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To: LoneClone who wrote (164668)

4/5/2022 5:40:17 PM

From: LoneClone

Read Replies (1) | Respond to of 192788

Canada Nickel Completes Current Phase of Crawford Drilling, Announces Highest Grade Interval to Date

ca.finance.yahoo.com

Mon, April 4, 2022, 4:00 a.m.·11 min read

Highlights

Best Crawford high-grade interval to date; core length of 64.5 metres of 0.71% nickel from 472.5 metres including 6 metres of 1.04% nickel from East Zone High Grade Core

Main Zone mineralization successfully drilled to a depth of 1 kilometre

East Zone mineralization successfully infilled and extended by a further 33% to strike length of 2.8 kilometres

PGM Zone continues to expand – 1.4 g/t PGM over 11.4 metres core length including 2.5 g/t PGM over 3 metres core length

TORONTO, April 4, 2022 /CNW/ - Canada Nickel Company Inc. ("Canada Nickel" or the "Company") (TSXV: CNC) (OTCQX: CNIKF) announced today it had completed its current phase of drilling at the Company's flagship Crawford Nickel Sulphide Project and is reporting assay results from 33 drill holes from the Crawford drilling program including additional assay results from the previously announced East Zone High Grade Core discovery. A further 37 holes have been drilled at Crawford with assays pending.

Mark Selby, Chair and Chief Executive Officer said, "We are very excited to reach this key milestone of completing this phase of infill drilling at Crawford to support the feasibility study. The Crawford drilling program continued to deliver strong results, with this phase yielding the highest-grade interval to date, a 33% increase in strike length of East Zone mineralization to 2.8 kilometres, and further testing of Main Zone at depth to more than one kilometre. With more than 200 holes now completed - more than three times the drilling utilized in the Preliminary Economic Analysis ("PEA") – we are well-positioned to deliver a resource increase by mid-year to support the feasibility study expected by the end of this year."

Crawford East Zone

The East Zone was originally defined as two separate zones due to the limited amount of drilling included in the May 2021 PEA. Since then, Canada Nickel has drilled 38 more holes, 12 of which are summarized in this press release. Assays are still outstanding in the remaining 26 holes. The East Zone is now defined as a single continuous ultramafic unit mineralized over its strike length of 2.8 kilometres. It averages 200 metres in thickness and has been drilled to a vertical depth to as much as 730 metres and remains open at depth. The East Zone Higher Grade Core was successfully intercepted in multiple holes designed to better define its extent. Hole CR21-165A was mineralized across its entire 690 metres length including a 409.5 metre interval of 0.34% nickel (42 metre true width) and 111 metre interval of 0.40% nickel (11.6 metres true width). Hole CR21-153 was mineralized over entire core length grading 0.30% nickel over 584 metres including 0.45% nickel over 174 metres, 0.71% nickel over 64.5 metres, and 1.04% nickel over 6 metres. Holes CR21-136, CR21-149, CR21-156 and CR21-165 also successfully intercepted Higher Grade Core.

Figure 1: Plan View of East Zone - Drill Results Overlain on Total Field Magnetic Intensity, Crawford Nickel Sulphide Project, Ontario.

Figure 1 Plan View of East Zone - Drill Results Overlain on Total Field Magnetic Intensity, Crawford Nickel.png (CNW Group/Canada Nickel Company Inc.)

Table 1: East Zone Infill Drilling Results, Crawford Nickel Sulphide Project, Ontario.

Hole ID	From	To	Length	Est. True	Ni	Co	Pd	Pt	Cr	Fe	S
	(m)	(m)	(m)	Width (m)	(%)	(%)	(g/t)	(g/t)	(%)	(%)	(%)
CR21-119	39.7	479.0	439.3	219.7	0.24	0.012	0.014	0.010	0.58	6.27	0.04
including	221.0	434.0	213.0	106.5	0.27	0.012	0.003	0.003	0.61	5.60	0.03
CR21-123	22.0	507.0	485.0	242.5	0.20	0.012	0.008	0.007	0.62	6.44	0.02
including	261.5	430.5	169.0	84.5	0.26	0.012	0.006	0.005	0.66	5.74	0.02
CR21-125	72.0	375.6	303.6	151.8	0.22	0.012	0.008	0.006	0.59	6.43	0.05
including	232.5	348.0	115.5	57.8	0.27	0.012	0.011	0.006	0.68	5.46	0.06
CR21-127	87.0	300.0	213.0	136.9	0.21	0.013	0.007	0.006	0.57	6.54	0.06
including	177.0	259.5	82.5	53.0	0.25	0.012	0.004	0.005	0.64	5.57	0.06
CR21-131	39.0	346.5	307.5	130.0	0.20	0.012	0.010	0.007	0.56	6.71	0.08
including	198.0	295.5	97.5	41.2	0.26	0.012	0.018	0.010	0.61	5.81	0.07
CR21-133	99.0	285.0	186.0	93.0	0.23	0.012	0.006	0.006	0.64	6.30	0.06
including	180.0	271.5	91.5	45.8	0.26	0.012	0.007	0.007	0.64	5.68	0.07
CR21-136	37.5	327.0	289.5	166.1	0.24	0.012	0.034	0.013	0.62	6.25	0.07
including	129.0	285.0	156.0	89.5	0.28	0.012	0.056	0.019	0.66	5.76	0.08
including	235.5	271.5	36.0	20.6	0.34	0.013	0.230	0.065	0.71	5.90	0.11
including	241.5	255.0	13.5	7.7	0.40	0.011	0.560	0.113	0.72	5.64	0.10
CR21-138	47.5	336.0	288.5	144.3	0.22	0.012	0.010	0.008	0.57	6.08	0.07
including	163.5	268.5	105.0	52.5	0.27	0.012	0.007	0.006	0.57	5.19	0.08
CR21-143	48.6	499.2	450.6	289.6	0.24	0.012	0.003	0.006	0.64	5.94	0.03
including	48.6	334.0	285.4	183.5	0.26	0.012	0.003	0.005	0.61	5.75	0.03
CR21-147	29.2	315.0	285.9	183.7	0.22	0.012	0.005	0.005	0.65	6.30	0.05
including	35.0	134.0	99.0	63.6	0.27	0.012	0.003	0.005	0.71	5.56	0.05
CR21-149	31.1	472.6	441.5	23.1	0.26	0.013	0.019	0.012	0.68	6.22	0.12
including	257.5	353.5	96.0	5.0	0.31	0.014	0.053	0.024	0.75	5.93	0.12
including	313.0	344.5	31.5	1.6	0.37	0.017	0.143	0.049	0.70	6.06	0.19
and	452.5	472.6	20.1	1.1	0.34	0.020	0.055	0.024	0.60	6.41	0.34
CR21-153	85.0	669.0	584.0	40.7	0.30	0.013	0.020	0.012	0.63	6.04	0.12
including	397.5	571.5	174.0	12.1	0.45	0.015	0.057	0.026	0.68	5.95	0.29
including	472.5	537.0	64.5	4.5	0.71	0.016	0.115	0.035	0.64	5.53	0.46
including	492.0	498.0	6.0	0.4	1.04	0.018	0.092	0.033	0.63	5.24	0.82
CR21-156	84.0	657.8	573.8	40.0	0.28	0.013	0.018	0.010	0.68	6.19	0.16
including	394.0	601.0	207.0	14.4	0.35	0.015	0.039	0.019	0.74	6.28	0.37
including	443.5	550.0	106.5	7.4	0.38	0.016	0.062	0.026	0.76	6.67	0.51
CR21-160	30.7	549.0	518.3	177.3	0.24	0.013	0.007	0.004	0.63	6.10	0.03
including	304.5	475.5	171.0	58.5	0.27	0.012	0.003	0.003	0.65	5.75	0.02
CR21-165	36.2	555.0	518.8	40.7	0.29	0.013	0.038	0.018	0.70	5.89	0.11
including	270.0	555.0	285.0	22.4	0.33	0.014	0.062	0.030	0.71	5.79	0.19
including	270.0	308.0	38.0	3.0	0.37	0.011	0.078	0.083	0.63	5.24	0.10
and	472.5	525.0	52.5	4.1	0.42	0.019	0.060	0.023	0.72	6.65	0.36
CR21-165A	45.0	735.0	690.0	72.1	0.30	0.014	0.042	0.019	0.70	6.09	0.19
including	270.0	679.5	409.5	42.8	0.34	0.015	0.065	0.028	0.71	6.12	0.29
including	468.0	579.0	111.0	11.6	0.40	0.018	0.046	0.018	0.73	6.85	0.56
including	469.5	501.0	31.5	3.3	0.51	0.017	0.044	0.019	0.73	6.17	0.39

Crawford Main and West Zone

Drilling within the Main and West Zone consisted of infill drilling to upgrade the resource and expand the resource northwest of the existing Main Zone Resource Estimate. A total of 39 holes were completed with 21 holes summarized in this release and 18 holes with assays pending.

Drilling westward from the Main Zone has extended the mineralization continuously from the existing resource for a distance of 850 metres to the northwest where it remains open along strike and at depth. This mineralization includes a higher-grade zone as intersected in hole CR21-144 (core length of 69.5 metres of 0.43% Ni starting at 152 m). Four hundred metres farther to the north, mineralized ultramafic continues to be found such as CR21-130 which intersected 0.24% nickel over core length of 525 metres starting at 32.8 metres including a higher-grade zone of 0.34% nickel over 33.0 metres starting at 322.5 m. Hole CR22-198 was drilled to a core length of 1.04 kilometres and was continuously mineralized below 39 metres of overburden.

Figure 2: Plan View of Main Zone - Drill Results Overlain on Total Field Magnetic Intensity, Crawford Nickel Sulphide Project, Ontario.

Figure 2 Plan View of Main Zone - Drill Results Overlain on Total Field Magnetic Intensity, Crawford Nickel.png (CNW Group/Canada Nickel Company Inc.)
Table 2: Main and West Zone Infill Drilling Results, Crawford Nickel Sulphide Project, Ontario.

Hole ID	From	To	Length	Est. True	Ni	Co	Pd	Pt	Cr	Fe	S
	(m)	(m)	(m)	Width (m)	(%)	(%)	(g/t)	(g/t)	(%)	(%)	(%)
CR21-110	57.0	426.0	369.0	237.2	0.23	0.013	0.007	0.011	0.58	7.39	0.02
including	57.0	160.5	103.5	66.5	0.29	0.012	0.018	0.024	0.48	7.21	0.03
CR21-115	88.5	450.0	361.5	232.4	0.21	0.012	0.003	0.005	0.62	7.23	0.07
CR21-120	111.0	447.0	336.0	216.0	0.23	0.012	0.003	0.004	0.55	6.99	0.05
including	255.5	417.5	162.0	104.1	0.27	0.012	0.003	0.004	0.68	6.80	0.04
CR21-122	42.3	501.0	458.7	294.8	0.24	0.012	0.005	0.004	0.54	6.64	0.02
including	231.0	501.0	270.0	173.6	0.28	0.012	0.006	0.005	0.63	6.15	0.02
CR21-126A	39.0	546.0	507.0	290.8	0.24	0.013	0.007	0.006	0.54	7.03	0.04
including	186.0	510.0	324.0	185.8	0.27	0.012	0.006	0.005	0.58	6.94	0.04
CR21-128	40.9	549.0	508.1	326.6	0.24	0.013	0.017	0.012	0.59	7.27	0.05
including	171.5	312.5	141.0	90.6	0.26	0.012	0.005	0.004	0.64	6.99	0.05
CR21-130	32.8	558.0	525.2	337.6	0.24	0.013	0.016	0.010	0.58	7.04	0.06
including	322.5	355.5	33.0	21.2	0.34	0.016	0.035	0.019	0.55	7.64	0.15
CR21-132	67.0	489.0	422.0	271.3	0.24	0.014	0.016	0.015	0.60	7.38	0.02
including	67.0	169.5	102.5	65.9	0.29	0.013	0.052	0.033	0.59	6.96	0.07
including	129.0	165.0	36.0	23.1	0.36	0.013	0.125	0.077	0.40	6.97	0.12
including	135.0	151.5	16.5	10.6	0.43	0.013	0.104	0.018	0.47	7.16	0.15
CR21-135	67.0	564.0	497.0	319.5	0.24	0.012	0.012	0.011