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Canada Nickel Makes Fourth New Discovery – North Zoneat Crawford Nickel-Cobalt Sulphide Project

Dec 17, 2020

Canada Nickel Company Inc. ("Canada Nickel" or the "Company") (TSX-V:CNC) (OTCQB: CNIKF) today announced its fourth new discovery – North Zone, at its Crawford Nickel-Cobalt Sulphide project, from the first two drill holes. The assays from the North Zone are pending.

“This is another excellent discovery – a sizeable anomaly with significant scale potential and further confirmation of our geophysical model which we will be applying to the recently completed geophysics programs on our option properties.” said Mark Selby, Chair and CEO of Canada Nickel. “The first two drill holes were spotted based on the same coincidental geophysical signatures as we saw at the Main Zone and have delivered moderately mineralized dunite similar to average grade portions of the Main Zone. I look forward to seeing these assay results and further exploration results from the three drills at the property, as we continue to unlock the potential at Crawford and prepare to test the exploration potential of our option properties.”

The Crawford Nickel-Cobalt Sulphide Project is located in the heart of the prolific Timmins-Cochrane mining camp in Ontario, Canada, and is adjacent to well-established, major infrastructure associated with over 100 years of regional mining activity.

North Zone Discovery

The two holes, collared 100 metres apart, were both collared inserpentinized dunite, consistent with mineralization seen in the Crawford Main Zone. The first hole, CR20-84, remained in mineralized dunite across its entire core length of 501 metres. Additionally, the second hole, CR20-87, collared in and intersected mineralized dunite for 218 metres before intersecting multiple peridotite/pyroxenite sequences similar to ones seen in recently discovered PGM zones at Crawford. The anomaly in the North Zone is 1.1 km by 400 metres and confirms the Company’s understanding of coincident magnetic and gravity geophysical anomalies as a guide to mineralization, as seen in the Main Zone. See Figures 1, 2 and 3, and Table 1 for location and position of holes relative to geophysical anomaly.

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