CANADA NICKEL CO INC - CNIKF STOCK NEWS

Canada Nickel Company has announced an updated mineral resource estimate for its Crawford Nickel Sulphide Project, increasing the Measured and Indicated (M&I) resources to 1.43 billion tonnes at 0.24% nickel, with an additional 670 million tonnes of Inferred resources at 0.23% nickel. The Crawford Project is now considered the fifth largest nickel sulphide resource globally, containing 3.48 million tonnes of nickel. The feasibility study is on track for completion by year-end, with substantial exploration still ongoing.

Canada Nickel Company announced promising drilling results from its Reid property, revealing 354 meters of 0.24% nickel, including sections of higher-grade mineralization of 0.39% over 15 meters and 0.57% over 6 meters. The mineralogy aligns with the flagship Crawford Project, and the Reid property has a larger geophysical footprint. An update on the Crawford resource is expected by July 6, 2022. The drilling program reaffirms the company's position in the nickel mining sector.

Canada Nickel Company (TSXV: CNC, OTCQX: CNIKF) announced the submission of the preliminary draft of the Initial Project Description (IPD) to the Impact Assessment Agency of Canada. This follows the signing of Impact Assessment Agreements with Taykwa Tagamou Nation, Matachewan First Nation, and Mattagami First Nation. This initiative aims to incorporate Indigenous communities' perspectives into the Crawford Nickel Project's development, promoting environmental sustainability and economic opportunities. The final IPD is expected to be submitted in summer 2022.

Canada Nickel Company held its annual and special meeting on April 20, 2022, where all director nominees were elected, and MNP LLP was appointed as auditors. The company also announced the acquisition of properties in the Timmins nickel-sulphide district, agreeing to issue 50,000 common shares subject to TSX Venture Exchange approval. Additionally, Canada Nickel will issue 44,103 common shares at $2.60 each, totaling $115,448, to a service provider for obligations due. This strategic move aims to strengthen its nickel-sulphide projects catering to the electric vehicle market.

Canada Nickel Company (CNIKF) announced exciting assay results from its Crawford Nickel Sulphide Project, achieving the highest grade interval to date with 64.5 metres of 0.71% nickel. The East Zone mineralization increased by 33% to 2.8 kilometres, with drilling extending to 1 kilometre depth. The PGM Zone also demonstrated potential with grades up to 1.4 g/t. Additionally, the company issued 1,040,000 stock options and 925,362 restricted share units, enhancing its incentive plans. Over 200 drill holes have been completed to support a resource increase expected mid-year.

Canada Nickel Company has reported significant advancements in the Crawford Nickel Sulphide Project, confirming a nickel recovery rate of 63% from a low-grade feed. This recovery is accompanied by an impressive nickel sulphide concentrate grade of 46%, the highest noted in a locked cycle test so far. Each percent improvement in nickel recovery corresponds to a potential US$92 million increase in project value. Additionally, the company has expanded its land holdings in the Timmins district and is nearing completion of a strategic investor process.

Canada Nickel Company (TSXV: CNC) announced promising drill assay results from its recent exploration activities at Mahaffy, Dargavel, Kingsmill, and MacDiarmid properties. Notably, the Dargavel hole DAR21-01 presented an impressive 162 metres of 0.30% nickel, including a higher grade of 0.34% nickel over 28.5 metres. The company's Crawford feasibility study is expected to be finalized by Q4 2022, with the permitting process commencing in Q1 2022. Management appointments have strengthened the engineering and environmental teams, positioning the company for further success.

Canada Nickel Company announced the closing of a $10 million secured loan with Auramet International, with proceeds aimed at funding the Crawford Nickel Sulphide Project.

The loan, due by April 5, 2022, carries a 1% monthly interest rate and includes an arrangement fee of 2%. Additionally, the company issued 325,000 warrants at a strike price of $3.94. This financial support positions Canada Nickel to advance its project while it concludes a strategic investor process in the first quarter of 2022.

Canada Nickel Company announced a US$10 million secured loan facility with Auramet to support the ongoing Crawford Nickel Sulphide Project. The loan, due April 5, 2022, carries a 1% monthly interest and an arrangement fee of 2% of the loan amount. The company is in discussions with strategic investors to enhance funding opportunities and expects to conclude these discussions early next year. Canada Nickel has made progress with drilling results and a Preliminary Economic Assessment, positioning itself well in the nickel market.