Canada Nickel Begins Submission of Federal Impact Statement for Crawford Nickel Sulphide Project

1

Canada Nickel Begins Submission of

Federal Impact Statement for Crawford Nickel Sulphide Project

TORONTO, October 2, 2024 – Canada Nickel Company Inc. ("Canada Nickel" or the "Company")

(TSXV: CNC) (OTCQX: CNIKF) has begun the submission of the federal Impact Statement (the

“Submission”) for the Crawford Nickel Sulphide Project (“the Project”) and expects to complete

this submission within the next six weeks.

The federal Impact Statement includes critical baseline data and analysis of the environmental,

social, and economic effects of the Project. It reflects Canada Nickel’s commitment to responsible

mining practices and outlines mitigation measures to address potential negative impacts,

therefore enhancing the Project ’s benefits. The findings within the Submission are a result of

extensive consultations with Indigenous Nations, local communities, government agencies,

subject matter experts, and key stakeholders.

“The submission of our federal Impact Statement for the Project represents another major

milestone for the Company and brings us one step closer to securing our permits, which we are

targeting in 2025,” said Mark Selby, CEO of Canada Nickel. “We’re grateful for the strong

partnerships we’ve built with Indigenous Nations and community stakeholders, who se

contributions have been essential in shaping the Submission. Their input and advice helped

ensure the Project aligns with our shared values of sustainability and regional economic growth.”

The Submission highlights the Company’s commitment to responsible development and aligns

with its public timeline commitments. “As the Crawford Nickel Sulphide Project continues to

make progress, it is well -positioned to drive regional economic growth and produce critical

minerals as global demand continues to rise , with Canada Nickel playing a key role in the global

transition to a low carbon economy.” added Selby.

For more details on the progress of the Crawford Nickel Sulphide Project, please visit

www.canadanickel.com

2

For Further Information, Please Contact:

Mark Selby, CEO

Phone: 647-256-1954

Email: [email protected]

Sydney Oakes, Director of Indigenous Relations and Public Affairs

Phone: 905-929-7151

Email: [email protected]

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 trademar k the terms NetZero

NickelTM, NetZero CobaltTM, 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 politi cal risk jurisdictions. Canada Nickel is currently

anchored by its 100% owned flagship Crawford Nickel Sulphide Project in the heart of the prolific

Timmins-Cochrane mining camp. For more information, please visit www.canadanickel.com.

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 , statements regarding: the Submission, including the expected

timeline of completion and the findings within and the results thereof; the enhancement of the

benefits of the Project; the ability and timing to secure permits, including federal and provincia l

permits; the responsible development of the Project; the potential for the Project to d rive

regional economic growth and produce critical minerals; the global demand for critical minerals;

the global transition to a low carbon economy; the advancement by the Company of the next

generation of nickel-sulphide projects to deliver nickel required to feed the high growth electric

vehicle and stainless steel markets ; and the development of processes to allow the production

of net zero carbon nickel, cobalt, and iron products . . Readers should not place undue reli ance

on forward looking statements. Forward -looking statements involve known and unknown risks,

uncertainties and other factors which may cause the actual results, performance or

achievements of Canada Nickel to be materially different from any future resu lts, performance

or achievements expressed or implied by the forward -looking statements. There are no

assurances that Crawford will be placed into production. Factors that could affect the outcome

include, among others: inability to repay indebtedness or comply with the covenants set out in

the Company's loan agreement s; the actual results of development activities; project delays;

inability to raise the funds necessary to complete development; general business, economic,

competitive, political and social uncertainties; future prices of metals or project costs could differ

substantially and make any commercialization uneconomic; availability of alternative nickel

sources or substitutes; actual nickel recovery; conclusions of economic evaluations; changes in

applicable laws; changes in project parameters as plans continue to be refined; accidents, labour

disputes, the availability and productivity of skilled labour and other risks of the mining industry;

3

political instability, terrorism, insurrection or war; delays in obtaining governmental approvals,

necessary permitting or in the completion of development or construction activities; mineral

resource estimates relating to Crawford could prove to be inaccurate for any reason whatsoever;

additional but currently unforeseen work may be required to advance to the feasibility stage; and

even if Crawford goes into production, there is no assurance that operations will be profitable.

Although Canada Nickel has at tempted to identify important factors that could cause actual

actions, events or results to differ materially from those described in forward-looking statements,

there may be other factors that cause actions, events or results to differ from those anticipated,

estimated or intended. Forward-looking statements contained herein are made as of the date of

this news release and Canada Nickel disclaims any obligation to update any forward-looking

statements, whether as a result of new information, future events or results or otherwise, except

as required by applicable securities laws. 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.