Canada Nickel Continues Rapid Progression of Crawford Nickel Project Federal Permitting

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Canada Nickel Continues Rapid Progression

of Crawford Nickel Project Federal Permitting

TORONTO, April 4, 2023 – Canada Nickel Company Inc. (”Canada Nickel” or “The Company”) (TSXV:CNC)

(OTCQX:CNIKF) is pleased to announce commencement of the Impact Statement Phase for the Crawford

Nickel Project (“Crawford” or “the Crawford Project”) under the Impact Assessment Act.

Mark Selby, Chair & CEO of Canada Nickel said, “As we now enter the second phase of the Impact

Assessment process, we’d like to express our appreciation to our partners, stakeholders, and Indigenous

communities for their continued engagement, and to the Impact Assessment Agency of Canada for their

timely actions in efficiently progressing the Impact Assessment process for Crawford. As we continue our

rapid progression through project permitting, Canada Nickel remains committed to ensuring thorough,

meaningful baseline assessments, impact analysis, and engagement.”

An Important Step for the Crawford Nickel Project

The Impact Assessment process is a planning and decision -making tool used by regulators, Indigenous

communities, the general public, stakeholders, and proponents to emphasize the positive and resolve or

mitigate the negative imp acts of a proposed major project, and to ensure that the development of the

project is in the public’s best interest. The Impact Statement Phase, the second phase of the process,

culminates with the proponent’s submission of the Impact Statement, a detailed technical document that

identifies and assesses the potential impacts of a project and the measures proposed to mitigate those

effects.

About Canada Nickel

Canada Nickel is advancing the next generation of nickel -cobalt sulphide projects to deliver nickel and

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

successfully registered and applied for trademar ks in various jurisdictions for NetZero Nickel ™, NetZero

Cobalt™ and NetZero Iron™ 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 and

cobalt 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.

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For further information, please contact:

Mark Selby,

Chair and 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 informatio n"

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

to, drill results relating to the Crawford Nickel Sulphide Property, the potential of the Crawford Nickel

Sulphide Property, timing of economic studies and mineral resource estimates, the ability to sell

marketable materials, strategic plans, including future exploration and development results, and

corporate and technical objectives. Forward-looking information is necessarily based upon a number of

assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties,

and other factors which may cause the actual results and future 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, failure to obtain regulatory or shareholder

approvals, and t he impact of COVID -19 related disruptions in relation to the Company's business

operations including upon its employees, suppliers, facilities and other stakeholders. There can be no

assurance that such information will prove to be accurate, as actual resu lts 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 as a result of new information,

future events or otherwise, except as required by law.

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.