Canada Nickel closes upsized flow-through private placement

Canada NewsWire /THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./ TORONTO , June 10, 2026 /CNW/ - Canada Nickel Company Inc.  (" Canada Nickel " or the " Company ") (TSXV: CNC) (OTCQX: CNIKF) is pleased to announce that it has completed its previously announced non-brokered private placement offering (the " Offering "), which was  upsized due to strong investor demand to consist of 3,000,000 common shares of the Company that will qualify as "flow-through shares" (as defined in subsection 66(15) of the Income Tax Act (Canada) (the " Tax Act ")) (the " Flow-Through Shares "), at a price of C$2.07 per Flow-Through Share for aggregate gross proceeds to the Company of C$6,210,000. The gross proceeds from the Offering will be used by the Company to incur (or be deemed to incur) eligible resource exploration expenses which will qualify as (i) "Canadian exploration expenses" (as defined in the Tax Act), (ii) either (a) "flow-through critical mineral mining expenditures" (as defined in subsection 127(9) of the Tax Act) (which expenditures shall comprise at least 90.34% of such gross proceeds) or (b) "flow-through mining expenditures" (as defined in subsection 127(9) of the Tax Act) (which expenditures shall comprise at most 9.66% of such gross proceeds), and (iii) either (a) "eligible Ontario critical mineral exploration expenditures" within the meaning of subsection 103(4.1) of the Taxation Act, 2007 (Ontario) or (b) "eligible Ontario exploration expenditures" within the meaning of subsection 103(4) of the Taxation Act, 2007 (Ontario) (collectively, the " Qualifying Expenditures "). Qualifying Expenditures in an aggregate amount not less than the gross proceeds raised from the issue of the Flow-Through Shares will be incurred (or deemed to be incurred) by the Company on or before December 31, 2027, and will be renounced by the Company to the initial purchasers of the Flow-Through Shares with an effective date no later than December 31, 2026.

The Flow-Through Shares are subject to a hold period expiring four months and one day from the issue date in accordance with applicable Canadian securities laws. The Offering is subject to the final approval of the TSX Venture Exchange. Auramet Loan Facility Update In connection with the previously announced extension of the maturity date of the Company's US$32 million loan facility with Auramet International, Inc., the Company wishes to clarify that the interest rate under the facility has been amended to 15% per annum.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act "), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. About Canada Nickel 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.