Canada Nickel Announces Filing of NI 43-101 Technical Reports for Previously Announced Initial Resources, Midlothian and Bannockburn Projects

Press Release

TORONTO, February 3, 2026 – Canada Nickel Company Inc. (“Canada Nickel” or the “Company”) (TSX V:CNC) (OTCQB:CNIKF) today announced that the Company has filed on SEDAR+ the independent technical reports (the “Reports”) prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) supporting the initial mineral resource estimate for its 100% owned Midlothian Nickel Sulphide Project (“Midlothian”) and Bannockburn Nickel Sulphide Project (“Bannockburn”) near Timmins, Ontario. There are no material differences in the Report from those results disclosed in the Company’s news release dated December 18, 2025. The Mineral Resource Estimate, effective as of December 15, 2025, was prepared following the CIM Definition Standards for Mineral Resources and Reserves (November 29, 2019).

The two full technical reports, issued February 2, 2026 and with Mineral Resource Estimates having an effective date of December 15, 2025, are titled “National Instrument 43-101 Initial Mineral Resource Estimate and Technical Report for the Midlothian Ni-Co-Pd-Pt Deposit, Midlothian Nickel Sulphide Project”, and “National Instrument 43-101 Initial Mineral Resource Estimate and Technical Report for the Bannockburn Ni-Co-Pd-Pt Deposit, Bannockburn Nickel Sulphide Project” The Reports were prepared for Canada Nickel by Caracle Creek International Consulting Inc. and can be found under the Company’s issuer profile at SEDAR+ www.sedarplus.com.

Issuance of Shares

Additionally, Canada Nickel has entered into an amendment to its option agreement in respect of the Midlothian property, under which Canada Nickel has agreed to issue a total of 27,400 common shares to the optionors in consideration for deferring the time of payment of $200,000 from November 2025 to January 2026 for the final cash option payment, which has now been made.

Qualified Person

Stephen J. Balch P.Geo. (ON), VP Exploration of Canada Nickel and a “qualified person” as defined in NI 43-101, has reviewed and approved the scientific and technical information in this news release.

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

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