Ev Nickel - 2025 Surface Sampling Program Identifies 0.64% Nickel from Gemini North Area

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November 4, 2025 TSX-V: EVNI

EV NICKEL - 2025 SURFACE SAMPLING PROGRAM IDENTIFIES

0.64% NICKEL FROM GEMINI NORTH AREA

TORONTO, ON – EV NICKEL INC. (TSX -V: EVNI) (“EVNi” or the “ Company”) is pleased to announce assay results from 109

surface samples from the Gemini North Zone confirming the surface expression of large -scale nickel mineralization

including two higher grade samples from the western most outcrop exposures that assayed 0.64% nickel and 0.51% nickel.

The surface sampling program was focused on the Gemini North Zone, representing one of 5 additional large-scale targets

identified on the Company’s Shaw Dome Project located approximately 2km from its flagship Carlang A deposit (see figure

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Surface sampling was concentrated over outcrop exposures located on the western portion of the interpreted ultramafic

body, approximately 500 metres west of the previously announced Gemini North Nickel Sulphide Zone identified in

diamond drilling programs completed in 2024 and 2025 (see figure 2; see press releases dated November 12, 2024, March

19, 2025 and May 26, 2025). Of the 1 09 samples submitted for analysis, 86 of the samples were from the targeted

peridotites and dunites ranging from 0.15% Ni to 0. 64% nickel, where 73% of the assay samples graded above 0.24%

nickel. Two samples taken on the western edge of the ultramafic body returned values of over 0.5% Ni indicating a

significant enrichment of nickel and are highly encouraging when compared to t he CarLang A Deposit that contains in

accordance with National Instrument 43-101, a combined Resource of 1.1B tonnes @ 0.24% Ni consisting of an Indicated

Resource of 0.5B tonnes @ 0.25% Ni and an Inferred Resource of 0.5B tonnes @ 0.23% Ni (see press release dated February

28, 2023 and/or SEDAR filing dated April 12, 2023).

“It is extremely exciting to have two values over 0.5% nickel exposed at surface on the Gemini North Zone and represent

the best surface nickel grades observed along the CarLang Trend to date. The impact of the higher nickel contents on

these large-scale deposits is that with each increase of 0.01% nickel above 0.24% nickel, it increases the contained insitu

nickel pounds by approximately 4% relative to the CarLang A resource grade,” said Paul Davis, Vice President Exploration.

“Being able to observe these results at surface, without significant overburden cover, is a major advantage for this area in

terms of exploration and development. CarLang A was the first deposit brought to a mineral resource within the area and

it is expected that the CarLang Trend hosts a number of similar or better targets, where the Gemini North Zone represents

the first of these targets to be expanded and explored.”

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As part of the ongoing exploration program on the Shaw Dome Project, the Company is currently completing the next

phase of drilling on the Gemini North Zone, has an ongoing metallurgical program designed to test the potential recovery

characteristics of the nickel sulphide mineralization associated with the Gemini North Zone . The Com pany is also

continuing to determine the amenability of the bioleaching process to treat the sulphide concentrates. It is anticipated

that the Company will complete a preliminary mineral resource estimate on the Gemini North Zone once all data has been

received and analyzed.

The Company is also pleased to announce the overwhelming support of the warrant holders of the Company in exercising

their warrants issued in 2023 (the “2023 Warrants"). Since July of this year, a total of 32,865,356 2023 Warrants were

exercised for the same number of common shares, raising $2,957,882 and representing 99% of the Company’s remaining

2023 Warrants. The funds received will be retained as cash buffer and used for general corporate purposes. Together

with current cash on hand, funds received by the warrant exercise as hard dollars would provide the Company with well

in excess 48 months of funded operations at current overhead rates.

Assay QA/QC

Surface samples from EVNi sampling program on the CarLang Trend at the Shaw Dome Project are sampled and bagged

in the field and reviewed at the core logging facility located near the Shaw Dome Project. Samples are transported to ALS

Canada Ltd. (“ALS”) for analysis. Samples, along with certified standards and blanks, that are included by the Company for

quality assurance and quality control, were prepared and analyzed at the laboratories. At ALS, samples are crushed to 70%

less than 2mm. A riffle split is pulverized to 85% passing 75 microns. Nickel, copper, cobalt and sulphur are analyzed by

sodium peroxide fusion with an ICP finish and platinum, palladium and gold by fire assay and ICP -AES finish. At SGS ,

samples are crushed to 75% less than 2mm. A riffle split is pulverized to 85% passing 75 microns. Nickel, copper and cobalt

are analyzed by sodium peroxide fusion with an ICP -AES finish, platinum, palladium and gold by fire assay and IC P-AES

finish, whole rock analysis for 13 oxides by ICP -AES finish and sulphur by Leco. These and future assay results may vary

from time to time due to re‒analysis for quality assurance and quality control.

About EV Nickel Inc.

EV Nickel’s mission is to provide the world with clean nickel from Tier 1 jurisdictions. Our projects are located within 30

km of Timmins, a developing hub of clean critical minerals for the North American battery and stainless-steel markets and

an important emerging critical mineral district for the North American efforts to bring on-shore the full vertical integration

of electric batteries and vehicles.

EV Nickel aims to play an integral part of the North American on -shoring initiative as the Company’s clean , low carbon

deposits can be an important source of supply to support the Inflation Reduction Act (IRA) and Ontario and Federal policies

and initiatives which strive to bring clean critical mineral production from Canada into the North American supply chain

and globally.

In further support of this initiative, the Company has and will continue to partner with environmentally responsible and

ethical organizations from around the province and around the world to assist in developing these essential critical

minerals. EV Nick el is also eager to collaborate with all stakeholders and leading sustainable engineering, mining,

automotive and battery companies to provide this key input to support global decarbonization initiatives. The

governments of Ontario and Canada are also pro viding significant legislative, policy and financial support to help ensure

that the Timmins region becomes a leading participant in the developing North American supply chain for the clean

transition energy.

Qualified Person

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The Company’s Projects are under the direct technical supervision of Paul Davis, P.Geo., and Vice -President of the

Company. Mr. Davis is a Qualified Person as defined by NI 43-101. He has reviewed and approved the technical information

in this press release. There are no known factors that could materially affect the reliability of the information verified by

Mr. Davis.

Cautionary Note Regarding Forward-Looking Statements:

This press release contains forward-looking information. Such forward-looking statements or information are provided

for the purpose of providing information about management's current expectations and plans relating to the future.

Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-

looking information may be identified by words such as "anticipate", "proposed", "estimates", "would", "expects",

"intends", "plans", "may", "will", and similar expressions. Forward-looking statements or information are based on a

number of factors and assumptions which have been used to develop such statements and information, but which may

prove to be incorrect. Although EVNi believes that the expectations reflected in such forward-looking statements or

information are reasonable, undue reliance should not be placed on forward-looking statements because the Company

can give no assurance that such expectations will prove to be correct. Factors that could cause actual results to differ

materially from those described in such forward-looking information include, but are not limited to, changes in business

plans and strategies, market conditions, share price, best use of available cash, the ability of the Company to raise

sufficient capital to fund its obligations under various contractual arrangements, to maintain its mineral tenures and

concessions in good standing, and to explore and develop its projects and for general working capital purposes, changes

in economic conditions or financial markets, the inherent hazards associated with mineral exploration, future prices of

metals and other commodities, environmental challenges and risks, the Company's ability to obtain the necessary

permits and consents required to explore, drill and develop its projects and if obtained, to obtain such permits and

consents in a timely fashion relative to the Company's plans and business objectives, changes in environmental and

other laws or regulations that could have an impact on the Company's operations, compliance with such laws and

regulations, dependence on key management personnel, and general competition in the mining industry. These risks, as

well as others, could cause actual results and events to vary significantly. The forward-looking information in this press

release reflects the current expectations, assumptions and/or beliefs of EVNi based on information currently available to

the Company. Any forward-looking information speaks only as of the date on which it is made and, except as may be

required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking

information, whether as a result of new information, future events or results or expressly qualified by this cautionary

statement.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended (the " U.S. Securities

Act "), or any applicable state securities laws and may not be offered or sold to, or for the account or benefit of, persons

in the United States or "U.S. persons," as such term is defined in Regulation S promulgated under the U.S. Securities Act,

absent registration or an exemption from such registration requirements. This press release shall not constitute an offer

to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any jurisdiction in which such

offer, solicitation or sale would be unlawful.

Contact Information

For further information, visit www.evnickel.com

Or contact: Paul Davis

E-mail: [email protected]

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EV Nickel Inc.

200 – 150 King St. W

Toronto, ON M5H 1J9

www.evnickel.com

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

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