release reports geophysical interpretations and anomalies, not drill results, resource estimates, or a strategic transaction. The impact is informational, providing the next logical step in the exploration sequence following the HELITEM survey results released in December 2025. The market had already begun pricing in exploration success following the high-grade surface sample results in November 2025, meaning this geophysical data alone is unlikely to re-rate the stock further without subsequent drilling confirmation.

SPC Nickel Corp. is a Canadian junior exploration company focused on nickel, copper, and platinum group metals (PGM) in Tier-1 jurisdictions. Its flagship project is the Muskox Project in Nunavut, a 100%-owned, district-scale (496 km²) layered mafic-ultramafic intrusion with geological similarities to the giant Norilsk-Talnakh deposits. The project hosts widespread high-grade polymetallic sulphide mineralization along its basal contact, as evidenced by historical drilling (e.g., 7.50m at 6.14% Cu, 2.76% Ni, 9.06 g/t PGM) and the company's 2025 surface sampling (up to 18.15% Cu, 97.90 g/t Pd). The company's strategy is to use modern geophysics to generate drill targets across this underexplored system. The second key asset is the Lockerby East Property in the Sudbury Basin, Ontario, which hosts the Lockerby East (LKE) Resource (Indicated: 665,000 tonnes at 1.17% Ni, 0.28% Cu; Inferred: 124,000 tonnes at 0.99% Ni, 0.42% Cu). A drill program targeting high-conductivity EM anomalies down-dip of this resource commenced in October 2025.