FPX Nickel Increases Private Placement

Suite 620 – 1155 West Pender

Street

Vancouver, BC Canada V6E 2P4

Tel: 604.681.8600

e-mail: [email protected]

FPX Nickel Increases Private Placement

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES

OR FOR DISSEMINATION IN THE UNITED STATES

Vancouver, August 23, 2019 – FPX Nickel Corp. (FPX-TSX.V) (“FPX Nickel” or the “Company”) is

pleased to announce that as a result of positive investor response to its previously announced private

placement offering of 8,000,000 common shares (“Common Shares”) of the Company at a price of $0.1 5

per Common Share (the “ Issue Price”) for gross proceeds of $ 1,200,000 (see news release dated August

22, 2019), the Company has decided to increase the size of the offering up to a maximum of 8,333,333

Common Shares at the Issue Price, for aggregate gross proceeds of up to $1,250,000 (the “ Private

Placement”). The Private Placement is expected to close in September 2019.

The proceeds raised from the Private Placement will be used for the Company’s ongoing internal trade-off

studies on the Baptiste Deposit at its flagship Decar Nickel District in central British Columbia, and for

general working capital purposes.

All the securities issued pursuant to this private placement will be subject to a four (4) month hold period.

The Private Placement is subject to certain conditions including, but not limited to, the receipt of all

necessary regulatory and other approvals, including acceptance by the TSX Venture Exchange.

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel -Iron Alloy Project,

located in central British Columbia, and other occurrences of the same unique style of naturally occurring

nickel-iron alloy mineralization known as awaruite. For more information, please view the Company’s

website at www.fpxnickel.com or contact Martin Turenne, President and CEO, at (604) 681-8600.

On behalf of FPX Nickel Corp.

"Martin Turenne"

Martin Turenne, President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered “forward-looking

information” within the meaning of applicable Canadian securities laws. These statements address future

events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's

periodic filings with Canadian securities regulators. Actual results could differ from those currently

projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the

adequacy or accuracy of this release.