Canada Nickel enroute to construction of Crawford Nickel Sulphide Project while advancing Regional Nickel Exploration

Canada Nickel Company Inc. announced October 9th with the Government of Canada, that it has been conditionally approved for a C$4.38 million contribution from Natural Resources Canada’s Critical Minerals Infrastructure Fund (CMIF).

The Critical Minerals Infrastructure Fund (CMIF) will provide up to $1.5 billion in federal funding over seven years for clean energy and transportation infrastructure projects necessary to enable the sustainable development and expansion of critical minerals in Canada.

The contribution made to Canada Nickel is in support of the Company’s ongoing studies to undertake preconstruction and project development activities at the Company’s flagship Crawford Nickel Sulphide Project, primarily focusing on electrical infrastructure. The Studies are a crucial step for Canada Nickel and the Government of Canada to safeguard the development of clean energy infrastructure that drives innovation in the mining sector.

“By supporting these Studies, the federal government is investing the timely development of sustainable infrastructure to ensure a stable source of critical minerals, foster economic growth, create over 1500 high-paying jobs, and advance its commitment to net-zero carbon targets when Crawford is in production,” said CEO Mark Selby.

With successful implementation of the electrical infrastructure and by utilizing Ontario’s clean electricity grid, the Studies are expected to lead to mining production that will significantly reduce greenhouse gas emissions by more than 60% compared to diesel-powered operations.

“With funding from the Government of Canada, Canada Nickel’s Crawford Nickel Sulphide Project will help meet growing demand for nickel and position Canada as a reliable supplier of the critical minerals the world wants to buy. Projects like these build off the Timmins region’s long history and expertise as miners,” said the Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources.

The contribution is subject to confirmatory due diligence, settlement of definitive documentation, and other customary conditions.

Promising Results & Resource Potential

Canada Nickel Company is advancing its exploration footprint in the Timmins Nickel District, unveiling promising drill results across several properties, including Reid, Mann, and Reaume. The company’s comprehensive 2024 exploration program has now exceeded 100,000 metres of drilling over 14 regional properties, all within 100 kilometres of Timmins.

“We’re consistently proving the potential of the Timmins Nickel District with our results from these five distinct properties,” said Selby. “Notably, the shallow, large-scale mineralization at Mann West and the robust infill results at Reid underscore the substantial resource potential we’re working to define. We’re on track for an initial resource at Reid before year-end, and Mann Central’s multiple well-mineralized peridotite zones span a 1.9-kilometre strike length.”

Canada Nickel’s exploration program is not only confirming nickel mineralization but is revealing unexpected gold intersections. “While platinum and palladium are typical for this district, Mann North surprised us with gold intervals—like 45 metres at 0.45 g/t and a striking 4.5 metres at 2.36 g/t gold,” Selby added.

Reid Property:
A Resource on the Horizon

The Reid property, located 16 kilometres southwest of Crawford, covers a 3.9 square-kilometre geophysical anomaly nearly 2.4 times the size of Crawford. To date, 26,061 metres over 41 drill holes have been completed in 2024, delineating a well-mineralized ultramafic body with a strike length of 2.2 kilometres, extending up to 650 metres deep. All drill holes have intersected long nickel-bearing intervals, primarily dunite with occasional peridotite, solidifying the resource potential.

Assays from seven drill holes are included in the latest results, with seven additional assays pending. Canada Nickel remains on schedule to deliver the initial resource estimate at Reid before end of 2024.

Mann Property:
Exploring the Depth & Breadth of Nickel Potential

Located 22 kilometres east of Crawford between Timmins and Cochrane, the Mann property encompasses four distinct exploration targets—Mann North, Mann West, Mann Central, and Mann South. Canada Nickel has completed drilling in three of these areas and is actively exploring Mann South. In collaboration with Noble Mineral Exploration, Canada Nickel owns an 80% stake in the Mann property, while Noble retains the remaining 20%.

Mann West: Covering a 3.4 square-kilometre area, Mann West’s mineralized body extends over a 1.7-kilometre strike length and up to 600 metres wide. Canada Nickel has drilled 40 holes here, focusing on highly serpentinized peridotite and minor dunite formations enriched with visible nickel sulphide mineralization. This phase of drilling is expected to support an initial resource estimate by Q1 2025.

Mann Central: Mann Central spans 4.5 kilometres in length, with a defined area of interest at 1.9 kilometres by 600 metres. Drilling to date totals 32 holes over 11,853 metres, revealing consistent peridotite mineralization. Notable results include intersected intervals with 3.3 metres grading 1.03% nickel, 0.31% cobalt, and 0.57% copper in MAN24-32. Assays are still pending for 10 drill holes, with prior results reported in September.

Mann North: At 1.5 kilometres by 600 metres, Mann North has yielded promising early results with nickel grades on par with Crawford’s, alongside surprising concentrations of platinum, palladium, and gold. Assays included 12.7 metres at 0.58 g/t Pt+Pd and 16.7 metres at 0.50 g/t Pt+Pd, plus high-grade gold intercepts, such as 4.93 g/t over 1.5 metres and broader intervals, like 0.45 g/t over 45 metres.

Reaume: Initial Results Support Nickel Expansion

Located 20 kilometres northeast of Crawford, the Reaume property will join Canada Nickel’s ExploreCo subsidiary, held in partnership with Noble Mineral Exploration 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 with promising finds of serpentinized peridotite and visible awaruite nickel mineralization. Assays for three holes are now complete, with two remaining assays pending.

Building the Future of Sustainable Nickel Production

“We’re tapping into Ontario’s vast nickel potential to help fuel a greener future,” Selby concluded. “Our exploration achievements lay a strong foundation for scalable, sustainable nickel production within a region that can deliver meaningful returns to investors and critical metals to the global market.” Canada Nickel’s robust exploration portfolio in Ontario’s Timmins-Cochrane region underscores its commitment to responsible mining, laying the groundwork for substantial nickel and precious metal discoveries that will shape the future of clean energy resources.

To read the Northern Mining Report for 2024, click on this link for your 128 page digital copy. https://issuu.com/canadiantradex/docs/ml_fall_2024

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