Canada Nickel Announces Assay Results from Second High Grade Sulphide Intersection at Bannockburn Project

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Canada Nickel Announces Assay Results from Second

High Grade Sulphide Intersection at Bannockburn Project

Highlights

• Well-mineralized interval grading 1.11% nickel over 10.1 metres including 1.32% nickel, 0.17%

copper and 0.55 g/t palladium + platinum over 4.4 metres

• Mineralized interval is 138 metres northwest of BAN24-18 which intersected 1.61% nickel over

12.0 metres including 3.95% nickel over 4.0 metres

• Follow-up drillhole BAN24-21 is in progress with BHEM survey scheduled

TORONTO, December 05, 2024 – Canada Nickel Company Inc. ("Canada Nickel " or the

"Company") (TSXV: CNC) (OTCQX: CNIKF) is pleased to announce assay results for drill hole BAN24-20

at the Company’s Bannockburn property, which intersected 15.7 metres of net-textured sulphides within

a disseminated sulphide-bearing peridotite. Bannockburn is one of the Company’s southern exploration

properties in the Timmins Nickel District.

CEO Mark Selby said, “We are very pleased that this second hole at Bannockburn intersected a well-

mineralized interval grading 1.11% nickel across 10.1 metres and correlates with both the geophysical

target that had been identified in the prior borehole survey and the observed mineralization. We look

forward to continuing to unlock the higher-grade potential of this target, and to testing other high

potential conductors identified at the Bannockburn property.”

Bannockburn Property

The Bannockburn property is located 65 kilometres south of Timmins and approximately 20 kilometres

west of Matachewan, Ontario, and is in the vicinity of the Company’s Midlothian and Sothman properties.

The Company has been primarily focused on the large tonnage, low grade nickel zone (the B-Zone) and

has identified a number of new prospective targets which are being tested for higher-grade material.

Bannockburn F-Zone

Results from assays for high grade nickel mineralization identified in drillhole BAN24-20 highlight up to

1.32% nickel over 4.4 metre within a well mineralized zone of 0.80 % nickel in 15.7 metre drillhole length.

(Figure 1a). Hole BAN24-20 intersected the BHEM target at 470 metres downhole (within 20 metres of

the interpreted location), within a strongly serpentinized peridotite that includes net-textured to locally

semi-massive sulphides. The strongly mineralized peridotite is approximately 10.1 metres in core length

and is followed by strongly serpentinized peridotite with disseminated nickel mineralization to end of

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hole.

The Company completed a new BHEM survey in BAN24-20 to test the continuation and extent of the high-

grade horizons intersected in holes BAN24-18 and BAN24-20. The two intersections appear to be from

two separate lenses. Massive sulphides at BAN24-18 appear within a volcanic package, whilst sulphides

at BAN24-20 are at the upper contact of a thick sequence of mineralized ultramafic rocks. The Company

is currently following up drilling the target with hole BAN24-21.

Table 1: Selected Assays BAN24-20

Hole ID From

(m)

To

(m)

Length

(m)* Ni % Cu % Co % Pd g/t Pt g/t S (%)

BAN24-20 470.3 486.0 15.7 0.80 0.08 0.03 0.207 0.084 4.58

including 470.3 480.4 10.1 1.11 0.13 0.04 0.318 0.126 6.99

including 476.0 480.4 4.4 1.32 0.17 0.05 0.394 0.157 7.78

*Drillhole length. True width not calculated

Figure 1 – BAN24-20, core pictures a; (467.0-485.3 metres)

a) Volcanics to peridotite contact, with Net-texture sulphides (Po (Pyrrhotite)>Pn (Pentlandite) and continuing

into disseminated sulphides

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Table 2: Drillhole Orientation

Hole ID Easting (mE) Northing (mN) Azimuth (⁰) Dip (⁰) Length (m)

F-Zone

BAN24-20 507326 5311585 34 -60 552

Figure 2 Bannockburn B-zone and F-zone

Statement Regarding TSX Venture

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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of

the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Quality Assurance and Control, Drilling and Assaying

Edwin Escarraga, MSc, P.Geo., a "qualified person" as defined by National Instrument 43-101 – Standards

of Disclosure for Mineral Projects, is responsible for the on-going drilling and sampling program, including

quality assurance (QA) and quality control (QC). The core is collected from the drill in sealed core trays

and transported to the core logging facility. The core is marked and sampled at 1.5 metre lengths and cut

with a diamond blade saw. One set of samples is transported in secured bags directly from the Canada

Nickel core shack to Actlabs Timmins, while a second set of samples is securely shipped to SGS Lakefield

for preparation, with analysis performed at SGS Burnaby. All are ISO/IEC 17025 accredited labs. Analysis

for precious metals (gold, platinum and palladium) are completed by Fire Assay while analysis for nickel,

cobalt, sulphur and other elements are performed using a peroxide fusion and ICP-OES analysis. Certified

standards and blanks are inserted at a rate of 3 QA/QC samples per 20 core samples making a batch of 60

samples that are submitted for analysis.

Qualified Person and Data Verification

Stephen J. Balch P.Geo. (ON), VP Exploration of Canada Nickel and a "qualified person" as such term is

defined by National Instrument 43 -101 – Standards of Disclosure for Mineral Projects , has verified the

data disclosed in this news release, and has otherwise reviewed and approved the technical information

in this news release on behalf of Canada Nickel.

About Canada Nickel Company

Canada Nickel Company Inc. is advancing the next generation of nickel-sulphide projects to deliver nickel

required to feed the high growth electric vehicle and stainless steel markets. Canada Nickel Company has

applied in multiple jurisdictions to trademark the terms NetZero Nickel TM, NetZero Cobalt TM, NetZero

IronTM and is pursuing the development of processes to allow the production of net zero carbon nickel,

cobalt, and iron products. Canada Nickel provides investors with leverage to nickel in low political risk

jurisdictions. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel -Cobalt

Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp. For more information, please

visit www.canadanickel.com.

For further information, please contact:

Mark Selby

CEO

Phone: 647-256-1954

Email: [email protected]

Cautionary Statement Concerning Forward-Looking Statements

This press release contains certain information that may constitute "forward-looking information" under

applicable Canadian securities legislation. Forward looking information includes, but is not limited to,

drill and exploration results relating to the target properties described herein (the "Properties"), the

significance of drill results, the ability to continue drilling, the impact of drilling on the definition of any

resource, the potential of the Crawford Nickel Sulphide Project and the Properties, timing and

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completion (if at all) of mineral resource estimates, the ability to sell marketable materials, strategic

plans, including future exploration and development plans and results, corporate and technical

objectives, and the completion of assays, follow-up geophysics and further drilling . Forward -looking

information is necessarily based upon several assumptions that, while considered reasonable, are

subject to known and unknown risks, uncertainties, and other factors which may cause the actual results

and futu re events to differ materially from those expressed or implied by such forward -looking

information. Factors that could affect the outcome include, among others: future prices and the supply

of metals, the future demand for metals, the results of drilling, inability to raise the money necessary to

incur the expenditures required to retain and advance the property, environmental liabilities (known

and unknown), general business, economic, competitive, political and social uncertainties, results of

exploration programs, risks of the mining industry, delays in obtaining governmental approvals, and

failure to obtain regulatory approvals. There can be no assurance that such information will prove to be

accurate, as actual results and future events could differ materially from those anticipated in such

information. Accordingly, readers should not place undue reliance on forward-looking information. All

forward-looking information contained in this press release is given as of the date hereof and is based

upon the opinions and estimates of management and information available to management as at the

date hereof. Canada Nickel disclaims any intention or obligation to update or revise any forward-looking

information, whether because of new information, future events or otherwise, except as required by

law.