Flying Nickel Closes First Tranche Private Placement for Proceeds of $207,166

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THE UNITED STATES

Flying Nickel Closes First Tranche Private Placement

for Proceeds of $207,166

Vancouver, British Columbia, November 1, 2023 – Fly ing Nickel Mining Corp. (“Flying

Nickel” or the “Company”) (TSX-V:FLYN, OTCQB:FLYNF) is pleased to announce that it has

closed the first tranche of a non-brokered private placement (the “Private Placement”) of

2,301,844 common shares of the Company previously a nnounced on September 25, 2023,

raising gross proceeds of $207,166. The Private Placement was priced at $0.09 per share.

No finders fees were payable, and all securities issued in connection with the Private Placement

are subject to a regulatory hold period expiring on March 1, 2024.

Proceeds of the Private Placement will be used for exploration and general working capital.

About Flying Nickel

Flying Nickel Mining Corp. is a nickel sulphide exploration-stage mining company. The company

is advancing its 100% owned Minago nickel project i n the Thompson nickel belt in Manitoba,

Canada.

Further information on the Company can be found at www.flynickel.com.

FLYING NICKEL MINING CORP.

ON BEHALF OF THE BOARD

John Lee

Chief Executive Officer

For more information about the Company, please contact:

Phone: Phone: 1.877.664.2535 / 1.877.6NICKEL

Email: [email protected]

Neither TSX Venture Exchange nor its Regulation Ser vices Provider (as that term is defined in

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

release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, including statements which may contain words

such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions,

and statements related to matters which are not historical facts, are forward-looking information

within the meaning of applicable securities laws. Such forward-looking statements, which reflect

management’s expectations regarding Flying Nickel’s future growth, results of operations,

performance, business prospects and opportunities, are based on certain factors and

assumptions and involve known and unknown risks and uncertainties which may cause the actual

results, performance, or achievements to be materially different from future results, performance,

or achievements expressed or implied by such forwar d-looking statements. Forward-looking

information in this news release includes the statement concerning the expected use of proceeds

raised from the Private Placement.

Forward-looking statements involve significant risks and uncertainties, and should not be read as

guarantees of future performance, events or results, and may not be indicative of whether such

events or results will actually be achieved. A number of risks and other factors could cause actual

results to differ materially from expected results discussed in the forward-looking statements,

including but not limited to: changes in business p lans; ability to secure sufficient financing to

advance the Company’s project, ability to complete the Company’s prosed merger with Nevada

Vanadium Mining Corp. by plan of arrangement (the “Proposed Transaction"), as announced by

press releases on October 5 and August 23, 2022 (collectively, the “Joint News Releases”); and

general market, industry and economic conditions. See the Joint News Releases for further details

about the Proposed Transaction and its associated r isks. Further details about the risk factors

concerning the proposed transaction are set out in such news releases. Additional risk factors are

set out in the Company’s latest annual and interim management’s discussion and analysis,

available on SEDAR at www.sedarplus.ca.

Forward-looking statements are based on reasonable assumptions by management as of the

date of this news release, and there can be no assu rance that actual results will be consistent

with any forward-looking statements included herein . Readers are cautioned that all forward-

looking statements in this news release are made as of the date of this news release. The

Company undertakes no obligation to update or revis e any forward-looking statements in this

news release to reflect circumstances or events tha t occur after the date of this news release,

except as required by applicable securities laws.