Canada Nickel Announces Receipt of Support Letter for up to $500 million from Leading Financial Institution

Press Release

TORONTO, September 12, 2024 – Canada Nickel Company Inc. (“Canada Nickel” or the “Company”) (TSXV: CNC) (OTCQX: CNIKF) today announced receipt on September 11, 2024 of a support letter from a leading financial institution stating its interest in providing long term debt financing of up to C$500 million (approximately US$370 million) of project debt, for development of the Crawford Nickel sulphide project in Timmins, Ontario. Terms and conditions (including pricing) will be subject to further due diligence and discussions with lenders, lenders advisors and Canada Nickel and its financial advisors. This support letter is incremental to that received last week from Export Development Canada. Combined these letters of interest amount to approximately US$870m of senior debt – a substantial portion of the Company’s intended senior debt target.

Mark Selby, CEO of Canada Nickel, said, “We are very pleased with this additional indication of interest as it is another substantial step towards advancing our financing package for Crawford. With last week’s previously announced US$500 million letter of interest from Export Development Canada, along with the refundable critical minerals and carbon capture and storage tax credits in excess of US$600 million that the Company expects to qualify for the initial phase of Crawford’s development, the Company is well-positioned with our financial advisors Deutsche Bank, Scotiabank and Cutfield Freeman to secure the remaining project funding required to begin construction when permits are received, which we expect to be by mid 2025.”

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.

For further information, please contact:

Mark Selby

CEO

Phone: 647-256-1954

Email: info@canadanickel.com

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