Highlights

• NPV_8% Stepped forward by means of greater than $300 million to $2.8 billion
• IRR Stepped forward by means of 0.5% to 17.6% as opposed to feasibility learn about
• Build up in preliminary capital price held to five% to $2.0 billion

(All quantities in US greenbacks, until differently indicated)

TORONTO, March 3, 2025 /PRNewswire/ – Canada Nickel Corporate Inc. (“Canada Nickel” or the “Company“) (TSXV: CNC) (OTCQX: CNIKF) is happy to serve result of Entrance Finish Engineering and Design (“FEED”) actions for its Crawford Mission, which have been finished by means of the Corporate’s specialists. Engineering actions targeted at the preliminary capital price using information amassed from a wintry weather geotechnical programme, a take a look at piling program and up to date quotes. The mine plan used to be additionally re-sequenced to boost up supply of upper worth ore from the East Zone and leave pre-stripping by means of 30%.

Mark Selby, CEO of Canada Nickel, stated, “We are very pleased to complete another major milestone as we advance Crawford towards a construction decision. Many mining development projects have seen significant cost inflation over the last several years – I am very proud of our team and the robustness of our project that the initial capital cost increased by only 5%, particularly since the feasibility study had a cost basis dating from December 2022. The resequencing of the mining plan and updated operating costs have also yielded improved economics for the project.”

Mr. Selby endured, “With this milestone complete, we look forward to working with our project financing partners Scotiabank, Deutsche Bank, and Cutfield Freeman to complete the funding package for Crawford by year-end to be positioned to make a construction decision once permits are received. We are planning to utilize capital from this funding package for order placement of long-lead items and engineering activities. The Company is also pursuing a number of non-equity financing initiatives – including government funding – to provide the funding to complete the remaining permitting and engineering activities this year.”

Entrance Finish Engineering Design Effects
Desk 1 compares key metrics for the FEED design with the Corporate’s feasibility learn about in admire of the Crawford Mission that used to be revealed in November 2023 (the “Feasibility Study”). To preserve comparison, all key financial suppositions are unchanged for the reason that Feasibility Learn about, such because the noteceable exclusion of the Carbon Seize, Usage and Warehouse Funding Tax Credit (“CCUS credits”) for which the Corporate believes it will qualify. Inclusion of CCUS credit would build up NPV_8% to $2.9 billion and IRR to 18.9%.

Desk 1 – FEED Replace – General Mission Metrics

The principle center of attention of FEED used to be to replace the preliminary capital price estimate. The related engineering has improved to roughly 30% and is enough for preparation of long-lead orders. Since final touch of the Feasibility Learn about, there was important inflationary drive. Then again, the rise in total capital price has been held to five% thru optimization of the mining time table and simplification to designs. Desk 2 summarizes the alternate to key capital parts for the reason that Feasibility Learn about.

The alternative key alternate used to be a re-sequencing of the mine plan. Ore from the East Zone will now be mined and processed first, being introduced ahead on moderate 12 years. Ore from the Major Zone has correspondingly been deferred. With the diminished intensity of overburden overlying the East Zone, this resequencing lets in the pre-strip tonnage to be diminished by means of 30%. With East Zone ore now comprising the majority of subject material processed all the way through the payback length, extra metallurgy checking out used to be carried out. The ensuing replace to cures for East Zone ore have resulted in an build up within the moderate worth of East Zone ore of seven.4%, to US$31.18/t. Fix forecasts for Major Zone ore stay unchanged.

Desk 2 – FEED Capital Price – Abstract of Key Adjustments (US$ tens of millions)

The capital price estimate accommodates prices of US$ 23 million together with the price of the prior to now introduced approach to achieve floor rights (the “Option“) introduced on January 7, 2025 (the “January 7 Press Release“) and estimates to procure the extra floor rights required for the undertaking. Moreover, the Corporate can lengthen the Possibility once a year as much as an additional 5 years for an extra fee of two.5% of the choice fee quantity in money for each and every such annual extension.

Additional to the January 7 Press Loose, the Corporate has entered into an task contract (the “Assignment“) with Noble Mineral Exploration Inc. (“Noble“) for the best to buy 5,000 acres of actual feature positioned in Northern Ontario (the “Assignment Lands“) and shall pay Noble $150,000 as attention for the Task Lands. The Task is topic to the favor of the TSX Challenge Alternate (the “TSXV“).

About Canada Nickel

Canada Nickel Corporate Inc. is advancing the upcoming hour of nickel-sulphide tasks to bring nickel required to feed the top enlargement electrical automobile and chrome steel markets. Canada Nickel Corporate has carried out in a couple of jurisdictions to trademark the phrases NetZero Nickel^TM, NetZero Cobalt^TM, NetZero Iron^TM and is pursuing the improvement of processes to permit the manufacturing of internet 0 carbon nickel, cobalt, and iron merchandise. Canada Nickel supplies traders with leverage to nickel in low political chance jurisdictions. Canada Nickel is recently anchored by means of its 100% owned flagship Crawford Nickel-Cobalt Sulphide Mission within the middle of the prolific Timmins–Cochrane mining camp. For more info, please consult with www.canadanickel.com.

Certified Individual

Stephen J. Balch P.Geo. (ON), VP Exploration of Canada Nickel and a “qualified person” as such time period is outlined by means of Nationwide Device 43-101, has verified the information disclosed on this information drop, and has differently reviewed and licensed the technical knowledge on this information drop to the behalf of Canada Nickel.

For additional knowledge, please touch:

Mark Selby, CEO
Telephone: 647-256-1954
Electronic mail: [email protected]

Cautionary Remark Relating to Ahead-Having a look Statements

This press drop comprises sure knowledge that can represent “forward-looking information” beneath acceptable Canadian securities regulation. In most cases, forward-looking knowledge will also be known by means of the significance of ahead browsing terminology corresponding to “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “does not anticipate”, or “believes” or diversifications of such phrases and words or environment that sure movements, occasions or effects “may”, “could”, “would”, “might”, or “will be taken”, “occur”, or “be achieved”. Ahead-looking knowledge on this information drop contains, however isn’t restricted to: the up to date economics in admire of the Crawford Mission; the timing and skill of the Corporate to finish financing tasks; the timing and skill of allowing and engineering actions in admire of the Crawford Mission; the Corporate’s qualification for the CCUS credit and the impact thereof of undertaking economics; and statements referring to exploration effects, exploration plans and alternative company and technical targets. Ahead-looking knowledge is essentially based totally upon various suppositions that, era regarded as cheap, are topic to recognized and unknown dangers, uncertainties, and alternative elements which would possibly reason the untouched effects and life occasions to fluctuate materially from the ones expressed or implied by means of such forward-looking knowledge. Elements that might impact the end result come with, amongst others: life costs and the provision of metals, the life call for for metals, change charge fluctuations, the result of drilling, incapacity to lift the cash important to incur the expenditures required to hold and progress the Corporate’s homes, environmental liabilities (recognized and unknown), normal trade, financial, aggressive, political and social uncertainties, result of exploration techniques, dangers of the mining business, delays in acquiring governmental approvals, and failure to acquire regulatory or shareholder approvals. There will also be refuse contract that such knowledge will turn out to be correct, as untouched effects and life occasions may just fluctuate materially from the ones expected in such knowledge. Accordingly, readers must now not park undue reliance on forward-looking knowledge. All forward-looking knowledge contained on this press drop is given as of the generation hereof and is based totally upon the evaluations and estimates of control and knowledge to be had to control as on the generation hereof. Canada Nickel disclaims any goal or legal responsibility to replace or revise any forward-looking knowledge, whether or not on account of unutilized knowledge, life occasions or differently, aside from as required by means of regulation. 

Neither TSX Challenge Alternate nor its Legislation Products and services Supplier (as that time period is outlined in insurance policies of the TSX Challenge Alternate) accepts duty for the adequacy or accuracy of this drop.

SOURCE Canada Nickel Corporate Inc.