Canada Nickel Secures $3.4 Million Federal Contribution to Advance Groundbreaking Carbon Storage Technology

Canada Nickel Company Inc. ("Canada Nickel" or the "Company") (TSXV: CNC) (OTCQX: CNIKF) is pleased to announce that it has been selected for funding of $3.4 million from the Government of Canada to support the development of Canada Nickel's proprietary In-Process Tailings (IPT) Carbonation process at the pilot plant level.

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The IPT Carbonation process transforms nickel mining tailings into a permanent carbon storage solution, and Canada Nickel has filed a patent application for this process. The Company's flagship Crawford Nickel Sulphide Project has been designed to be one of Canada's largest carbon storage facilities and an industry leader in sustainable mining and carbon management.

Canada Nickel's IPT carbonation technology uses ultramafic tailings as a geologically stable permanent CO2 storage solution. Once operational, the Crawford Nickel Sulphide Project has the potential to sequester up to 1.5 million tonnes of CO2 annually during its peak production period and is expected to store 54 million tonnes over the 41-year life of the Project, positioning it as one of Canada's largest, and Ontario's largest, carbon storage facilities.

Mark Selby, CEO of Canada Nickel Company, expressed his gratitude for the Government of Canada's funding, stating, "This contribution is a testament to the power of innovation and collaboration. With the Government of Canada's support, we are turning mining tailings into a solution for climate change, creating a legacy of environmental stewardship and sustainable resource development. The IPT Carbonation combined with the potential for multiple Crawford-type deposits in the Timmins Nickel District provides the foundation for a globally unique zero-carbon industrial cluster in Northeast Ontario."

The funding will be provided through Natural Resources Canada's Energy Innovation Program – Carbon Capture, Utilization, and Storage (CCUS) Research, Development, and Demonstration (RD&D) call for proposal. The project aligns closely to the objectives of the call, which is to characterize and develop safe, permanent CO2 storage, as well as supports the Government of Canada's broader goals of reducing greenhouse gas emissions and fostering innovative clean energy technologies.

"The Government's contribution to Canada Nickel will help to advance carbon management technologies in Canada, in line with our Carbon Management Strategy which envisions a multibillion-dollar carbon management industry to help realize the country's economic and environmental goals," said Marc G. Serre, MP Nickel Belt and Parliamentary Secretary to the Minister of Energy and Natural Resources.

Canada Nickel looks forward to continuing its work with Indigenous Nations, governments, and stakeholders to advance sustainable critical mineral resource development while addressing the pressing challenge of climate change.

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 Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp. For more information, please visit www.canadanickel.com.