Canada Nickel Secures $3.4 Million Federal Contribution to Advance Groundbreaking Carbon Storage Technology

Highlights:

Canada Nickel’s IPT Carbonation process transforms nickel mining tailings into a permanent carbon storage solution.
The Crawford Nickel Sulphide Project is designed to be one of Canada’s largest carbon storage facilities.

TORONTO, Feb. 12, 2025 /PRNewswire/ – Canada Nickel Company Inc. (“Canada Nickel” or the “Company“) CNC CNIKF is pleased to announce that it has been selected for funding of $3.4 million from the Government of Canada to support the development of Canada Nickel’s proprietary In-Process Tailings (IPT) Carbonation process at the pilot plant level.

The IPT Carbonation process transforms nickel mining tailings into a permanent carbon storage solution and Canada Nickel has filed a patent application for this process. The Company’s flagship Crawford Nickel Sulphide Project has been designed to be one of Canada’s largest carbon storage facilities and an industry leader in sustainable mining and carbon management.

Canada Nickel’s IPT carbonation technology ultramafic tailings as a geologically stable permanent CO₂ storage solution. Once operational, the Crawford Nickel Sulphide Project has the potential to sequester up to 1.5 million tonnes of CO₂ annually during its peak production period and is expected to store 54 million tonnes over the 41-year life of the Project, positioning it as one of Canada’s largest, and Ontario’s largest, carbon storage facilities.

Mark Selby, CEO of Canada Nickel Company, expressed his gratitude for the Government of Canada’s funding, stating, “This contribution is a testament to the power of innovation and collaboration. With the Government of Canada’s support, we are turning mining tailings into a solution for climate change, creating a legacy of environmental stewardship and sustainable resource development. The IPT Carbonation combined with the potential for multiple Crawford-type deposits in the Timmins Nickel District, provides the foundation for a globally unique zero carbon industrial cluster in Northeast Ontario.”

The funding will be provided through Natural Resources Canada’s Energy Innovation Program – Carbon Capture, Utilization, and Storage (CCUS) Research, Development, and Demonstration (RD&D) call for proposal. The project aligns closely to the objectives of the call, which is to characterize and develop safe, permanent CO₂ storage, as well as supports Government of Canada’s broader goals of reducing greenhouse gas emissions and fostering innovative clean energy technologies.

“The Government’s contribution to Canada Nickel will help to advance carbon management technologies in Canada, in line with our Carbon Management Strategy which envisions a multibillion-dollar carbon management industry to help realize the country’s economic and environmental goal, ” said Marc G. Serre, MP Nickel Belt and Parliamentary Secretary to the Minister of Energy and Natural Resources.

Canada Nickel looks forward to continuing its work with Indigenous Nations, governments, and stakeholders to advance sustainable critical mineral resource development while addressing the pressing challenge of climate change.

About Canada Nickel Company

Canada Nickel Company Inc. is advancing the next generation of nickel-sulphide projects to deliver nickel required to feed the high growth electric vehicle and stainless steel markets. Canada Nickel Company has applied in multiple jurisdictions to trademark the terms NetZero NickelTM, NetZero CobaltTM, NetZero IronTM and is pursuing the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Canada Nickel provides investors with leverage to nickel in low political risk jurisdictions. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel Sulphide Project in the heart of the prolific Timmins–Cochrane mining camp. For more information, please visit www.canadanickel.com

For further information, please contact:

Mark Selby, CEO

Phone: 647-256-1954

Email: info@canadanickel.com

Sydney Oakes, Director of Indigenous Relations and Public Affairs

Phone: 905-929-7151

Email: sydneyoakes@canadanickel.com

Cautionary Statement Concerning Forward-Looking Statements

This press release contains certain information that may constitute “forward-looking information” under applicable Canadian securities legislation. Forward looking information includes, but is not limited to, the patent application for the Company’s IPT Carbonation process, the construction of processing facilities, the potential of the Crawford Nickel Sulphide Project (“Crawford”), the ability of the Company to deliver nickel required to feed the high growth electric vehicle and stainless-steel markets, the potential for multiple Crawford-type deposits in the Timmins Nickel District, the Company’s continued work with Indigenous Nations, governments, and stakeholders to advance sustainable critical mineral resource development, and the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Readers should not place undue reliance on forward looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Canada Nickel to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. There are no assurances that Crawford will be placed into production. Factors that could affect the outcome include, among others: inability to repay the loan or comply with the covenants set out in the loan agreement; the actual results of development activities; project delays; inability to raise the funds necessary to complete development; general business, economic, competitive, political and social uncertainties; future prices of metals or project costs could differ substantially and make any commercialization uneconomic; availability of alternative nickel sources or substitutes; actual nickel recovery; conclusions of economic evaluations; changes in applicable laws; changes in project parameters as plans continue to be refined; accidents, labour disputes, the availability and productivity of skilled labour and other risks of the mining industry; political instability, terrorism, insurrection or war; delays in obtaining governmental approvals, necessary permitting or in the completion of development or construction activities; mineral resource estimates and economic studies relating to Crawford could prove to be inaccurate for any reason whatsoever; and even if Crawford goes into production, there is no assurance that operations will be profitable. Although Canada Nickel has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and Canada Nickel disclaims any obligation to update any forward looking forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

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