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Flying Nickel Completes Drilling Program at Minago Nickel Project in Thompson Manitoba

Press Release

Vancouver, British Columbia, June 21, 2022 – Flying Nickel Mining Corp. (“Flying Nickel” or the “Company”) (TSXV:FLYN, OTCQB:FLYNF) announces the completion of its first drilling program at its 100% owned Minago nickel sulphide project in Thompson, Manitoba. The program included 2,834 meters of drilling, consisting of six infill and exploration drillholes. The initial drill results are expected in early July.

A 5,000-meter program was announced on March 7, 2022 but was shortened due to late issuance of work permits. Infill drill holes FN-22-01 and FN-22-02 intercepted wide disseminated nickel mineralization at Minago’s Nose deposit. The remaining holes targeted the North Limb deposit, which has the highest near-term resource expansion potential and limited historic drilling.

Flying Nickel acquired Minago from Victory Nickel Inc in February 2021. Subsequently, Flying Nickel announced an open-pit optimized Minago mineral resource estimate (“MRE”), prepared by Mercator Geotechnical Services and AGP Mining Consultants, effective July 2, 2021, which includes a Measured and Indicated mineral resource of 722 million lbs of contained nickel and an Inferred mineral resource of 319 million lbs of contained nickel grading 0.74% nickel based on 86,118 meters of drilling. The project has ready access to hydro power, water and is adjacent to a paved provincial highway. Flying Nickel is completing a Notice of Alteration which is required for the reissuance of the Environmental Act License by the province of Manitoba. No federal permit is required.

Observations and drillhole summaries are provided below:

FN-22-01 is a 567-meter infill drill hole located at the eastern part of Minago’s main Nose deposit. The hole ended in mineralization at 567 meters, short of the 830 meters planned depth due to ground conditions. Approximately 483 meters of ultramafic rocks were observed containing varying percentages of disseminated mineralization.

FN-22-02 is a 407-meter infill drill hole located at the western part of the Nose deposit. The FN-22-02 encountered 266 meters of ultramafic rocks containing varying percentages of disseminated mineralization.

Core from FN-22-01 and FN-22-02 will undergo metallurgical tests to support the Company’s ongoing feasibility study to be completed by end of 2022.

FN-22-03 is a 530-meter hole drilled near the center of Minago’s North Limb deposit to test the deep portion of North Limb beyond the previously drilled maximum depth of approximately 250 meters from surface on section. The hole intercepted 393 meters of ultramafic rocks of varying percentages of disseminated mineralization.

FN-22-04 is a 551-meter exploration hole collared 200 meters north of the North Limb to test a magnetic and vertical electromagnetic anomaly. The hole intercepted 135 meters of intercalated ultramafic and felsic rocks containing varying percentages of disseminated mineralization.

FN-22-05 is a 338-meter hole drilled at the southern end of the North Limb to test the shallow portion of the North Limb that had not been drilled before. FN-22-05 encountered 85 meters of ultramafic rocks of varying percentages of disseminated mineralization, indicating sections of North Limb mineralization occur shallower than previously estimated.

FN-22-06 is a 325-meter exploration hole drilled in between the Nose and the North Limb to test a electromagnetic and magnetic anomaly. The hole ended in magnetite bearing granitoids with no observable ultramafic rocks. A clay layer observed between the Phanerozoic cover rocks and the Archean basement rocks is believed to explain the electromagnetic anomaly.

Plan and cross section drill maps are available at flynickel.com

Qualified Person

The technical contents of this news release have been prepared under the supervision of Danniel Oosterman, CEO. Mr. Oosterman is not independent of the Company in that he is employed by it. Mr. Oosterman is a Qualified Person as defined by the guidelines in NI 43-101.

About Flying Nickel

Flying Nickel Mining Corp. is a premier nickel mining and exploration company. The company is advancing its 100% owned Minago nickel sulphide project in the Thompson nickel belt in Manitoba, Canada.

Further information on the Company can be found at www.flynickel.com.

FLYING NICKEL MINING CORP.

ON BEHALF OF THE BOARD

“Danniel Oosterman”
Chief Executive Officer

For more information about the Company, please contact:

Phone: 1.877.664.2535 / 1.877.6NICKEL

Email: [email protected]

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