Highlights

TORONTO, Jan. 23, 2025 /PRNewswire/ - Canada Nickel Company Inc. ("Canada Nickel" or the "Company") (TSXV: CNC) (OTCQX: CNIKF) is pleased to announce additional exploration drilling results from the Company's Deloro, Bannockburn, Midlothian and Nesbitt properties. The Company completed over 118,000 metres of drilling on 14 properties during its successful 2024 drilling campaign, all located within 100 kilometres of the Timmins mining camp.

CEO Mark Selby said, "Today's results from four separate regional properties continue to demonstrate the scale of the sulphide nickel potential of the Timmins Nickel District. Midlothian's drilling results are showing consistent grades with an average grade that is the highest to date of all the Company's regional properties. Bannockburn drilling continues to yield excellent results – including identification of other high-grade targets as well as the intersection of a higher-grade zone within the bulk tonnage zone. We continue to successfully infill and extend the resource at Deloro, and we have successfully resumed drilling at Nesbitt, which is located just seven kilometres from Crawford, and which will become an additional resource by mid-2025."

The Company now expects to publish a total of eight additional regional resources by mid-2025. Reid and Deloro have already been published and resources at Bannockburn, Mann Central, Mann West, Midlothian, Nesbitt, and Texmont are expected to further demonstrate the scale of nickel resources within the Timmins Nickel District.

Bannockburn Property Overview

The Bannockburn Property is located 65 kilometres south of Timmins and approximately 20 kilometres west of Matachewan, Ontario. The property has multiple targets including two high-grade nickel zones. The B-zone geophysical target is the largest target consisting of a bulk tonnage nickel zone with approximately 1.6 kilometres of strike length and up to 700 m wide. The Company completed infill drilling on the B-Zone with nine holes drilled in the fall of 2024. This release has results for seven of the nine drillholes. All holes were drilled through long intersections of strongly serpentinized and mineralized ultramafic rocks. With this drilling and the data collected in 2023, the company intends to produce a resource estimate by mid-2025.

A single hole (BAN24-10) was drilled into the smaller D-zone to the northwest, confirming continuation of the mineralized ultramafic body almost 1 kilometre northwest of the main B-zone. The D-zone will need further drilling to test its potential extension from and connection to the B-zone.

Drilling Highlights

Table 1 – Bannockburn drilling highlights.

Note: True width undetermined. All lengths are drillhole lengths.

Midlothian Property Overview

The Midlothian property is located 70 kilometres south-southeast of Timmins, 25 kilometres west of Matachewan and is directly accessible by road. Four drillholes were completed during the winter of 2023 and 12 additional drillholes were completed in the fall of 2024. All 12 holes intersected mineralized dunite at shallow depths. With the combined 2023 and 2024 drilling, the company intends to produce an initial resource estimate at Midlothian by mid-2025.

Deloro Project Overview

The Deloro Project is located just 8 kilometres south of Timmins and is accessible year-round by road, being less than 2 kilometres from existing powerlines. In July 2024, the Company successfully filed a Mineral Resource Estimate on Deloro consisting of 357 million tonnes of Inferred Resources grading 0.25% nickel, and 81 million tonnes of Indicated Resources grading 0.25% nickel.

Table 3 – Deloro drilling highlights.

The Company has engaged the services of ICP Securities Inc. ("ICP") to provide automated market making services.

For further information, please contact:

Mark Selby
CEO
Phone: 647-256-1954
Email: [hidden_email]

This press release contains certain information that may constitute "forward-looking information" under applicable Canadian securities legislation.