Canada Nickel Releases Positive Results from Crawford Nickel Project Economic Impact Study
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Canada Nickel Releases Positive
Results from Crawford Nickel Project Economic Impact Study
Highlights
• Contributes over $70 billion to Canada’s GDP over 40+ year project life
• Generates over $16 billion in federal and provincial tax revenues
• On average, provides $16 billion in labour income from approximately 1,000 direct jobs and
over 3,000 indirect and induced jobs
TORONTO, October 15, 2025 – Canada Nickel Company Inc. ("Canada Nickel" or the "Company") (TSXV:
CNC) (OTCQX: CNIKF) today announced the results from an economic impact study completed for its
flagship Crawford Nickel Project (“Crawford”), located in the Timmins Nickel District of Ontario.
The study, prepared by Mansfield Consulting, estimates that Crawford will generate a total economic
contribution of over $70 billion to Canada’s Gross Domestic Product (“GDP”), over the project's projected
40+ year life of the mine, with $67 billion of that impact in Ontario alone . Crawford is also expected to
support approximately 1,000 direct and 3,000 indirect and induced jobs, totaling approximately 185,000
person-years of employment and delivering approximately $16 billion in labour income. In addition, under
the study, Crawford is projected to generate $7.7 billion in federal tax revenues and $ 8.3 billion in
provincial tax revenues.
“These results confirm Crawford’s potential as one of our country’s most significant new critical minerals
projects,” said Mark Selby, CEO of Canada Nickel Company. “Crawford is projected to generate substantial
economic benefits for both Ontario and Canada while supplying the nickel and other critical minerals
needed to meet growing global demand. The scale of this Project – its long-term jobs, tax revenues, and
GDP contributions– combined with the value generated from local downstream processing plants and the
potential from eight additional projects , reinforces the Timmins Nickel District ’s emerging status as
Ontario’s Critical Minerals Corridor.
Mr. Selby continued, “Unlike many other critical mineral projects, Crawford is already well -advanced in
permitting, has all of the major infrastructure in place, and has strong community support . With these
crucial elements already established, Crawford is uniquely positioned to move forward efficiently and
deliver tangible benefits sooner. Importantly, Crawford’s benefits will be delivered through established
and collaborative partnerships with Indigenous Nations, who are actively engaged as co-developers in our
shared success.”
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Economic Study
The study quantified the economic impacts from the development and operation of Crawford across all
phases of the project and assessing the impacts in Ontario and other regions of Canada. Economic
impacts were estimated at the direct, indirect, and induced levels. Direct impacts are changes that occur
with “front-end” businesses that initially receive operating revenues and incur expenditures. During the
development of a mine, direct impacts occur with the mine owner and with other businesses that may
receive a portion of the initial spending on a project. During the operation of a mine, direct impacts occur
with the mine owner and with other businesses that may receive a portion of the mine revenues. Indirect
impacts are changes that occur with supplie rs of the front -end businesses. During the development or
operation of a mine, indirect impacts occur with suppliers of goods and services to the mine. Induced
impacts are changes that occur in the general economy through the spending by employees of front-end
businesses and suppliers. During the development or operation of a mine, induced impacts result from
the spending of mine employees and employees of mine suppliers in the general economy. Labour
income is the total amount of wages and salaries paid to staff and employees. The study was based on
information from the Company’s feasibility study published in November 2023.
Total Impacts in Canada
GDP
(billions)
Labour Income
(billions)
Federal Tax
Revenues
(billions)
Provincial Tax
Revenues
(billions)
Direct $51.7 $5.3 $5.0 $6.0
Indirect $11.2 $7.1 $1.5 $1.0
Induced $7.4 $3.5 $1.3 $1.3
Total $70.2 $15.9 $7.7 $8.3
Federal and Provincial Taxes – Direct
Federal
(billions)
Provincial
(billions)
Total
(billions)
Corporate Income Tax $4.2 $2.8 $7.0
Mining Tax - $2.6 $2.6
Other Taxes (Personal Income Tax
and Others)
$0.8 $0.6 $1.5
Subtotal - Total Tax Revenues $5.0 $6.0 $11.0
CTM Investment Tax Credit (1.1) - (1.1)
Total $3.9 $6.0 $9.9
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Qualified Person
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 reviewed and
approved the technical information in this news release.
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 politi cal 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.
Media, please contact:
Sydney Oakes
Director of Indigenous Relations and Public Affairs
For further information, please contact:
Mark Selby
CEO
Phone: 647-256-1954
Email: [email protected]
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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, the
results of the economic impact study in respect of Crawford (including total economic contribution, job
creation and tax revenue generation) , the potential of Crawford and the Company's other projects,
permitting, partnerships with Indigenous Nations , strategic plans, including future exploration and
development plans and results, and corporate and technical objectives. 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 an d 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. 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 info rmation. 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.