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North American Nickel Continues to test Loveland Nickel Property near Timmins

Apr 30, 2020

North American Nickel Inc. is pleased to report that results have been received from four drill holes completed at its Loveland Nickel property 30km northwest of Timmins. The property is 23.6 km2 in size and has year-round access. NAN CEO, Keith Morrison, commented: "NAN's strategy has placed a strong focus on the development of a pipeline of quality nickel, copper, cobalt projects in North America. The NAN team has been instrumental at evaluating each project to test and prioritize the best targets that demonstrate exploration potential. The exploration strategy is designed to establish whether a property has the potential to contain an ore deposit of sufficient size and grade to warrant development under reasonable economic conditions. The Loveland Project is an important part of this strategy, and our work was designed to establish whether the footprint of mineralization is large enough to warrant further exploration."

The Loveland Nickel Property is underlain by a mineralized differentiated mafic-ultramafic intrusion that hosts the historic non-NI 43-101 compliant Enid Creek historic resource estimate (See news release dated February 6, 2020). The 2020 exploration program was designed to evaluate a series of conductors identified from the VTEMMAX survey completed in 2017 to establish whether the mineralizing system had a continuous zone of high-grade mineralization associated with conductive plates or prospective geology. The Company completed a 4-hole program for 1086m of diamond drilling, with borehole electromagnetic (BHEM) surveys.

LN25-20-002 was designed to test the potential expansion of the mineral zone down-dip of Enid Creek after LN25-20-001 was abandoned due to poor ground conditions. Hole LN25-20-002 intersected gabbroic rocks of the Enid Creek Gabbro Complex (ECGC), and narrow intervals of mineralization with up to 0.18% Cu, 0.13% Ni, and 0.23g/t Pd over 0.7m. A subsequent borehole EM survey indicated that the center of conductivity is located up-dip towards the known historic mineralization.

LN25-20-003 tested a priority conductive plate along the interpreted southeast margin of the intrusion in a previously unexplored area covered by overburden. LN25-20-003 did not intersect mafic intrusive rocks of the ECGC. The conductivity is interpreted to be caused by thin semi-massive stringers of pyrrhotite in volcanic rocks of intermediate composition. This hole was not surveyed with BHEM because of a blockage at 75m. No significant assays were reported.

LN25-004 targeted a conductive EM plate to the north of the Enid Creek Deposit. The hole encountered altered volcanic rocks of intermediate composition with narrow pyrrhotite veins but did not intersect the ECGC. A conductive plate modelled from the BHEM results indicates a plunge to the northeast. No significant assays were reported.

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