CANICKEL MINING LTD NEW - CMLGF STOCK NEWS

CaNickel Mining announces that Cobalt One Energy and Blackstone Minerals have extended their option agreement for the purchase of the Bucko Lake Mine Project to January 3, 2025. The extension comes with a C$100,000 fee, with further 30-day extensions possible. The project, located 110 km southwest of Thompson, Manitoba, is considered one of North America's highest-grade nickel sulfide projects.

If exercised, Cobalt One and Blackstone would assume all liabilities and obligations related to the Project, working towards achieving permitted status and commercial production. The transaction requires shareholder approval from both companies and regulatory clearances from TSX Venture Exchange and Australian Securities Exchange.

CaNickel Mining (TSXV: CML) has announced a change in its auditor. Smythe LLP, the former auditor, resigned on September 5, 2024, and the company's board of directors appointed Baker Tilly WM LLP as the new auditor, effective the same day. The change will remain in effect until CaNickel's next Annual General Meeting.

The company confirmed that there were no reservations in the former auditor's reports for the financial year ended December 31, 2023, and subsequent periods. In compliance with National Instrument 51-102, CaNickel filed a Change of Auditor Notice on September 9, 2024, along with confirmatory letters from both auditors on SEDAR+. Importantly, no reportable events occurred between the former auditor and the company during the transition.

CaNickel Mining Limited (TSXV: CML) has signed an Option Agreement with Cobalt One Energy Corporation and Blackstone Minerals Limited for the sale of its 100% owned Bucko Lake Mine Project for up to C$80 million. The agreement grants Cobalt One the exclusive right and option to purchase the Project over a 12-month period. The purchase price will be paid in four tranches, including cash and Blackstone shares. The sale is subject to shareholder and exchange approvals.

CaNickel Mining Limited (TSXV: CML) announces the promotion of Shirley Anthony to Chief Executive Officer, replacing Kevin Zhu. Ms. Anthony brings over 15 years of corporate development and investor relations experience to her new role, having previously worked with several publicly traded resource companies. The company expresses gratitude to Mr. Zhu for his tenure as CEO and his continued support as a director.