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Canada Nickel expects resource estimate for Deloro south of Timmins by July

Jun 4, 2024

Canada Nickel Company Inc. is pleased to provide an update on its 2024 exploration program with assay results from eleven holes on its Deloro property (“Deloro”), which now completes the infill drilling in advance of the first resource estimate.

Mark Selby, CEO of Canada Nickel said, “We are very pleased with the 2024 drilling program at Deloro which built on our successful campaign in 2022. Deloro is just 8 km south of Timmins, with shallow overburden and a large 1.2 km long and up to 0.7 km wide footprint. Work is now underway on our initial resource on the property which is expected to be one of seven resource estimates that we plan to complete within the next 12 months. With this work amongst the rest of our portfolio, we are clearly demonstrating that our regional exploration program continues to be very successful. We now have seven drill rigs turning. This includes two rigs collecting samples for pilot plant material from Crawford to support downstream processing test work, and five rigs exploring at Reid and Texmont. Once drilling is completed at these properties, we will begin drilling at our Mann properties.”

Deloro Property

The Deloro Property is located just 8 km south of Timmins and is accessible year-round by road as well as located less than 2 km from existing powerlines. The Company has successfully completed its infill drilling program, with ten of eleven drill holes intersecting long intervals of mineralized ultramafic, mostly dunite. The drillholes were collared predominantly near the east and south contacts to infill and extend the previously defined outline of the ultramafic from historic geophysical data. The mineralized ultramafic body is up to 700 m wide and about 1.2 km long, to a depth of 300 m (where it remains open). Mineralization is relatively shallow with less than 9 m of overburden on average across all drillholes.

Canada Nickel has completed a geological model of the deposit and expects an initial resource estimate to be completed in July.

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