Gerald Mitton Files Early Warning Report

FOR IMMEDIATE RELEASE

Gerald Mitton Files Early Warning Report

Vancouver, British Columbia, October 4, 2023 - Mr. Gerald Mitton ("Mr. Mitton"), an insider of Fort St. James Nickel Corp. (the "Corporation") announces that on October 4, 2023, he acquired, pursuant to a private placement, ownership of 1,000,000 units ("Units") of the Corporation at a price of $0.06 per Unit, for an aggregate total of $60,000. Each Unit is comprised of one common share and one common share purchase warrant (a "Warrant Share"), whereby each Warrant is exercisable into purchase one additional common share in the capital of the Corporation at a price of $0.08 per Warrant Share on or before October 4, 2028.

As of the date hereof, Mr. Mitton has beneficial ownership, directly and control over 8,980,338 common shares and 2,750,000 share purchase warrants in the capital of the Corporation (together, the "FTJ Securities").

The FTJ Securities represent approximately 34.2% of the outstanding voting common shares of the Corporation on a non-diluted basis and 40.5% on a partially diluted basis. The FTJ Securities were acquired pursuant various transaction issuances by FTJ.

Mr. Mitton may, in the future, acquire or dispose of ownership and control over additional securities of the Corporation for investment purposes.

This Press Release is issued pursuant to National Instrument 62-103- The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with the applicable securities commissions or similar regulatory authorities in Canada, which report will contain additional information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will be filed on SEDAR under the Corporation's profile at www.sedar.com.

For further information please contact:

Mr. Gerald Mitton Suite 1100-1111 Melville Street Vancouver, BC V6E 3V6 Telephone: (604) 834-1898 Email at [email protected].