Long Intervals Intersected At The Reid Property

TORONTO - Canada Nickel Company Inc. reported on the 2024 exploration program at its Reid property, located 37 kilometres northwest of Timmins, Ontario. All 34 holes drilled this year at Reid have intersected long intervals of targeted mineralized dunite and minor peridotite. Complete assay results for 18 holes have been received, 13 of which are announced today with assay results for the remaining holes pending.

Mark Selby, CEO, said, "Reid continues to deliver excellent results, including the best individual hole to date with long core lengths grading in excess of 0.4% and 0.5% nickel and all holes delivering large intervals of target mineralization.  With a target geophysical footprint larger than our flagship Crawford project and a width in the central core more than double Crawford, we look forward to the initial resource estimate for Reid expected to be released in the fourth quarter of 2024.

The ongoing success of our regional exploration program clearly demonstrates the potential scale of the Timmins Nickel District.  We now have seven drill rigs drilling five separate targets – Reaume, Reid, Mann Central, Mann Northwest-SE, and Mann Northwest-NE – which are in addition to the two properties where we have already published a resource.  Few companies have more than one project resource and we remain on-track and expect to deliver seven additional resources by this time next year."