CANADA NICKEL CO INC - CNIKF STOCK NEWS

Canada Nickel Company has announced promising exploration results from its Reid Property, located 16 km from the Crawford Nickel discovery. All 16 drillholes intersected significant nickel mineralization, with the Central Core Area showing a mineralized width over 500 meters, 50% wider than Crawford Main Zone. The total target footprint of Reid is 3.9 km², over twice that of Crawford. Additionally, the company has extended the repayment of a $10 million loan with Auramet to March 3, 2023, facilitating planned financing initiatives. These developments mark Reid as a significant nickel discovery and bolster Canada Nickel's position in the market.

Canada Nickel Company has confirmed the integration of carbon capture and storage into its Crawford Nickel Project, positioning it as a potential leader in carbon storage in Ontario and Canada. The latest test work supports the IPT Carbonation process, demonstrating significant CO₂ capture capabilities. An integrated feasibility study is expected by Q2 2023, with plans for production permitting by mid-2025. The project aligns with government climate initiatives and may qualify for significant tax credits, enhancing its financial viability for stakeholders.

Canada Nickel Company (OTCQX: CNIKF) announced successful drilling results from its Reid and Sothman properties, confirming a significant nickel discovery. Notably, hole REI22-07 revealed 325 meters of 0.29% nickel, including 81 meters of 0.35% nickel. The new discovery at Sothman included five drill holes intersecting mineralization. The ongoing exploration program aims to enhance confidence in identifying additional high-grade nickel deposits across the company’s extensive targets.

Canada Nickel Company announced successful results from pilot plant testing at its Crawford Nickel Project. Key achievements include an 18% improvement in iron recovery and a 15% increase in chromium recovery, along with a 16% increase in iron grade to 55%. The testing confirms the effectiveness of the updated magnetite circuit, and discussions are ongoing with several stainless and ferroalloy producers for downstream processing partnerships. The project aims to produce nickel, chromium, and other valuable by-products while focusing on zero carbon production methods.

Canada Nickel Company announced significant advancements in its IPT Carbonation Process for carbon capture, tripling efficiency within 24 hours. This method could enable the production of Net Zero Nickel and generate up to 21 tonnes of CO₂ credits per tonne of nickel. The Crawford Project is projected to yield 710,000 tonnes of CO₂ credits annually, totaling 18 million tonnes over its life. The process simplifies the quantification of carbon capture, making it a potential game-changer in sustainable mining.

Canada Nickel Company has successfully closed a US$10 million secured loan facility with Auramet International. This funding will support post-feasibility work on permitting and detailed engineering for the Crawford Nickel-Cobalt Sulphide Project during the winter months. The loan carries a 1.00% monthly interest rate and is due January 18, 2023, with additional terms including a 2% arrangement fee and the issuance of 325,000 warrants at $1.52 per share.

Canada Nickel Company is on track to complete its feasibility study for the Crawford project by year-end, with current completion at 85%. The company has secured a US$10 million loan facility from Auramet, expected to close by October 14, 2022, and due for repayment by January 14, 2023, carrying an interest of 1.00% per month. The loan will also provide Auramet with 325,000 one-year warrants at a strike price of $1.52 per share. This financing will support post-feasibility study activities, including permitting and detailed engineering.

Canada Nickel Company has filed an independent technical report for its Crawford Nickel Sulphide Project, which includes an updated mineral resource estimate. The report, prepared by Caracle Creek International Consulting with contributions from Ausenco Engineering and Wood Environment, reiterates results from the Preliminary Economic Assessment from July 2021. This development aims to provide transparency to investors regarding the project’s potential in supporting electric vehicle and stainless steel markets.

Canada Nickel Company (OTCQX: CNIKF) has initiated the federal Impact Assessment permitting process for its Crawford Nickel Project after the Impact Assessment Agency of Canada accepted the Company's Initial Project Description. This acceptance starts a 180-day public comment period. Canada Nickel engaged in over 20 meetings with Indigenous communities and stakeholders to gather feedback on the project. Following the comment period, the Agency will provide a Summary of Issues to which Canada Nickel must respond before continuing the permitting process.