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Canada Nickel makes significant discovery at Nesbitt and additional results on regional properties

Jun 29, 2021

“This discovery at Nesbitt of sulphide mineralization just 8 kilometres from Crawford is very exciting as it opens up the potential for another higher-grade source of feed for the Crawford mill," said Mark Selby, Chair & CEO. "This discovery also further confirms the district scale potential of our properties. The success of our geophysical approach combined with the success in confirming the results of the historic Nesbitt drilling increases the potential for success following up on the historic 0.38% nickel interval at the recently acquired Bradburn/Dargavel target.”

Canada Nickel Company Inc. has announced initial results from its drill program testing targets located on its regional properties around its cornerstone Crawford Nickel Project.

The first two discovery holes at the Nesbitt Nickel property intersected visible disseminated nickel sulphides on a geophysical target that is 3.7 kilometres long and 100 to 300 metres wide and located just 8 kilometres north of the Company’s Crawford Nickel Project. The first two holes at the Mahaffy Nickel property and the first two holes drilled by Canada Nickel on the Kingsmill property intersected mineralized dunite across core lengths up to 417 metres. Assays are pending on all holes.

Steve Balch, VP Exploration said “These results highlight the success of our geophysical approach to define these hidden targets as we have intersected significant mineralization in every drill hole on our first three regional properties. While this approach has identified multiple targets on each property, we will focus our efforts outside of Crawford on Nesbitt, MacDiarmid, and our recently acquired Dargavel/Bradburn property as those properties will be closest to the Crawford infrastructure, appear to be more serpentinized, and most importantly, now have demonstrated higher grade potential. We will continue to explore targets on the other properties as we improve our robust methodology to rapidly evaluate prospects.”

The Nesbitt Nickel property is located 8 kilometres north of the Company’s initial discoveries in Crawford Township. The Mahaffy Nickel property is located 15 kilometres west of Crawford and the Kingsmill Nickel property is located 22 kilometres northwest of Crawford. The Crawford Nickel 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 mining activity.

Nesbitt Nickel Project

The Nesbitt Nickel project is centered on an ultramafic sill that strikes east-west for a distance of 3.7 kilometres and a width that is estimated to vary between 100 to 300 metres (for reference, the Crawford Main Zone resource is 1.7 kilometres long and 225 to 425 metres wide). The ultramafic sill was previously drilled in 1966 with Historic hole 27083 yielding 0.28% nickel over a core length of 163 metres including 0.33% nickel over a core length of 43 metres and Historic hole 25027 yielding 0.23% nickel over 114 metres. See below Cautionary Statement Concerning Historical Information.

Two holes were collared on the central Nesbitt trend to explore a coincident (high) magnetic and (low) gravity anomaly (see Figure 2 below) identified during Canada Nickel’s geophysical interpretation earlier this year. The first hole was set up on the same section as Historic hole 27083. The second hole was positioned within the most intense section of the geophysical anomaly 300 metres to the east of the first hole.

Nesbitt NES21-01 was collared on the south side of the intrusion and drilled to the north. The hole was pulled back into the volcanics to test for possible PGM (platinum group metals) mineralization at the pyroxenite-peridotite contact. It exited the volcanics and intersected dunite with visible sulphides for a core length of 154 metres from 315 metres until 469 metres where the hole returned to volcanics. NES21-02 was collared on the south side of the intrusion 300 metres east of the first hole, also pulled south into volcanic rocks to test for a possible PGM intersection. The hole encountered a gabbro, pyroxenite and peridotite sequence (similar to the north side of Crawford Main Zone hosting the PGM Zone) from 113 to 222 metres with visible sulphides throughout the pyroxenite and peridotite before intersecting mineralized dunite for 138 metres and remains underway in dunite at 360 metres. The area around Nesbitt may have been subjected to faulting with unknown displacement if any.

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