EVNI.V · 2026-05-07 12:00:00

Ev Nickel Reports Significant High-Grade Intersection of 34.60M Grading 1.06% Nickel at Langmuir #2

Drill Results

May 7, 2026 TSX-V: EVNI

EV NICKEL REPORTS SIGNIFICANT HIGH-GRADE INTERSECTION OF

34.60M GRADING 1.06% NICKEL AT LANGMUIR #2

• EV26-L08 intersected 34.60m grading 1.06% Ni, incl. 13.70m grading 1.76% Ni, 5.60m grading 3.00% Ni

• Intercept confirms down plunge extension of high grade nickel sulphides at Langmuir #2

• All 3 holes on Langmuir South Zone intersect significant nickel mineralization

• Holes L06 and L07 intersect additional high-nickel tenors sulphides associated with Langmuir South

TORONTO, ON – EV NICKEL INC. (TSX-V: EVNI) (“EVNi” or the “Company”) is pleased to announce a strong high-grade nickel

intercept from its 2026 diamond drilling program at the Langmuir #2 / Langmuir South Project, located near Timmins,

Ontario.

Drill hole EV26-L08 intersected 34.60 metres grading 1.06% nickel, including 13.70 metres grading 1.76% nickel and 5.60

metres grading 3.00% nickel, confirming the down -plunge extension of high-grade nickel sulphide mineralization at the

Langmuir #2 Zone.

The 2026 spring exploration program comprised four diamond drill holes totaling 1,772 metres, targeting both the

Langmuir South Zone and extensions of mineralization below and along strike from the historic Langmuir #2 Mine.

Drill hole EV26-L08 was specifically designed to test the down -plunge continuity of the main high -grade nickel sulphide

zone. The hole successfully intersected the mineralized system beneath historic mine workings, with mineralization

consisting of disseminated to semi-massive sulphides associated with the basal contact of a peridotitic host unit.

“The high-grade nickel intercept in EV26-L08 represents one of the best nickel intercepts I have drilled in my exploration

career,” said Paul Davis, Vice President Exploration. “The Langmuir #2 and Langmuir South projects have the potential to

host a significant deposit of high -grade nickel sulphides and represent an excellent near -term mining opportunity. This

could provide a new domestic source of Class 1 nickel into Canada’s s upply chain. When coupled with our advancing

bioleach processing program, EVNi is well positioned to produce battery -grade products such as nickel MHP and nickel

sulphate for the North American EV market.”

Photo 1: EV26-L08 Semi-Massive Ni Sulphide

Drill hole Target Area From

(m)

Length

(m)

(%)

(ppb)

EV26-L05 Langmuir South 297.70 299.00 1.30 0.47 0.001 0.032 0.33 43.0 89.0 95.0

302.40 304.15 1.75 0.45 0.006 0.014 0.31 7.9 47.7 73.4

307.00 309.60 2.60 0.37 0.007 0.012 0.16 2.8 15.0 31.7

327.30 329.25 1.95 0.37 0.007 0.012 0.35 4.2 15.8 30.5

338.00 347.80 9.80 1.20 0.056 0.022 1.47 18.3 68.1 152.0

incl. 339.00 341.30 2.30 2.03 0.124 0.034 2.46 35.0 115.5 268.4

incl. 343.80 346.25 2.45 1.49 0.036 0.029 2.07 20.9 82.2 183.6

EV26-L06 Langmuir South 318.00 318.75 0.75 1.01 0.013 0.053 1.18 14.2 76.8 158.9

324.15 324.70 0.55 1.88 0.015 0.048 1.81 13.0 131.0 280.0

331.50 334.40 2.90 0.47 0.008 0.015 0.35 5.9 25.4 47.4

337.00 344.00 7.00 0.68 0.030 0.015 0.65 14.2 40.4 89.1

incl. 338.70 341.40 2.70 0.95 0.031 0.020 0.89 18.3 56.7 132.2

incl. 340.50 341.40 0.90 1.73 0.040 0.034 1.64 19.0 103.0 256.0

EV26-L07 Langmuir South 242.40 246.00 3.60 1.01 0.002 0.009 0.51 2.3 98.9 174.5

incl. 243.00 245.00 2.00 1.26 0.004 0.010 0.67 4.0 99.4 183.3

and 255.00 257.40 2.40 0.60 0.003 0.015 0.46 4.8 47.7 107.2

incl. 256.70 257.40 0.70 1.14 0.005 0.025 1.05 12.0 112.0 251.0

EV26-L07 Langmuir #2 476.10 510.70 34.60 1.06 0.057 0.026 2.19 6.7 89.5 168.7

incl. 477.00 481.10 4.10 1.39 0.045 0.028 1.73 9.5 89.6 220.7

incl. 497.00 510.70 13.70 1.76 0.115 0.042 4.36 11.2 163.9 301.8

incl. 501.50 507.10 5.60 3.00 0.182 0.069 7.78 19.7 291.4 530.8

Table 1: Shaw Dome - 2026 Langmuir #2 / South Drill Holes

1) Drill Intercepts represent drill widths only; true widths are unknown and have not been calculated

2) Nickel (Ni), Copper (Cu), Cobalt (Co), Iron (Fe) and Sulphur (S) by sodium peroxide fusion with an ICP finish

3) Platinum (Pt), Palladium (Pd) and Gold (Au) by fire assy and ICP-AES finish

The Langmuir #2 Project benefits from existing historical mining infrastructure, including a capped 440-metre-deep shaft

and associated underground development largely situated within EVNi’s property boundaries. Historical records indicate

that, prior to c losure in 1978, the Langmuir #2 Mine hosted approximately 600,000 tons averaging 1.45% nickel. This

historical estimate is considered relevant; however, a qualified person has not completed sufficient work to classify it as

a current mineral resource or reserve, and the Company is not treating it as such.

Results from the broader drill program continue to support the presence of a robust nickel system across both Langmuir

#2 and Langmuir South, with all holes intersecting significant mineralization and demonstrating strong continuity of high-

grade zones.

The Company will model and interpret these excellent exploration results and design a follow-up exploration program to

begin to determine the overall potential size and grade of the Langmuir #2 and Langmuir South zones. The timing and

scope of the next phase will be developed over the coming months with an objective to effectively advance the project.

Drill Hole UTM Easting

(mE)

UTM Northing

(mN)

Elevation

(m)

Dip

(°)

Azimuth

(°)

Depth

(m)

EV26-L05 499986 5353838 280.7 -52 283.89 375

EV26-L06 499983 5353838 280.7 -54 283.26 425

EV26-L07 499983 5353841 280.7 -52 295.19 375

EV26-L08 500085 5353922 279.3 -66 306.36 597

Table 2: 2026 Drill Program - Langmuir #2 / Langmuir South -Location and

Core Handling and Assay-QA/QC Procedures

NQ Drill core samples from EVNi drilling program on the Geminin North Zone forming part of the Shaw Dome Project were

sawn in half at the core logging facility located near the Shaw Dome Project with one half being retained and the other

half bagged and tr ansported to Activation Laboratories Limited (“Actlabs”) in Timmins for preparation and 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 laboratory. At Actlabs, samples are crushed to 80% passing 2mm. A riffle split

is pulverized to 95% passing 105 microns. Nickel, copper, cobalt, iron and sulphur are analyzed by peroxide fusion with an

ICP-OES finish and gold, platinum and palladium are analyzed by Fire Assay with an ICP-OES finish. These and future assay

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

Qualified Person

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.

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 providing 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.

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: John Paterson, Interim President & CEO at [email protected].

EV Nickel Inc.

200 - 150 King St. W,

Toronto, ON M5H 1J9

Ph: 647-948-7472

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.

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