Canada Nickel Achieves Major Permitting Milestone with Completion of Filing of Impact Statement for Crawford Nickel Sulphide Project

Press Release

TORONTO, November 26, 2024 – Canada Nickel Company Inc. (“Canada Nickel” or “The Company”) (TSX V:CNC) (OTCQB: CNIKF) has achieved a significant milestone with the completion of the filing of the Impact Statement for the Crawford Nickel Sulphide Project with the Impact Assessment Agency of Canada on November 22, 2024. The Impact Statement was prepared by Stantec, a global leader in sustainable design and engineering. This important step forward keeps the Project on schedule to secure permits and make a construction decision in 2025.

“This submission is a reflection of the extraordinary work of our team and partners and our commitment to meaningful collaboration with Indigenous communities and stakeholders,” said Mark Selby, CEO of Canada Nickel. “We’ve gone from the fifth drillhole in September 2019 to become the first mining project in Canada to file an Impact Statement under the 2019 Impact Assessment Act. The ability to achieve this milestone in just over five years also reflects the federal government’s commitment to timely and efficient permitting processes and effective engagement with proponents. It’s a major step forward as we advance Crawford – projected to be one of the world’s largest and most sustainable nickel sulphide projects – towards production.”

Since 2021, Canada Nickel has conducted extensive baseline environmental and socio-economic studies to inform the Impact Statement, combining rigorous scientific analysis with valuable insights from Indigenous Knowledge and community input.

Highlights of Engagement Efforts:

• Funding Indigenous Nations to ensure authentic and meaningful participation, such as funding the Nations own Traditional Land Use and Socioeconomic studies to guide project planning.
• Hosting technical working group sessions, community open houses, and site visits with Indigenous leadership, local leaders, and regional stakeholders.
• Organizing Environmental and Socioeconomic Committees inclusive of local multi-disciplinary subject matter experts to inform project planning.

“Throughout the Impact Statement, it is clear how much the Company has prioritized minimizing impacts while maximizing the benefits this Project will bring to the entire region,” said Pierre-Philippe Dupont, Vice President of Sustainability. “Since day one, we’ve taken a true partnership-based approach that has defined this entire process. By engaging early and often with Indigenous

Nations, local communities, and stakeholders, we’ve ensured this Project reflects our shared priorities and values.”

The Crawford Nickel Sulphide Project is expected to generate significant benefits for Northern Ontario, including the creation of thousands of jobs, strengthening local businesses, and contributing to economic growth. According to the Company’s bankable Feasibility Study, over its 41 year lifecycle, the Project is projected to generate more than $63 billion in revenue, over 1,000 jobs, $7 billion in federal and provincial income taxes, and a further $2.6 billion in provincial mining taxes, from a total investment of $6.8 billion

With the Impact Statement now filed and following the Impact Assessment Agency’s confirmation review, the Project will move into the Indigenous and public consultation phase of the Impact Assessment process. Throughout this process, Canada Nickel remains committed to ongoing dialogue with Indigenous Nations, stakeholders, and government representatives to ensure the project progresses in alignment with its principles of sustainability, collaboration, and delivering benefits to local communities.

About Stantec

Stantec empowers clients, people, and communities to rise to the world’s greatest challenges at a time when the world faces more unprecedented concerns than ever before.

We are a global leader in sustainable architecture, engineering, and environmental consulting. Our professionals deliver the expertise, technology, and innovation communities need to manage aging infrastructure, demographic and population changes, the energy transition, and more.

Today’s communities transcend geographic borders. At Stantec, community means everyone with an interest in the work that we do—from our project teams and industry colleagues to our clients and the people our work impacts. The diverse perspectives of our partners and interested parties drive us to think beyond what’s previously been done on critical issues like climate change, digital transformation, and future-proofing our cities and infrastructure.

We are designers, engineers, scientists, project managers, and strategic advisors. We innovate at the intersection of community, creativity, and client relationships to advance communities everywhere, so that together we can redefine what’s possible. Stantec trades on the TSX and the NYSE under the symbol STN.

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-Cochrane mining camp. For more information, please visit www.canadanickel.com.

For further information, please contact

Mark Selby, CEO

Phone: 647-256-1954

Email: info@canadanickel.com

Sydney Oakes, Director of Indigenous Relations and Public Affairs

Phone: 905-929-7151

Email: sydneyoakes@canadanickel.com

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