NOB.V · 2025-06-11 12:00:00

1the potential quantity and grade is conceptual in nature; there has been insufficient exploration to define a mineral resource; it is uncertain if further exploration will result in the target being delineated as a mineral

Corporate Updates

1the potential quantity and grade is conceptual in nature; there has been insufficient exploration to define a

mineral resource; it is uncertain if further exploration will result in the target being delineated as a mineral

resource (also see below).

TSX.V: NOB FWB: NB7 OTCQB: NLPXF

Noble Mineral highlights Mann West Nickel Sulphide Initial

Resource as announced by Canada Nickel

TORONTO, June 11, 2025 – Noble Mineral Exploration Inc. ("Noble" or the "Company") (TSXV: NOB) (OTCQB:

NLPXF) is pleased to announce the initial mineral resource at Mann West as announced by its joint venture partner

Canada Nickel in the East Timmins Nickel Company, operating in the Timmins area of Northern Ontario.

Noble CEO Vance White said “We congratulate our partner Canada Nickel on the work completed and the Initial

Resource estimate for Mann West project in Mann Twp and we are very excited about the prospects for East

Timmins Nickel along with the several additional projects to be included.”

Highlights:

• Mann West Significantly Larger than Initial Crawford Resource:

o Indicated Resource of 0.4 billion tonnes grading 0.23% nickel containing 0.95 million tonnes

of nickel

o Inferred Resource of 0.6 billion tonnes grading 0.22% nickel containing 1.31 million tonnes

of nickel.

o Indicated resource of 397,000 ounces palladium and platinum and Inferred resource of

593,000 ounces of palladium and platinum

o Exploration Target1 of an additional 0.5-1.0 billion tonnes grading 0.20-0.22% nickel

• Mann West is the third of eight new nickel resources expected to be published in 2025

TORONTO, June 11, 202 5 - Canada Nickel Company Inc. ("Canada Nickel " or the " Company") (TSX -

V:CNC) (OTCQB: CNIKF) today announced an initial mineral resource estimate (the “Mineral Resource

Estimate” or “MRE”) for its Mann West Nickel Sulphide Project (“Mann West”) near Timmins, Ontario. Mann

West is wholly owned by East Timmins Nickel Ltd. of which Canada Nickel owns 80% and Noble Mineral

Exploration Inc. owns 20%.

The Mann West Nickel Sulphide Project is located just 21 kilometres east of the Company’s Crawford Nickel

Sulphide Project (“Crawford”) and is more than twice the size of Crawford based on the outline of its

geophysical target of 3.4 square kilometres. The area of the geophysical target covered by the Mann West

resource represents approximately 40% of the total target area. The Mann West project is accessible year-

round.

1the potential quantity and grade is conceptual in nature; there has been insufficient exploration to define a

mineral resource; it is uncertain if further exploration will result in the target being delineated as a mineral

resource (also see below).

Mark Selby, CEO of Canada Nickel said, “Mann West marks a significant milestone with today’s

announcement, demonstrating a resource that surpasses the size and scale of our initial Crawford resource,

and that validates our belief in the potential of the Timmins Nickel District. With a target footprint more than

double Crawford’s, Mann West is just the third of eight new mineral resources we expect to announce by the

end of 2025, including two more this month.”

Mann West Mineral Resource Estimate

For the initial Mineral Resource Estimate, a total of 16,833 metres of core drilling in 37 drill holes were utilized

to calculate the Mann West Resources in two categories as provided in Table 1. Indicated Resources totalled

406 million tonnes grading 0.23% nickel, for a total of 0.95 million tonnes of contained nickel and Inferred

Resources totalled 599 million tonnes grading 0.22% nickel, for a total of 1.31 million tonnes of contained

nickel. The approximate dimensions of the resource are 1.9 kilometres long, 800 metres wide, extending to

500 metres deep and remaining open to the northwest and at depth. An additional 0.5 – 1.0 billion tonnes

grading between 0.20% and 0.22% nickel remain as an E xploration Target, pending further drilling . T his

Exploration Target is based on core drilling by the Company, the geophysical survey on the Project, and the

understanding and calculation of the current MRE. Within the resource, a PGM Zone containing an Indicated

resource of 7.0 million tonnes grading 0.422 g/t palladium + platinum and an Inferred resource of 7.7 million

tonnes grading 0.411 g/t palladium + platinum.

The Exploration Target was derived by modelling the identified nickel sulphide mineralization within the

current estimation envelope but outside of the current Mineral Resource Estimate area.

The volume of the mode lled Exploration Target area determines the potential tonnage statement in the

Exploration Target. The grade range given in the E xploration Target is determined with consideration to the

drill core results within the modelled Exploration Target area, consideration of the geological setting in a well

understood nickel deposit type where grades are observed and well understood, and based on the experience

of the Company and the Qualified Persons. The potential tonnages and grades are conceptual in nature and

are based on drill holes and geophysical results that define the approximate length, thickness, depth and

grade of the Exploration Target. There has been insufficient exploration to define a current mineral resource

and the Company cautions that there is a risk that further exploration will not result in the delineation of a

current mineral resource.

Drilling at Mann West was completed in 2023 and 2024. The 2024 campaign successfully completed the goal

of infilling previous sections to allow for the definition of an initial mineral resource estimate, gain

understanding on the geology of the deposit, as well as systematically collecting samples for mineralogical

analysis that have started to help define the potential of nickel recovery (see May 13, 2024 news release).

The Mann West Mineral Resource Estimate was prepared by Caracle Creek International Consulting Inc. in

accordance with CIM Estimation of Mineral Resources & Mineral Reserves Best Practice Guidelines (2019)

and CIM Definition Standards for Mineral Resources & Mineral Reserves (2014). A Technical Report in support

of the Mineral Resource Estimate will be filed on SEDAR+ (www.sedarplus.ca ) within 45 days of this news

release.

Table 1. Initial Total Mineral Resource Estimate (in-pit resources) for the Mann West Nickel Sulphide

Deposit.

Class Tonnage

(Mt)

(%)

(g/t)

(kt)

(Mt)

(kt)

(koz)

Indicated 406.1 0.23 0.012 6.5 0.32 0.018 0.013 949 49.1 26.4 1,283 231 166

Inferred 599.1 0.22 0.012 6.7 0.34 0.018 0.013 1,310 73.2 40.4 2,036 339 254

Table 2. Initial PGE Zone Mineral Resource Estimate (in-pit resources) for the Mann West Nickel

Sulphide Deposit.

Class Tonnage

(Mt)

(%)

(g/t)

(kt)

(Mt)

(kt)

(koz)

Indicated 7.0 0.04 0.007 5.6 0.40 0.238 0.184 2.7 0.5 0.4 27.9 53.4 41.4

Inferred 7.7 0.04 0.007 5.4 0.39 0.232 0.179 3.1 0.5 0.4 30.2 57.3 44.4

*Totals may not add due to rounding.

Notes to Table 1 and Table 2:

1. The independent Qualified Person for the Mineral Resource Estimate (“MRE”), as defined by National Instrument

43-101 (“NI 43- 101”), is Dr. Scott Jobin -Bevans (P.Geo., PGO #0183), of Caracle Creek International Consulting

Inc. The effective date of the Mineral Resource Estimate is May 30, 2025.

2. The quantity and grade of reported Inferred Resources in this M RE are uncertain in nature and there has been

insufficient exploration to define these Inferred Resources as Indicated or Measured. However, it is reasonably

expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with

continued exploration.

3. A cut-off grade of 0 .10% Ni was used to define potentially economic material for inclusion within the MRE. Cut -

offs were determined on the based on core assay geostatistics and drill core lithologies for the deposit, and by

comparison to analogous nickel deposit types.

4. Geological and block models for the MRE used data from a total of 37 surface drill holes, completed by Canada

Nickel in 2023 and 2024. The drill hole database was validated prior to resource estimation and QA/QC checks

were made using industry-standard control charts for blanks, core duplicates and commercial certified reference

material inserted into assay batches by Canada Nickel and by comparison of umpire assays performed at a

second laboratory.

5. Estimates have been rounded to two significant figures.

6. The MRE was prepared following the CIM Estimation of Mineral Resources & Mineral Reserves Best Practice

Guidelines (November 29, 2019) and the CIM Definition Standards for Mineral Resources & Mineral Reserves (May

19, 2014).

7. The geological model as applied to the MRE comprises three mineralized domains hosted by variably

serpentinized ultramafic rocks: a relatively higher -grade core (dunite), a lower grade (peridotite), and a PGE- rich

pyroxenite “reef”. Individual wireframes were created for each domain in Leapfrog Geo 2024.1 software.

8. A 20 m x 20 m x 15 m block model was created, and samples were composited at 7.5 m intervals. Grade estimation

from drill hole data was carried out for Ni, Co, Fe, Cr, S, Pd and Pt using the Ordinary Kriging interpolation method

in Isatis 2024.04 software.

9. The MRE has been constrained by a conceptual pit envelope that was developed using the following optimization

parameters. Metal prices used were US$21,000/t nickel, US$40,000/t cobalt, US$325/t iron, US$3,860/t

chromium, US$1,350/oz palladium, and US$1,150/oz platinum. Different pit slopes were used for each layer (in

degrees): 9.5 in overburden, and 40.0 in mineralized rock, and 45 in waste rock. Exchange rate utilized was US$/C$

at $0.76. Mining costs utilized different values for overburden (clay, gravel), and rock mining, ranging from C$1.47

to C$3.53/t mined. Processing costs and general and administration costs for a 120 ktpd operation (similar to the

ultimate scope of Crawford) were C$8.30/t. Based on the range of grade and ratio of sulphur to nickel, calculated

recovery averages 45% for Ni, 7% for Co, 56% for Fe, 29% for Cr 45% for Pd and 28% for Pd.

10. Grade estimation was validated by comparison of input and output statistics (Nearest Neighbour and Inverse

Distance Squared methods), swath plot analysis, cross -plots of declustered samples against the nearest OK

estimate, and by visual inspection of the assay data, block model, and grade shells in cross-sections.

11. Density estimation was carried out for the mineralized domains using the Ordinary Kriging interpolation method,

based on 1,740 specific gravity measurements collected during the core logging process, using the same block

model parameters of the grade estimation. As a reference, the average estimated density value within dunite is

2.64 g/cm3 (t/m3), while the peridotite domain yielded an average of 2.74 g/cm3 (t/m3), and the PGE “reef” domain

an average of 3.05 g/cm3 (t/m3).

Figure 1 . Plan View of Mann West Nickel Sulphide Resources , Mann West Nickel Sulphide Project,

Ontario.

Figure 2. Plan View of the Mann West Resource Categories and Nickel Grade.

Figure 3. Mann West Nickel Sulphide Project Long-Section (Looking North) of Resource Categories (TOP)

and Nickel Grade (BOTTOM).

Next Steps at Mann West:

• A technical report with respect to the M ineral Resource Estimate disclosed today will be filed within

45 days.

• Infill drilling at the property will aim to increase and upgrade inferred resources in the next drilling

campaign.

• Mineralogical and metallurgical analysis will continue to better understand and estimate metal

recoveries.

Assays, Quality Assurance/Quality Control and Drilling

Edwin Escarraga, MSc, P.Geo., a "Qualified Person" within the meaning of NI 43-101, is responsible for the

on-going drilling and sampling program, including quality assurance (QA) and quality control (QC). The core

is collected from the drill in sealed core trays and transported to the secure core logging facility (core

shack). The core is marked and sampled at 1.5 metre lengths and cut with a diamond blade saw. One set of

samples is transported in secured bags directly from the Canada Nickel core shack to Actlabs Timmins,

while a second set of samples is securely shipped to SGS Lakefield for preparation, with analysis performed

at SGS Burnaby. All are ISO/IEC 17025 accredited labs and independent of Canada Nickel. Analysis for

precious metals (gold, platinu m, and palladium) are completed by Fire Assay while analysis for nickel,

cobalt, sulphur and other elements are performed using a peroxide fusion and ICP-OES analysis. Certified

standards and blanks (QA/QC samples) are inserted at a rate of three QA/QC samples per 20 core samples

making a batch of 60 samples that are submitted for analysis.

Qualified Person and Data Verification

Stephen J. Balch (P.Geo. – Ontario), VP Exploration of Canada Nickel and a "Qualified Person" within the

meaning of NI 43-101, has verified the data disclosed in this news release, and has otherwise reviewed and

approved the technical information in this news release on behalf of Canada Nickel Company Inc.

The magnetic images shown in this news release were created from Canada Nickel's interpretation of

datasets provided by the Ontario Geological Survey.

About Canada Nickel Company

Canada Nickel Company Inc. is advancing the next generation of nickel-sulphide projects to deliver nickel

required to feed the high growth electric vehicle and stainless-steel markets. Canada Nickel Company has

applied in multiple jurisdictions to trademark the terms NetZero NickelTM, NetZero CobaltTM, NetZero IronTM

and is pursuing the development of processes to allow the production of net zero carbon nickel, cobalt, and

iron products. Canada Nickel provides investors with leverage to nickel in low political risk jurisdictions.

Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in

the heart of the prolific Timmins-Nickel District. For more information, please visit www.canadanickel.com.

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