Fort St. James Nickel reprices financing

TSX.V : FTJ BER : WL3P OTC : OARFF

September 26, 2022 News Release

Fort St. James Nickel reprices financing

Vancouver, British Columbia – September 26, 2022- Fort St. James Nickel Corp. (TSX.v:FTJ) (“FTJ” or the “Company”) announces that it is repricing the private placement previously announced on September 16, 2022. The units have been repriced from $0.03 to $0.04. The Company will issue up to 1,500,000 units at a price of $0.04 per unit for gross proceeds of $60,000. The units of the financing will comprise of one common share and a full share purchase warrant, which may be exercised for a period of five years at a price of $0.05 per share.

The proceeds from the Private Placement will be used for general working capital purposes.

Directors, officers or other insiders of the Company may participate in the foregoing offerings, and such parties may sell securities of the Company owned or controlled by them personally through the facilities of the TSX Venture Exchange to finance participation in such offerings.

A finder's fee may be paid to eligible finders, in accordance with TSX Venture Exchange policies. All securities issued pursuant to the offering will be subject to a hold period of four months and one day from the date of closing. The offering and the payment of a finder's fee are subject to approval by the TSX-V.

ON BEHALF OF THE BOARD

“Barry Brown”

President

Fort St James Nickel Corp. 604-488-3900

Forward-Looking Statements

This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com . These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.