Canada Nickel Achieves Perfect Drill Effects to Week at Reid

Highlights

• Perfect Reid intermission to past – 661 metres of 0.29% nickel together with 100 metres of 0.42% nickel and 40 metres of 0.51% nickel in REI-24-35
• All 8 holes concentrated on Reid Central Core intersected core lengths more than 620 metres with moderate grades of 0.21% to 0.29% nickel

TORONTO, Aug. 8, 2024 /PRNewswire/ – Canada Nickel Corporate Inc. (“Canada Nickel” or the “Company“) (TSXV: CNC) (OTCQX: CNIKF) is happy to announce certain assay effects from its ongoing 2024 exploration program at its Reid attribute, situated 37 kilometres northwest of Timmins, Ontario.

All 34 holes drilled this presen at Reid have intersected lengthy periods of centered mineralized dunite and minor peridotite. Whole assay effects for 18 holes had been won, 13 of which can be introduced these days with assay effects for the too much holes pending. Assay effects for 5 holes had been prior to now excepted on March 18 and Would possibly 6, 2024.

Mark Selby, CEO of Canada Nickel stated, “Reid continues to deliver excellent results, including the best individual hole to date with long core lengths grading in excess of 0.4% and 0.5% nickel and all holes delivering large intervals of target mineralization.  With a target geophysical footprint larger than our flagship Crawford project and a width in the central core more than double Crawford, we look forward to the initial resource estimate for Reid expected to be released in the fourth quarter of 2024.”

Mr. Selby endured, “The ongoing success of our regional exploration program clearly demonstrates the potential scale of the Timmins Nickel District.  We now have seven drill rigs drilling five separate targets – Reaume, Reid, Mann Central, Mann Northwest-SE, and Mann Northwest-NE – which are in addition to the two properties where we have already published a resource.  Few companies have more than one project resource and we remain on-track and expect to deliver seven additional resources by this time next year.”

Reid Attribute

The Reid Attribute is situated simply 16 km southwest of Crawford and incorporates a geophysical goal of three.9 km², which is just about 2.4 instances higher than Crawford (see Determine 1).   The Corporate expects to finish the primary segment of drilling nearest in August and to construct an preliminary useful resource at Reid in This fall 2024. The too much drillhole assays might be excepted as soon as they have got been won.

Hollow REI24-35 was once collared akin the very heart of the ultramafic frame and drilled south. The total intermission of 661.5 metres, starting at 40.5 metres downhole, assayed 0.29% nickel together with 100.5 metres of 0.42% nickel, and 40.5 metres of 0.51% nickel, finishing the opening in sturdy mineralization. On this section the ultramafic layout opens to the north and is greater than 900 metres large, more or less two times the width of Crawford’s Major Zone.  Hollow REI24-27 was once collared akin the west border of the ultramafic frame and drilled north. The total intermission of 674.8 metres, starting at 27.2 metres downhole, assayed 0.27% nickel together with 34.5 metres of 0.30% nickel. On this section the ultramafic layout is greater than 800 metres thick, just about two times that of Crawford’s major zone. Holes REI24-27, REI24-28, REI24-29, REI24-30, REI24-31, REI24-32, REI24-35, REI24-37, REI24-38 had been drilled to proceed to infill the Central Core section of the storage with an approximate width of 900 metres and hit range of one.7 kilometres.

The drilling marketing campaign has recognized a NNW-SSE trending hall of dykes working throughout the heart of the storage which is roughly 150 metres large, lower than 7% of the entire hit range of two.2 kilometres within the central core. Holes REI24-23, REI24-24, REI24-25, REI24-26 had been drilled to spot the level of mineralization throughout the native dunite, and higher outline the structural controls and extent of the dykes.

Desk 1 – Reid drilling downhole composite.

Desk 2: Drillhole Orientation

Commentary Referring to TSX Mission

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

Feature Promise and Keep an eye on, Drilling and Assaying

Edwin Escarraga, MSc, P.Geo., a “qualified person” as outlined by way of Nationwide Tool 43-101, is answerable for the on-going drilling and sampling program, together with property promise (QA) and property keep an eye on (QC). The core is accumulated 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 scale down with a diamond blade noticed. One poised of samples is transported in tied luggage without delay from the Canada Nickel core shack to Actlabs Timmins, year a 2d poised of samples is securely shipped to SGS Lakefield for preparation, with research carried out at SGS Burnaby or SGS Callao (Peru). All are ISO/IEC 17025 authorised labs. Research for valuable metals (gold, platinum and palladium) are finished by way of Fireplace Assay year research for nickel, cobalt, sulphur and alternative parts are carried out the usage of a peroxide fusion and ICP-OES research. Qualified requirements and blanks are inserted at a charge of three QA/QC samples in line with 20 core samples creating a dozen of 60 samples which might be submitted for research.

Certified Particular person and Information Verification

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

About Canada Nickel Corporate

Canada Nickel Corporate Inc. is advancing the then time of nickel-sulphide tasks in order nickel required to feed the top enlargement electrical automobile and chrome steel markets. Canada Nickel Corporate has carried out in more than one jurisdictions to trademark the phrases NetZero Nickel^TM, NetZero Cobalt^TM, NetZero Iron^TM and is pursuing the advance of processes to permit the manufacturing of internet 0 carbon nickel, cobalt, and iron merchandise. Canada Nickel supplies buyers with leverage to nickel in low political chance jurisdictions. Canada Nickel is recently anchored by way of its 100% owned flagship Crawford Nickel-Cobalt Sulphide Undertaking within the center of the prolific Timmins-Cochrane mining camp. For extra knowledge, please seek advice from www.canadanickel.com.

For additional knowledge, please touch:

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

Cautionary Commentary Regarding Ahead-Having a look Statements

This press loose incorporates sure knowledge that can represent “forward-looking information” beneath appropriate Canadian securities regulation.  Ahead shopping knowledge contains, however isn’t restricted to, drill and exploration effects in the case of the objective homes described herein (the “Properties”), the virtue of drill effects, the facility to proceed drilling, the affect of drilling at the definition of any useful resource, the opportunity of the Crawford Nickel Sulphide Undertaking and the Houses, timing and finishing touch (if in any respect) of mineral useful resource estimates, the facility to promote marketable fabrics, strategic plans, together with hour exploration and building plans and effects, and company and technical goals.  Ahead-looking knowledge is essentially primarily based upon a number of guesses that, year thought to be cheap, are matter to identified and unknown dangers, uncertainties, and alternative elements which would possibly purpose the untouched effects and hour occasions to vary materially from the ones expressed or implied by way of such forward-looking knowledge.  Elements that might have an effect on the result come with, amongst  others:  hour costs and the availability of metals, the hour call for for metals, the result of drilling, incapacity to lift  the cash vital to incur the expenditures required to secure and exit the attribute, environmental liabilities  (identified  and  unknown), basic industry, financial, aggressive, political and social uncertainties, result of  exploration systems, dangers of the mining business, delays in acquiring governmental approvals, failure to procure  regulatory or shareholder approvals, and the affect of COVID-19 homogeneous disruptions when it comes to the Corporate’s  industry operations together with upon its staff, providers, amenities and alternative stakeholders.  There can also be deny promise that such knowledge will turn out to be correct, as untouched effects and hour occasions may just vary materially from the ones expected in such knowledge.  Accordingly, readers will have to no longer playground undue reliance on forward-looking knowledge.  All forward-looking knowledge contained on this press loose is given as of the past hereof and is primarily based upon the evaluations and estimates of control and knowledge to be had to control as on the past hereof.  Canada Nickel disclaims any aim or legal responsibility to replace or revise any forward-looking knowledge, whether or not on account of unused knowledge, hour occasions or differently, except for as required by way of regulation.

SOURCE Canada Nickel Corporate Inc.