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Canada Nickel Provides Update on Regional Exploration Program

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Canada Nickel Company provided updates on its regional exploration program across multiple properties. At Reid, drilling continues to show long mineralized intervals, with an initial resource expected by end of 2024. Mann West yielded strong results including 330 metres of 0.26% nickel, with an initial resource estimate expected by Q1 2025. Mann North drilling revealed multiple gold intervals, including 4.5 metres of 2.36 g/t gold within 45 metres of 0.45 g/t gold. The company has successfully completed over 100,000 metres of drilling on 14 properties in 2024, all located within 100 kilometres of Timmins, Ontario.

Canada Nickel Company ha fornito aggiornamenti sul suo programma di esplorazione regionale in diverse proprietà. A Reid, le perforazioni continuano a mostrare lunghe intervalli mineralizzati, con una risorsa iniziale prevista entro la fine del 2024. Mann West ha prodotto risultati forti, incluso 330 metri con il 0,26% di nichel, con una stima della risorsa iniziale prevista per il primo trimestre del 2025. Le perforazioni a Mann North hanno rivelato molteplici intervalli d'oro, tra cui 4,5 metri con 2,36 g/t d'oro all'interno di 45 metri con 0,45 g/t d'oro. L'azienda ha completato con successo oltre 100.000 metri di perforazione su 14 proprietà nel 2024, tutte situate entro 100 chilometri da Timmins, Ontario.

Canada Nickel Company proporcionó actualizaciones sobre su programa de exploración regional en múltiples propiedades. En Reid, la perforación continúa mostrando largos intervalos mineralizados, con un recurso inicial esperado para finales de 2024. Mann West arrojó resultados sólidos, incluyendo 330 metros con un 0.26% de níquel, con una estimación de recurso inicial esperada para el primer trimestre de 2025. La perforación en Mann North reveló múltiples intervalos de oro, incluyendo 4.5 metros de 2.36 g/t de oro dentro de 45 metros de 0.45 g/t de oro. La compañía ha completado con éxito más de 100,000 metros de perforación en 14 propiedades en 2024, todas ubicadas a menos de 100 kilómetros de Timmins, Ontario.

캐나다 니켈 컴퍼니는 여러 자산에서의 지역 탐사 프로그램에 대한 업데이트를 제공했습니다. Reid에서의 시추는 긴 광물화 구간을 계속 보여주고 있으며, 초기 자원은 2024년 말까지 예상됩니다. Mann West는 0.26%의 니켈을 포함한 330미터의 강력한 결과를 보였으며, 초기 자원 추정치는 2025년 1분기까지 예상됩니다. Mann North의 시추에서는 0.45 g/t 금이 포함된 45미터 이내에 2.36 g/t 금의 4.5미터 구간을 포함한 여러 금 구간이 드러났습니다. 회사는 2024년 Timmins, 온타리오에서 100킬로미터 이내의 14개 자산에서 100,000미터 이상의 시추를 성공적으로 완료했습니다.

Canada Nickel Company a fourni des mises à jour sur son programme d'exploration régionale sur plusieurs propriétés. À Reid, le forage continue de montrer de longs intervalles minéralisés, avec une ressource initiale attendue d'ici la fin de 2024. Mann West a donné des résultats solides, y compris 330 mètres à 0,26 % de nickel, avec une estimation des ressources initiale prévue pour le premier trimestre de 2025. Le forage à Mann North a révélé plusieurs intervalles d'or, y compris 4,5 mètres à 2,36 g/t d'or dans 45 mètres à 0,45 g/t d'or. L'entreprise a réussi à compléter plus de 100 000 mètres de forage sur 14 propriétés en 2024, toutes situées à moins de 100 kilomètres de Timmins, Ontario.

Die Canada Nickel Company hat Aktualisierungen zu ihrem regionalen Erkundungsprogramm in mehreren Liegenschaften bereitgestellt. In Reid zeigt das Bohren weiterhin lange mineralisierte Intervalle, wobei eine erste Ressource bis Ende 2024 erwartet wird. Mann West lieferte starke Ergebnisse, einschließlich 330 Meter mit 0,26% Nickel, wobei eine erste Ressourcenschätzung bis zum ersten Quartal 2025 erwartet wird. Die Bohrungen in Mann North zeigten multiple Goldintervalle, einschließlich 4,5 Meter mit 2,36 g/t Gold innerhalb von 45 Metern mit 0,45 g/t Gold. Das Unternehmen hat 2024 erfolgreich über 100.000 Meter Bohrungen an 14 Liegenschaften abgeschlossen, die alle innerhalb von 100 Kilometern von Timmins, Ontario, liegen.

Positive
  • Over 100,000 meters of successful drilling completed on 14 properties in 2024
  • Initial resource estimate for Reid expected by end of 2024
  • Initial resource estimate for Mann West expected by Q1 2025
  • Strong drilling results at Mann West showing 330 metres of 0.26% nickel
  • Multiple high-grade gold discoveries at Mann North
Negative
  • None.

Highlights

  • Successful infill drilling at Reid continues including a total of 643 metres of 0.26% nickel in REI24-43; initial resource expected before end of 2024
  • First assays from 2024 drilling at Mann West yield excellent results including 330 metres of 0.26% nickel in MAN24-58 including a total of 24.5 metres of 0.35% nickel; initial resource estimate expected by Q1 2025
  • Multiple gold intervals in Mann North drilling including 4.5 metres of 2.36 g/t gold within 45 metres of 0.45 g/t gold at MAN24-67
  • Over 100,000 metres successfully drilled on regional properties to date in 2024

TORONTO, Oct. 31, 2024 /PRNewswire/ - Canada Nickel Company Inc. ("Canada Nickel" or the "Company") (TSXV: CNC) (OTCQX: CNIKF) is pleased to announce results from its ongoing exploration programs at Reid, Mann and Reaume as several regional properties are being advanced to an initial resource stage. The Company's 2024 regional exploration program remains on-track with over 100,000 metres of drilling completed on 14 properties, all located within 100 kilometres of Timmins, Ontario.

CEO Mark Selby said, "We continue to demonstrate the potential of the Timmins Nickel District with today's drilling results from five separate properties. The results today highlight the shallow, well-mineralized large-scale potential of Mann West. Infill drilling at Reid continues to deliver long well-mineralized intervals and we are on-track for an initial resource at Reid before year end. Mann Central has yielded multiple intervals of well-mineralized peridotite across a 1.9 kilometre strike length."

Mr. Selby continued, "We typically encounter platinum and palladium precious metals in the Timmins Nickel district, but at our Mann North property, we intersected multiple gold intervals such as 45 metres of 0.45 g/t including 4.5 metres of 2.36 g/t gold." 

Reid

The Reid property is located just 16 kilometres southwest of Crawford and contains a geophysical target of 3.9 square kilometres which is nearly 2.4 times larger than Crawford.

Canada Nickel has completed 26,061 metres from 41 holes drilled during its 2024 drill program at Reid. The drill campaigns of 2023 and 2024 have delineated a mineralized ultramafic body with a strike length of 2.2 kilometres and width up to 1.0 kilometres and up to a depth of 650 metres within the central core of the target geophysical footprint, with a total of 32,893 metres in 57 drillholes. The anomaly remains open to the north, south and at depth (see Figure 1).

Assays are presented on this release for seven holes, with the results for seven more holes pending. All holes drilled intersected long mineralized intervals comprised of mainly dunite and minor peridotite. REI24-46 was drilled near the east end of the anomaly and intersected targeted higher grade nickel mineralization, confirming the continuity on strike of at least one higher grade horizon that is oriented NW-SE.

The Company remains on track to produce an initial resource at Reid, expected before year end 2024.

Table 1 – Drilling highlights Reid program

Hole ID

From (m)

To (m)

Length (m)*

Ni %

Co %

Pd g/t

Pt g/t

Cr %

Fe %

S %

REI24-41

40.5

116.0

75.5

0.24

0.011

0.003

0.005

0.826

5.484

0.067

and

216.0

706.0

490.0

0.19

0.014

0.012

0.012

0.588

7.506

0.047

REI24-43

27.0

469.2

442.2

0.26

0.012

0.003

0.005

0.817

5.518

0.044

and

494.7

696.0

201.3

0.25

0.012

0.009

0.006

0.936

5.797

0.055

REI24-45

44.6

191.6

147.0

0.19

0.013

0.003

0.003

0.468

6.828

0.018

and

216.0

382.1

166.1

0.22

0.012

0.006

0.004

0.462

5.675

0.032

and

394.0

585.4

191.4

0.25

0.012

0.019

0.011

0.618

5.635

0.047

REI24-46

38.0

702.0

664.0

0.23

0.013

0.022

0.013

0.616

6.967

0.098

including

256.5

264.0

7.5

0.30

0.015

0.073

0.050

0.404

7.586

0.156

including

414.0

447.0

33.0

0.30

0.012

0.013

0.005

0.679

7.730

0.128

Including

586.5

595.5

9.0

0.35

0.018

0.004

0.003

0.755

6.067

0.112

REI24-47

48.3

303.0

254.7

0.26

0.012

0.003

0.003

0.798

5.581

0.027

and

335.5

450.8

115.3

0.24

0.011

0.003

0.003

0.781

5.880

0.034

and

477.0

699.4

222.4

0.19

0.013

0.011

0.015

0.568

7.565

0.033

REI24-48

56.8

126.4

69.6

0.22

0.011

0.023

0.008

0.598

6.982

0.042

and

210.0

702.0

492.0

0.21

0.013

0.003

0.003

0.632

6.431

0.031

REI24-50

51.0

144.0

93.0

0.25

0.012

0.003

0.003

0.877

5.558

0.048

and

161.0

314.0

153.0

0.24

0.012

0.005

0.003

0.921

5.425

0.035

and

327.3

532.2

204.9

0.27

0.011

0.004

0.003

0.928

5.492

0.058

including

354.0

381.0

27.0

0.30

0.011

0.005

0.005

0.917

5.037

0.072

REI24-52

36.3

750.0

713.7

0.24

0.013

0.007

0.006

0.64

6.03

0.053

including

309.0

321.0

12.0

0.48

0.019

0.058

0.032

0.60

6.68

0.121

and

415.5

489.0

73.5

0.34

0.013

0.022

0.012

0.57

6.01

0.103

*True width undetermined. All lengths are drillhole lengths.

Figure-1-Reid---CNC-drillholes-over-total-magenetic-intensity (CNW Group/Canada Nickel Company Inc.)

Mann Property

The Mann property is located 22 kilometres east of Crawford between Timmins and Cochrane. The Company has completed a drill program in three of the four identified areas within the property, Mann North, Mann West (together formerly Mann Northwest), and Central. (Figure 2). Exploration at Mann South is currently underway.  Canada Nickel currently owns 80% of the Mann Property after successfully completing an earlier earn-in agreement with Noble Mineral Exploration. This property is part of the creation of an 'ExploreCo' subsidiary with Noble Mineral Exploration (see press release July 8, 2024) with Noble owning the other 20%.

Figure-2-Mann-Property (CNW Group/Canada Nickel Company Inc.)

Mann West  

Mann West is approximately 3.5 kilometres long by up to 1.1 kilometres wide (covering 3.4 square kilometres). The drill program has focused on the southern half of the target with drilling completed over a strike length of 1.7 kilometres and a width of at least 600 metres. All drillholes intersected long sections of well-serpentinized peridotite and minor dunite with disseminated and visible nickel sulphide mineralization consisting primarily of pentlandite and heazlewoodite. The Company has drilled 40 holes to date at Mann West (Figure 3), 31 of which were drilled during the 2024 program. With this drilling, the Company has completed the first phase of exploration that is required for an initial resource estimate expected by Q1 2025. Assays from nine holes are presented in this release, with the remaining holes at Mann West still pending.

Table 2 – Mann West drilling highlights.

Hole ID

From (m)

To (m)

Length (m)*

Ni %

Co %

Pd g/t

Pt g/t

Cr %

Fe %

S %

MANN WEST

MAN24-33

11.2

396.0

384.8

0.24

0.011

0.009

0.008

0.35

6.48

0.028

including

174.0

183.0

9.0

0.30

0.014

0.018

0.011

0.18

6.34

0.100

MAN24-37

8.7

180.0

171.3

0.26

0.011

0.005

0.006

0.15

6.04

0.037

and

236.4

402.0

165.6

0.26

0.012

0.008

0.007

0.24

6.26

0.071

including

267.0

273.0

6.0

0.37

0.013

0.004

0.005

0.30

7.73

0.100

and

361.5

369.0

7.5

0.38

0.013

0.078

0.043

0.18

6.35

0.162

MAN24-45

6.2

402.0

395.8

0.24

0.013

0.016

0.010

0.39

6.60

0.235

including

136.5

144.0

7.5

0.30

0.014

0.044

0.015

0.75

6.99

0.086

MAN24-49

5.4

198.2

192.8

0.19

0.013

0.029

0.017

0.41

7.44

0.081

and

221.6

402.0

180.4

0.21

0.011

0.003

0.006

0.42

6.69

0.033

MAN24-54

49.5

192.8

143.3

0.26

0.011

0.003

0.003

0.13

5.80

0.045

and

216.5

402.0

185.5

0.27

0.012

0.012

0.007

0.28

6.22

0.029

including

268.5

277.5

9.0

0.48

0.019

0.003

0.003

0.62

7.86

0.015

MAN24-58

21.0

351.0

330.0

0.26

0.013

0.015

0.007

0.24

6.51

0.076

including

193.5

204.5

11.0

0.35

0.015

0.023

0.009

0.44

6.86

0.110

and

307.5

321.0

13.5

0.36

0.016

0.040

0.018

0.19

7.17

0.130

MAN24-62

8.6

501.0

492.4

0.18

0.014

0.041

0.026

0.31

7.88

0.047

MAN24-69

7.2

229.5

222.3

0.19

0.013

0.022

0.015

0.38

7.35

0.054

and

264.0

491.0

227.0

0.19

0.013

0.004

0.005

0.41

7.35

0.023

MAN24-71

23.5

260.5

237.0

0.27

0.012

0.011

0.009

0.25

6.29

0.082

including

63.0

108.0

45.0

0.37

0.013

0.036

0.018

0.15

5.77

0.196

and

302.2

501.0

198.8

0.17

0.012

0.014

0.032

0.36

7.56

0.027

*True width undetermined. All lengths are drillhole lengths.

Figure-3-Mann-West (CNW Group/Canada Nickel Company Inc.)

Mann Central

The outline of the ultramafic body at Mann Central is estimated by magnetics to be 4.5 kilometres long and between 0.5 to 1.0 kilometres wide (or 3.1 square kilometres). Drilling at this target was completed during the spring/summer of 2024 and now totals 32 drillholes and 11,853 metres. Mineralization is more consistent near the center of the target over an area of 1.9 kilometres by 600 metres (1.1 square kilometres). This release provides an update for 13 drillholes (Table 3), all of which intersected varying degrees of mineralized peridotite with minor pyroxenite dykes.

Mafic volcanics with abundant sulphide mineralization in the north contact were intersected in eight holes including MAN24-32 which yielded 3.3 metres of 1.03% nickel, 0.31% cobalt, and 0.57 % copper. Assays are still pending for 10 drillholes and the results from nine drillholes were previously released (see press release September 10, 2024).

Table 3 – Mann Central drilling highlights.

Hole ID

From (m)

To (m)

Length (m)*

Ni %

Co %

Pd g/t

Pt g/t

Cr %

Fe %

S %

MAN24-19

3.0

304.0

301.0

0.18

0.012

0.008

0.006

0.42

7.36

0.037

and

384.0

396.8

12.8

0.18

0.010

0.003

0.008

0.33

6.29

0.083

MAN24-22

9.0

552.0

543.0

0.24

0.012

0.005

0.006

0.17

5.90

0.057

Including

195.0

207.0

12.0

0.29

0.013

0.022

0.008

0.14

5.66

0.082

MAN24-26

12.0

55.5

43.0

0.25

0.011

0.003

0.008

0.18

5.85

0.101

and

100.5

399.0

298.5

0.23

0.011

0.004

0.003

0.16

6.22

0.052

MAN24-32

90.0

402.0

312.0

0.21

0.015

0.004

0.004

0.27

6.42

0.121

including

96.0

99.3

3.3

1.03

0.308

0.026

0.013

0.14

19.78

4.840

MAN24-34

75.0

259.0

184.0

0.22

0.011

0.008

0.008

0.31

6.79

0.044

and

297.0

402.0

105.0

0.24

0.011

0.007

0.008

0.22

5.97

0.080

MAN24-35

25.2

144.3

119.1

0.22

0.012

0.003

0.004

0.24

6.74

0.051

and

161.0

387.0

226.0

0.18

0.013

0.005

0.006

0.40

7.39

0.030

MAN24-39

97.5

171.0

73.5

0.19

0.011

0.007

0.007

0.45

7.28

0.049

MAN24-40

103.3

153.0

49.7

0.24

0.012

0.004

0.004

0.26

6.10

0.071

and

141.0

396.0

255.0

0.21

0.012

0.005

0.005

0.41

7.05

0.031

MAN24-43

76.7

182.4

105.7

0.22

0.012

0.005

0.006

0.22

6.37

0.114

and

205.4

402.0

196.6

0.23

0.012

0.003

0.005

0.38

6.56

0.033

MAN24-44

43.0

186.7

143.7

0.21

0.011

0.004

0.004

0.30

6.65

0.029

and

195.0

402.0

207.0

0.19

0.013

0.005

0.007

0.415

7.176

0.030

MAN24-52

11.4

46.7

35.3

0.31

0.037

0.003

0.006

0.169

5.794

0.176

and

73.0

400.0

327.0

0.20

0.013

0.004

0.005

0.390

6.779

0.028

MAN24-56B

45.0

402.0

357.0

0.20

0.013

0.003

0.005

0.411

7.126

0.022

MAN24-60

31.9

241.2

209.3

0.20

0.013

0.007

0.007

0.369

6.920

0.060

and

277.5

310.9

33.4

0.26

0.015

0.003

0.004

0.055

8.981

0.057

*True width undetermined. All lengths are drillhole lengths.

Figure4-Mann-CE (CNW Group/Canada Nickel Company Inc.)

Mann North

The Mann North target is approximately 1.5 kilometres long by 600 metres wide (0.9 square kilometres) (Figure 4). Drilling was completed during the summer of 2024 and consisted of a preliminary exploratory phase of 16 drillholes totaling 6,315 metres. The majority of these holes intersected long sections of peridotite, with minor dunite (Table 4) with nickel grades in the peridotite consistent with Crawford. The peridotites, however, have anomalous values of platinum (Pt) and palladium (Pd) over significant intervals, as seen on Table 5. Hole MAN24-31, for example, intersected 12.7 metres of 0.58 g/t Pt+Pd and MAN24-50 intersected 16.7 metres of 0.50 g/t Pt+Pd.

In addition to the anomalous Pt and Pd, the ultramafic units at Mann also have higher values for gold, especially near certain contacts. The intersections can be high grade and narrow such as in MAN23-12 which intersected 4.93 g/t gold over 1.5 metres or can be thicker and lower grade such as in MAN24-67 which intersected 0.45 g/t gold over 45.0 metres. Nine of 15 of the drillholes at Mann North assayed to date include gold intersections of 0.4 g/t gold or higher. Significant intersections are summarized in Table 6. 

Assays are pending for three remaining holes.

Table 4 – Mann North drilling highlights

Hole ID

From (m)

To (m)

Length (m)*

Ni %

Co %

Pd g/t

Pt g/t

Cr %

Fe %

S %

MAN24-24

39.0

109.5

70.5

0.15

0.010

0.004

0.003

0.43

6.77

0.061

MAN24-31

28.4

519.0

490.6

0.18

0.012

0.013

0.022

0.38

6.88

0.061

including

57.0

72.0

15.0

0.30

0.014

0.044

0.024

0.28

6.47

0.280

MAN24-36

21.0

408.0

387.0

0.21

0.012

0.012

0.010

0.50

6.93

0.063

MAN24-46

18.8

312.5

293.7

0.17

0.012

0.005

0.007

0.40

7.54

0.028

and

327.9

399.0

71.1

0.17

0.014

0.012

0.008

0.39

8.25

0.057

MAN24-47

18.0

402.0

384

0.18

0.012

0.006

0.008

0.48

7.36

0.035

MAN24-50

21.5

280.6

259.1

0.15

0.012

0.004

0.005

0.45

7.54

0.024

and

313.5

390.0

76.5

0.18

0.013

0.010

0.011

0.41

7.29

0.051

MAN24-51

45.0

171.0

126

0.16

0.013

0.008

0.010

0.44

7.76

0.030

and

196.0

402.0

206

0.16

0.012

0.005

0.005

0.34

7.25

0.032

MAN24-53

15.0

402.0

387

0.11

0.012

0.007

0.010

0.33

8.07

0.032

MAN24-55

17.4

177.8

160.4

0.18

0.013

0.005

0.005

0.53

7.56

0.046

and

352.5

402.0

49.5

0.19

0.012

0.007

0.017

0.36

6.67

0.039

MAN24-59

31.5

402.0

370.5

0.15

0.012

0.010

0.011

0.38

7.19

0.044

MAN24-63

132.5

267.0

134.5

0.20

0.012

0.019

0.016

0.38

7.34

0.072

including

142.5

156.0

13.5

0.34

0.012

0.060

0.031

0.14

7.20

0.020

and

311.2

462.0

150.8

0.18

0.012

0.005

0.006

0.43

7.20

0.024

MAN24-67

15.6

420.0

404.4

0.15

0.012

0.025

0.021

0.36

7.72

0.039

including

327.0

348.0

21.0

0.23

0.013

0.081

0.043

0.55

7.79

0.141

Table 5 – Mann Properties PGM Highlights

Hole ID

From

(m)

To

(m)

Length

(m)

Pt+Pd

(g/t)

Pd

g/t)

Pt

(g/t)

Ni

(%)

Co

(%)

Cr

(%)

Fe

(%)

S

(%)

MAN24-49

201.0

219.0

18.0

0.51

0.30

0.21

0.04

0.007

0.37

4.58

0.021

MAN24-62

309

327

18.0

0.44

0.31

0.13

0.18

0.015

0.49

8.11

0.054

MAN24-35

390.0

402.0

12.0

0.33

0.11

0.22

0.06

0.011

0.48

7.49

0.014

MAN24-60

242.1

265.5

23.4

0.43

0.25

0.18

0.03

0.007

0.36

5.01

0.014

and

345.0

360.0

15.0

0.42

0.26

0.16

0.03

0.007

0.34

5.41

0.015

MAN24-69

238.0

255.0

17.0

0.45

0.26

0.19

0.04

0.007

0.39

4.76

0.013

MAN24-31

118.5

131.2

12.7

0.58

0.22

0.36

0.03

0.007

0.28

4.55

0.012

MAN24-38

125.0

138.0

13.0

0.32

0.21

0.11

0.02

0.007

0.28

6.79

0.024

and

285.0

292.6

7.6

0.47

0.21

0.26

0.05

0.011

0.29

6.21

0.013

and

382.5

396.2

13.7

0.39

0.18

0.21

0.05

0.012

0.36

5.64

0.018

MAN24-46

312.5

327.9

15.4

0.46

0.24

0.22

0.04

0.008

0.37

5.33

0.008

MAN24-50

280.6

297.3

16.7

0.50

0.33

0.17

0.03

0.007

0.38

5.07

0.011

MAN24-51

171.0

186.0

15.0

0.31

0.20

0.12

0.02

0.007

0.27

6.74

0.042

MAN24-55

288.0

337.0

49.0

0.33

0.17

0.17

0.02

0.007

0.25

6.33

0.038

MAN24-63

292.5

303.0

10.5

0.33

0.21

0.12

0.02

0.007

0.27

6.97

0.019

 

Fig-5-Mann-North (CNW Group/Canada Nickel Company Inc.)

Fig-6-Mann-North-Au (CNW Group/Canada Nickel Company Inc.)

Table 6 – Mann Properties Gold Highlights

Hole ID

From

(m)

To

(m)

Length

(m)

Au

(g/t)

MAN24-19

382.5

384.0

1.5

0.40

MAN24-24

52.5

67.5

15.0

0.32

MAN24-31

57.0

58.5

1.5

0.41

MAN24-36

348.0

354.0

6.0

0.60

including

348.0

349.5

1.5

1.58

MAN24-51

289.5

304.5

15.0

0.36

Including

300.0

301.5

1.5

1.06

MAN24-55

396.0

399.0

3.0

0.36

MAN24-59

139.5

141.0

1.5

0.51

and

274.5

276.0

1.5

0.98

MAN24-67

115.5

160.5

45.0

0.45

including

118.5

121.5

3.0

1.15

and

147.0

151.5

4.5

2.36

Reaume

The Reaume property is located 20 kilometres northeast of Crawford, 15 kilometres southwest of Cochrane, and 55 kilometres northeast of Timmins. The property will form part of the ExploreCo subsidiary assets with Noble on an 80%-20% (Canada Nickel-Noble) ownership basis. Prior drill campaigns in 2022 had seasonal access constraints, however, in June 2024, the Company resumed exploration and intersected a mineralized portion of the ultramafic body consisting of moderate to strongly serpentinized peridotite containing spotty, coarse-grained awaruite mineralization in hole REU24-12 (Figure 7). This release contains the results of three drillholes at Reaume with assay results pending on two remaining holes.

Table 7– Reaume drilling highlights.

Hole ID

From (m)

To (m)

Length (m)*

Ni %

Co %

Pd g/t

Pt g/t

Cr %

Fe %

S %

REU24-11

36.0

501.0

465

0.19

0.012

0.004

0.005

0.623

7.403

0.020

REU24-12

40.3

561.0

520.7

0.19

0.013

0.003

0.006

0.588

7.375

0.026

Including

330.0

375.0

45

0.24

0.012

0.004

0.005

0.262

6.818

0.017

REU24-14

18.0

40.5

22.5

0.23

0.015

0.005

0.003

0.403

7.743

0.047

and

86.3

119.0

32.7

0.03

0.007

0.189

0.159

0.313

6.063

0.015

and

147.0

402.0

255

0.18

0.013

0.009

0.013

0.543

7.880

0.037

including

303.0

307.5

4.5

0.44

0.018

0.067

0.047

0.680

8.723

0.130

*True width undetermined. All lengths are drillhole lengths.

Table 8 Reaume PGM Highlights

Hole ID

From

(m)

To

(m)

Length

(m)

Pt+Pd

(g/t)

Pd

g/t)

Pt

(g/t)

Ni

(%)

Co

(%)

Cr

(%)

Fe

(%)

S

(%)

REU24-14

86.3

119.0

32.7

0.35

0.19

0.16

0.025

0.007

0.31

6.06

0.015

including

100.5

105.0

4.5

0.67

0.43

0.24

0.022

0.006

0.33

5.56

0.012

Figure-7-Reaume (CNW Group/Canada Nickel Company Inc.)

Table 9: Drillhole Orientation

Hole ID

Easting (mE)

Northing (mN)

Azimuth (⁰)

Dip (⁰)

Length (m)

REID

REI24-41

457554

5404310

0

-60

706

REI24-43

457350

5404200

70

-60

696

REI24-45

457859

5403898

90

-60

668

REI24-46

456306

5404370

180

-50

702

REI24-47

457765

5404100

90

-60

702

REI24-48

456860

5404060

180

-55

702

REI24-50

457817

5404256

90

-60

600

REI24-52

457350

5404200

180

-60

759

MANN WEST

MAN24-33

496260

5412289

35

-50

396

MAN24-37

496144

5412134

35

-50

402

MAN24-45

495656

5412189

40

-50

402

MAN24-49

495656

5412189

230

-50

402

MAN24-54

495796

5412336

40

-50

402

MAN24-58

495641

5412486

40

-65

351

MAN24-62

495296

5412441

50

-50

501

MANN CENTRAL

MAN24-19

496800

5410400

0

-50

397

MAN24-22

498724

5410530

350

-50

552

MAN24-26

498360

5410370

0

-50

399

MAN24-32

498466

5410751

180

-50

402

MAN24-34

498970

5410764

165

-50

402

MAN24-35

497509

5410702

180

-50

402

MAN24-39

498466

5410751

215

-55

171

MAN24-40

497698

5410729

180

-50

396

MAN24-43

498265

5410644

180

-50

402

MAN24-44

497880

5410638

180

-50

402

MAN24-52

498450

5410430

180

-50

400

MAN24-56B

498260

5410430

180

-50

402

MAN24-60

498445

5410230

180

-50

360

MANN NORTH

MAN24-24

496342

5414290

20

-50

237

MAN24-31

497243

5413464

20

-50

519

MAN24-36

497022

5413872

20

-50

408

MAN24-46

497195

5413805

200

-50

402

MAN24-47

497340

5413730

20

-50

402

MAN24-50

497552

5413697

200

-50

402

MAN24-51

497277

5414004

200

-50

402

MAN24-53

497727

5413538

20

-50

402

MAN24-55

496866

5413943

20

-50

402

MAN24-59

496917

5414076

20

-50

402

MAN24-67

496599

5414301

20

-50

420

REAUME

REU24-11

488435

5422086

90

-50

501

REU24-12

488424

5421854

90

-50

561

REU24-14

488077

5422433

45

-50

402

Issuance of Shares to Service Provider

The Company also announces that it has entered into an engagement agreement (the "Services Agreement") with a third-party service provider (the "Service Provider"), pursuant to which the Service Provider has agreed to provide certain consulting and advisory services (the "Services") for a period of one year.. Pursuant to the Services Agreement, the Company has agreed to issue 150,000 common shares of the Company (the "Service Shares") to the Service Provider as a one-time payment for the Services.

The Issuance of the Services Shares is subject to the prior approval of the TSX Venture Exchange. The Service Shares will be subject to hold period under Canadian securities laws, which will expire on the date that is four months and one day from the date of issuance.

Statement Regarding TSX Venture

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Quality Assurance and Control, Drilling and Assaying

Edwin Escarraga, MSc, P.Geo., a "qualified person" as defined by National Instrument 43-101, is responsible for the on-going drilling and sampling program, including quality assurance (QA) and quality control (QC). The core is collected from the drill in sealed core trays and transported to the core logging facility. The core is marked and sampled at 1.5 metre lengths and cut with a diamond blade saw. One set of samples is transported in secured bags directly from the Canada Nickel core shack to Actlabs Timmins, while a second set of samples is securely shipped to SGS Lakefield for preparation, with analysis performed at SGS Burnaby or SGS Callao (Peru). All are ISO/IEC 17025 accredited labs. Analysis for precious metals (gold, platinum and palladium) are completed by Fire Assay while analysis for nickel, cobalt, sulphur and other elements are performed using a peroxide fusion and ICP-OES analysis. Certified standards and blanks are inserted at a rate of 3 QA/QC samples per 20 core samples making a batch of 60 samples that are submitted for analysis.

Qualified Person and Data Verification

Stephen J. Balch P.Geo. (ON), VP Exploration of Canada Nickel and a "qualified person" as such term is defined by National Instrument 43-101, has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Canada Nickel Company Inc.

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   

Cautionary Statement Concerning Forward-Looking Statements

This press release contains certain information that may constitute "forward-looking information" under applicable Canadian securities legislation.  Forward looking information includes, but is not limited to, drill and exploration results relating to the target properties described herein (the "Properties"), the significance of drill results, the ability to continue drilling, the impact of drilling on the definition of any resource, the potential of the Crawford Nickel Sulphide Project and the Properties, timing and completion (if at all) of mineral resource estimates, the ability to sell marketable materials, strategic plans, including future exploration and development plans and results, corporate and technical objectives, receipt of TSX Venture Exchange approval for the acquisition described herein and the completion of the transaction.  Forward-looking information is necessarily based upon several assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information.  Factors that could affect the outcome include, among  others:  future prices and the supply of metals, the future demand for metals, the results of drilling, inability to raise  the money necessary to incur the expenditures required to retain and advance the property, environmental liabilities  (known  and  unknown), general business, economic, competitive, political and social uncertainties, results of  exploration programs, risks of the mining industry, delays in obtaining governmental approvals, failure to obtain  regulatory or shareholder approvals. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information.  Accordingly, readers should not place undue reliance on forward-looking information.  All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof.  Canada Nickel disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, except as required by law.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/canada-nickel-provides-update-on-regional-exploration-program-302292727.html

SOURCE Canada Nickel Company Inc.

FAQ

What are the latest drilling results from Canada Nickel's Mann West property (CNIKF)?

Mann West drilling yielded 330 metres of 0.26% nickel in hole MAN24-58, including intervals of 11.0 metres of 0.35% nickel and 13.5 metres of 0.36% nickel.

When will Canada Nickel (CNIKF) release the initial resource estimate for Reid?

Canada Nickel expects to release the initial resource estimate for the Reid property before the end of 2024.

What gold grades were discovered at Mann North property (CNIKF)?

Mann North drilling revealed significant gold intervals including 4.5 metres of 2.36 g/t gold within a broader intersection of 45 metres of 0.45 g/t gold in hole MAN24-67.

CANADA NICKEL CO INC

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