NNX.V · 2023-01-10 12:00:00

Nickel North Discovers High-Grade Ni-Cu Sulfide Mineralization at Hawk Ridge Project up to 3.12% Nickel and 4.63% Copper, Announces Participation at AME Roundup 2023

Drill Results

Nickel North Discovers High-Grade Ni-Cu

Sulfide Mineralization at Hawk Ridge Project

up to 3.12% Nickel and 4.63% Copper,

Announces Participation at AME Roundup

2023

Vancouver, British Columbia--(Newsfile Corp. - January 10, 2023) - Nickel North Exploration

Corporation (TSXV: NNX) ("Nickel North" or the "Company") is pleased to announce the assay results of

2022 Rock Samples and discover the high-grade Ni-Cu-Co-PGE Sulfide mineralization at four

previously delineated targets of the Hawk Ridge Nickel-Copper-Cobalt and PGE (Platinum Group

Elements) Project in Northern Quebec.

A total of 57 rock samples, including 2 shallow backpack drilling cores have been collected during the

2022 summer program. The rock sampling locations are shown in the Figure 1 and significant assay

results are listed in Table 1 below.

Highlights of the Assay Results of the Rock and Drill Cores Samples at Hawk Ridge Project.

Falco 7 zone

Rock samples confirm an undrilled, large area (300m X 50m in size) of the medium-grade massive-

disseminated Ni-Cu-Co-PGE sulfide mineralization to the southwest area of previously drilled Falco 7

zone. The Ni and Cu grades are up to 0.29% and 0.83% respectively with Co and PGE credits (Figures

2-3 and Table 1).

Hope Advance (HAN and HAM) Zone

Hope Advance North (HAN) Zone, a 500m long and 5 to 20m wide high-grade massive sulfide Ni-Cu-

Co-PGE mineralization was confirmed by the outcrop rock samples of S786360 and S786361 which

shows the Ni up to 1.85%, Cu up to 1.72%, Co up to 0.13% and Pd up to 1.16 g/t (Figures 4-5 and Table

1). Medium-grade Ni-Cu sulfide mineralization zone (HAM) is up to 1000m long and 50 m wide along the

structure (Figure 4).

Gamma Zone

Two 2-meters backpack drilling holes from GABH-22-01 and GABH-22-02 were reported at 3.12% Ni,

4.63% Cu, 0.14% Co and 0.88 g/t Pd and 0.35% Ni, 0.92% Cu respectively (Figures 6-7, Table 1).

The surface outcrop rock samples were reported up to 2.51% Ni, 4.89% Cu and 0.16% Co and 1.02 g/t

Pd (Figure 5, Table 1). The surface mineralized horizon can be followed up to 1000 m along and >30

wide (Figure 6).

Pio Zone

Pio Zone was an only historical mined area in the Hawk Ridge project. There were historical ore piles

(Figure 8) in the area. The outcrop samples confirm the mineralization zone could be extended to both

south and north direction along the structure (Figure 9). The Ni and Cu grades are up to 0.76% and

5.37% respectively with Co and PGE credits (Table 1).

Tony Guo, President and CEO of the Company, commented

"2022 rock and backpack drilling

program confirm the exploration model that the high-grade sulfide body was lens-like in form in all

four zones. Nickel North now is setting out to drill/test the scope and scale of these multiple high-grade

"Raglan Type" Ni-Cu sulfide targets such as Gamma Zone and HAN Zone in 2023 while continuing to

advance the other targets on its ~179km

, 50km long, 100% owned property in Northern Quebec."

Figure 1

Hawk Ridge Project, 2022 Rock Sampling Program Areas

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/1698/150833_e206dff4346fcb80_001full.jpg

Table 1

Significant assay results of rock samples at Hawk Ridge Project

Sample ID

Target Zone

Lithos

Ni PPM

Cu PPM

Co PPM

Pd PPB

Fe %

S786362

Falco 7

Mss. Py+Pyr

421

471

133

33.31

S786363

Falco 7

Mss. Py+Pyr

361

1416

159

40.15

S786365

Falco7 North

Mss. Ni-Cu

1800

8250

147

330

10.47

S786366

Falco7 North

Mss. Ni-Cu

2949

3059

428

225

28.6

S786369

Falco7 North

Mss. Ni-Cu

408

4988

127

18.75

S786360

HAN

5m wide Mss. Ni-

Cu, Periodite

2223

11540

152

1164

14.53

S786361

HAN

20m wide, Mss.

Ni-Cu

18450

17180

1249

170

S786505

HAN

Mss. Dunite

560

57440

510

13.87

S786358

HAM

15m. Wide Diss

Glo Gabbro

521

8888

262

6.12

S786457

HAM

Diss Glo Gabbro

475

1502

6.34

S786508

HAM

Gossan

311

2809

104

7.4

S786355

Gamma

Diss Schist

253

395

100

31.74

S786356

Gamma

3M wide, Mss. Ni-

Cu, Main zone

25070

48890

1618

1019

52.58

S786357

Gamma

1.5m wide, Mss.

Ni-Cu

5456

44350

239

497

25.57

S786370

Gamma

Mss. Ni-Cu,

GABH-22-01

31200

46310

1411

875

51.61

S786371

Gamma

Diss. Glo Gabbro,

GABH-22-02

3544

9170

271

141

9.37

S786403

Gamma

Glo Gabbro

859

6465

196

6.6

S786467

Gamma

Glo Gabbro

340

10540

173

6.54

S786468

Gamma

Glo Gabbro

333

2899

129

5.9

S786351

Pio zone

Mss. Py+Pyr

500

3855

36.06

S786472

Pio zone

Mss.Gabbro

252

1203

34.16

S786367

Pio zone

Diss. Basalt

1152

8802

259

9.7

S786354

Pio zone

Mss. Ni-Cu

2525

53680

103

803

42.85

S786353

Pio zone

Mss. Py+Pyr

290

848

33.81

S786364

Pio zone

Mss. Ni-Cu

7622

44650

190

446

22.83

S786503

Pio zone

Mss. Ni-Cu

3630

12370

122

224

40.68

1 Notes

: Py, Pyrite; Pyr, Pyrrhotite; Diss, Disseminate; Mss, Massive; Glo, Glomeroporphyritic; HAM, Hope Advance Main; HAN, Hope Advance

North; GABH-22-01, 02; 2022 Backpack drilling hole number

Figure 2,

Outcrop rock samples with Cu grades (ppm) in the undrilled area at Falco 7 Zone at Hawk

Ridge Project

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/1698/150833_e206dff4346fcb80_002full.jpg

Figure 3

Outcrop of massive to semi-massive Ni-Cu Sulfides in the undrilled southwest area (300 m x

50 m) in the Falco 7 Zone at Hawk Ridge Project

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/1698/150833_img3.jpg

Figure 4

Up to 500m long high-grade massive sulfide HAN zone and Up to 1000 m long, 50m wide

medium grade disseminated sulfide HAM zone were confirmed by outcrop rock samples

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/1698/150833_e206dff4346fcb80_004full.jpg

Figure 5

Outcrop of massive Ni-Cu Sulfides with Ni, Cu and Co grades up to 1.85%, 1.72% and 0.13%

respectively the north area in the Hope Advance North Zone at Hawk Ridge Project

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/1698/150833_img5.jpg

Figure 6

Up to 1,000m long and 30m wide high-grade massive Ni-Cu-Co-PGE sulfide mineralization of

Gamma Zone at Hawk Ridge Project

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/1698/150833_e206dff4346fcb80_006full.jpg

Figure 7

High-grade massive sulfide cores from GABH-22-01 Backpack drilling hole from Gamma

Zone at Hawk Ridge Project with Ni @3.12%, Cu @4.63% and [email protected]%

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/1698/150833_img7.jpg

Figure 8

Old Ore Piles at Pio Zone with Ni @ 0.25% and Cu @5.37%

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/1698/150833_e206dff4346fcb80_008full.jpg

Figure 9

Outcrop rock samples at Pio Zone at Hawk Ridge Project

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