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Core Nickel Announces Assay Results from Winter Drill Program at Halfway Lake and Provides Update on the Mel Deposit

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Core Nickel Announces Assay Results from Winter Drill Program at Halfway Lake and Provides Update on the Mel Deposit

Highlights: Three drillholes along conductive trend HL-04 have returned nickel-bearing sulphide mineralization with grades up to 0.8% Ni over 0.7 m. Nickel mineralization is intersected within massive sulphides indicating the system is capable of concentrating nickel in massive sulphide lenses. Ultramafic-hosted nickel-bearing sulphide mineralization up to 0.65% Ni over 1.1 m indicates a fertile nickel source along conductive trend HL-04. Core Nickel has completed a detailed data validation and 3D geological model of the Mel deposit and received recommendations from Understood Mineral Resources Ltd. to support a modern NI 43-101 resource estimate, including twinning, resampling historical core, and collecting density measurements. Saskatoon, Saskatchewan--(Newsfile Corp. - June 12, 2025) - Core Nickel Corp. (TSXV: CNCO) ("Core Nickel" or the "Company") is pleased to report nickel-bearing massive sulphide lenses and ultramafic source rocks along conductive trend HL-04 from its winter 2025 Drill Program (the "Program") at the 100%-owned Halfway Lake Project (the "Project"), located in the Thompson Nickel Belt, Manitoba. The Program comprised a total of 3,585.5 metres ("m") in 12 diamond drillholes as outlined in Table 1 and illustrated in Figure 1 as previously announced on April 28, 2025. The Project is strategically located within kilometres of advanced infrastructure such as the Bucko Mill, heavy rail and highways, and access to high-capacity, nearly 100% clean, hydro-electric power. Misty Urbatsch, Chief Executive Officer, President, and Director of Core Nickel, commented, "Intersecting anomalous nickel mineralization in all three drillholes along the HL-04 trend is an exciting step forward for Core Nickel. The presence of nickel-bearing massive sulphides confirms the system's ability to concentrate nickel, while ultramafic-hosted sulphide mineralization highlights the fertility of this emerging system. At the same time, we're making real strides toward bringing the Mel deposit into a modern resource by systematically resampling historical drill core, digitizing and verifying historical data, and building a modern 3D geological model of the deposit. The next step is getting on the ground and executing the program recommended by Understood Mineral Resources Ltd. to deliver a NI 43-101 compliant resource for Mel." Figure 1. Halfway Lake Winter 2025 Drillhole and Conductive Trend Location Map To view an enhanced version of this graphic, please visit: Table 1. Winter 2025 Diamond Drillhole Parameters To view an enhanced version of this graphic, please visit: Conductive Trend HL-04 Recent drilling along conductive trend HL-04 (Figure 2) has confirmed nickel-bearing massive sulphide mineralization hosted within granitic pegmatite and nickel-bearing ultramafic source rocks as outlined in Table 2. Drillhole HFW-25-007 targeted a strong electromagnetic (EM) response along the HL-04 conductive trend, located on the edge of a magnetic anomaly. A massive sulphide breccia at 44.3 m returned 0.17% Ni over 30 cm indicating anomalous nickel enrichment. Massive sulphides from 72.8 to 73.5 m returned 0.80% Ni over 70 cm confirming nickel mineralization within the massive sulphide lens (Figure 3). Drillhole HFW-25-010 targeted ~35 m in front of HFW-25-007 and is interpreted to have intersected the lower portion of the pyrrhotite-rich sulphide zone encountered in HFW-25-007. Drillhole HFW-25-010 intersected 0.17% Ni over 1.0 m in semi-massive sulphides at 39.2 m indicating anomalous nickel enrichment. Drillhole HFW-25-015, located 50 m along strike to the southwest of HFW-25-007, intersected 0.26% Ni over 7.7 m, including 0.65% Ni over 1.1 m within sulphide-bearing ultramafic rocks from the base of the overburden at 37.4 m to 45.1 m. This confirms the presence of nickel-enriched ultramafic source rocks along conductive trend HL-04. Semi-massive and massive sulphides hosted within granitic pegmatite from 72.2 to 84.1 m returned 0.12% Ni over 11.9 m, including 0.48% Ni over 0.5 m at 75.3 m, and 0.45% Ni over 1.0 m at 77.9 m confirming nickel mineralization with the sulphide lenses. Collectively, these holes demonstrate an enriched nickel-sulphide system that is capable of concentrating nickel in massive sulphide lenses. Table 2. Drillhole Assay Summary Hole ID Lithology From (m) To (m) Interval (m)* Ni % Cu % Co % HFW-24-007Massive Sulphides 44.3 44.6 0.3 0.17 0.05 0.01Massive Sulphides with Pegmatite 72.8 82.6 9.8 0.15 0.03 0.0 Includes Massive Sulphides 72.8 73.5 0.7 0.80 0.15 0.02 Includes Massive Sulphides 76.1 76.4 0.4 0.47 0.06 0.01 HFW-25-010Semi-massive Sulphides 39.2 40.2 1.0 0.17 0.07 0.01 HFW-25-015Ultramafic with Pegmatite 37.4 45.1 7.7 0.26 0.01 0.01 Includes Ultramafic 43.0 44.1 1.1 0.65 0.06 0.02Sulphidic Metasediment 53.5 54.6 1.1 0.12 0.03 0.01Massive Sulphide with Pegmatite 72.2 84.1 11.9 0.12 0.03 0.0 Includes Massive Sulphide with Pegmatite 75.3 75.8 0.5 0.48 0.08 0.01 Includes Massive Sulphide with Pegmatite 77.9 78.9 1 0.45 0.10 0.01 * Interval is not true thickness. Insufficient data currently to determine true thickness. Assay results have only been reported for nickel values >0.1% Ni in metasedimentary rocks and >0.3% Ni in ultramafic rocks. Figure 2. Halfway Lake - Conductive Trend HL-04 Drillhole Location MapTo view an enhanced version of this graphic, please visit: Figure 3. Top: Massive sulphides in HFW-25-007 returned 0.80% Ni over 70 cm from 72.8 to 73.5 mBottom: Close-up of massive sulphides at 73.3 m in HFW-25-007. To view an enhanced version of this graphic, please visit: Geochemical Sampling Procedures All drill core samples were shipped to Saskatchewan Research Council Geoanalytical Laboratories (SRC) in Saskatoon, Saskatchewan in secure containment for preparation, processing, and ICP-OES analysis for major and minor elements and ICP-MS analysis for trace elements using total 4-acid digestion (HF:HNO3:HCl:HClO4). Any samples returning greater than 5,000 ppm Ni, Cu, or Co were then analyzed using a base metal assay (ICP3 Assay) for Ni, Cu, and Co, where an aliquot of sample pulp is digested in HCl:HNO3 and the digested volume is then made up with deionized water for analysis by inductively coupled plasma optical emission spectroscopy (ICP-OES). The detection limit for Ni, Cu, and Co using this method is 0.001 wt%. Assay samples comprise 0.1 - 4.4 metre, generally 1.0 metre, continuous ½ NQ core samples or ¼ NQ core for duplicates over the sulfide mineralized intervals. The SRC is an ISO/IEC 17025/2005 and Standards Council of Canada certified analytical laboratory. Blanks, standard reference materials, and duplicates are inserted into the sample stream at regular intervals by Core Nickel and the SRC in accordance with Core Nickel's quality assurance/quality control (QA/QC) procedures. Geochemical assay data are subject to verification procedures by qualified persons employed by Core Nickel prior to disclosure. All reported depths and intervals are drillhole depths and intervals, unless otherwise noted, and do not represent true thicknesses, which have yet to be determined. Mel Deposit Update To support the development of a modern NI 43-101 compliant mineral resource estimate for the Mel deposit, Understood Mineral Resources Ltd. has recommended that Core Nickel twin five spatially representative historical drill holes, resample five to ten holes from different historical programs-where core is accessible-that span a range of nickel grades and are spatially distributed across the deposit, and collect representative density measurements. Core Nickel has been diligently working to compile, verify, and clean up the historical dataset to support construction of a modern 3D geological model. These efforts aim to validate and strengthen the existing data and underpin the development of a robust and modern geological interpretation for the project. About Core Nickel Core Nickel Corp. is a junior nickel exploration company that controls 100% of five projects in the Thompson Nickel Belt (TNB), a prolific nickel district located in Northern Manitoba, Canada (Figure 7). The five projects consist of approximately 27,000 hectares of land that is proximal to existing infrastructure, including highways, railways, major hydroelectric transmission lines, and operating mills. Core Nickel has a large contiguous land package in the northern part of the TNB, situated approximately 15-20 km from the City of Thompson. Core Nickel's northern TNB land package consists of three projects: Mel, Hunter, and Odei River. The Mel project encompasses the Mel deposit, which is characterized by a historical mineral resource consisting of an indicated resource of 4,279,000 tons grading 0.875% Ni, plus an inferred resource of 1,010,000 tons grading 0.839% Ni, at a cut-off of 0.5% Ni1. The target stratigraphy (Pipe Formation) that hosts the Mel deposit, and other deposits in the Thompson Nickel Belt, extend onto the Hunter and Odei River projects and drillhole intersections into the target stratigraphy on the Hunter project have successfully intersected anomalous nickel. The Company also holds two projects in the central TNB near the community of Wabowden: Halfway Lake and Resting Lake. Both projects host the target Pipe Formation associated with known elevated nickel mineralization and are proximal to existing nickel deposits, mills, and other infrastructure. Figure 4. Core Nickel Project Location Map To view an enhanced version of this graphic, please visit: The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects for this news release is Caitlin Glew, P. Geo., Vice-President Exploration for Core Nickel Corp., who has reviewed and approved its contents. References 1 "Technical Report on the Mel Deposit, Northern Manitoba" prepared for Victory Nickel Inc, Shane Naccashian (P. Geo.) of Wardrop Engineering Inc., March 9, 2007 Mel Historical Mineral Resource Core Nickel Corporation is treating the 2007 Mineral Resource Estimate (MRE) prepared for Victory Nickel Inc. by Shane Naccashian (P. Geo.) of Wardrop Engineering Inc. as a "historical mineral resource" under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and the reader is cautioned not to treat it, or any part of it, as a current mineral resource. Core Nickel has not done sufficient work to classify the historical estimate as a current mineral resource. The historical MRE summarized above has been included simply to demonstrate the mineral potential of the Mel deposit and the Mel project. Core Nickel considers the 2007 MRE to be relevant to the further development of the project; however, is not treating the historical estimate as a current mineral resource. The historical MRE was calculated in accordance with NI 43-101 and CIM standards at the time of publication and predates the current CIM Definition Standards for Mineral Resources and Mineral Reserves (May, 2014) and CIM Estimation of Mineral Resources & Mineral Reserves Best Practices Guidelines (November, 2019). To upgrade or verify the 2007 historical estimate as current, Core Nickel will need to complete a thorough review of all the 2007 historical MRE information and drill data, along with the incorporation of subsequent exploration work and results, which includes some drilling around the edges of the historical MRE subsequent to the publication of the resource. Additionally, a full review of the economic parameters utilized to determine current Reasonable Prospectus for Eventual Economic Extraction (RPEEE) would be required in order to produce a current MRE for the Property. Any future mineral resource will need to evaluate the open pit and/or underground potential taking into consideration the current cost and pricing conditions or constraints, along with continuity of the resource blocks. Technical Disclosure The historical results contained within this news release have been captured from Manitoba Integrated Mining and Quarrying System ("iMaQs") as available and may be incomplete or subject to minor location inaccuracies. Management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by a Qualified Person but form a basis for ongoing work on the subject projects. On behalf of the Board of Directors"Misty Urbatsch"Misty UrbatschCEO, President and DirectorCore Nickel Corp. Contacts: Misty Urbatsch, CEO and President General Enquiry Tel: 306-668-6927 Tel: 306-668-6927 Email: murbatsch@ Email: info@ Also find us online: Neither 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. Forward-looking information All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events. To view the source version of this press release, please visit

Solution Financial Reports Q2 2025 Financial Results

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Solution Financial Reports Q2 2025 Financial Results

Vancouver, British Columbia--(Newsfile Corp. - June 12, 2025) - Solution Financial Inc. (TSX: SFI) (the "Company"), a leading provider of luxury and ultra luxury asset leasing in Canada, today announced its financial results for the second quarter ending April 30, 2025. Earnings Highlights for the Quarter: Net income for the quarter was $5,668 compared to a net loss of $29,046 in the comparative quarter in 2024. Adjusted net income(1) increased to $58,192 compared to Adjusted net income of $28,856 in the comparative quarter. Revenue increased to $2,710,162 compared to $2,233,770 in the comparative quarter. Total leasing portfolio remained relatively unchanged at $30,123,209 during the quarter. Operational Highlights for the Quarter: The Company returned to modest profitability Enhanced local program compliance materials Further streamlining of client quoting platform and automation "The second quarter was an encouraging step forward for us," said Bryan Pang, CEO of Solution Financial Inc. "We returned to profitability and posted over 20% year-over-year revenue growth, reflecting that demand for our luxury leasing solutions remains strong despite ongoing economic uncertainty. We also made meaningful progress on key initiatives—upgrading our quoting platform, expanding automation, and bolstering compliance frameworks across all our active regions. These operational improvements are supporting greater scale and efficiency across our business. As we look ahead, we remain focused on disciplined execution and long-term value creation through technology investment, risk-adjusted growth, and strategic relationship development." Financial Results Solution is reporting net income of $5,668 for the quarter ending April 30, 2025. This compares to a net loss of $29,046 per share for the quarter ending April 30, 2024. Adjusted net income, which is more reflective of actual cash earnings, for the quarter ending April 30, 2025, was $58,192(1) or $0.0007 per share compared to $28,856 or $0.0003 per share for the quarter ending April 30, 2024. Adjusted net income excludes the non-cash accretion expense related to right of use assets of $30,330, income tax provision of $7,350, amortization of $26,485, and provision for credit losses of $3,059. Lease Portfolio At April 30, 2025, Solution had 355 vehicles in its lease portfolio, a net increase of 3 vehicles over the quarter to bring the total lease portfolio value to $30.1 million. At April 30, 2025 the average remaining lease term for the portfolio was 1.95 years, weighted by net book value for each vehicle. At April 30, 2025, Solutions' 355 leases were generating annualized gross rental and lease cash flows of approximately $7.8 million. About Solution Solution Financial commenced operations in 2004 and specializes in sourcing and leasing luxury and exotic vehicles, yachts and other high value assets. Solution works with a select group of luxury automotive and marine dealerships providing lending solutions to clients who prefer more flexible leasing options than those traditionally offered by banks and other lease providers. Typical customers include new immigrants, business owners and international students who tend to upgrade their vehicles more frequently than traditional lease agreements allow. Solution Financial provides a unique leasing experience whereby it partners with its clients to help source limited edition and difficult to acquire vehicles as well as providing white glove services to clients for insuring, maintaining, upgrading, and reselling their vehicles. Note 1- Non-IFRS Financial Metrics Solution provides all financial information in accordance with International Financial Reporting Standards ("IFRS"). To supplement our consolidated financial statements presented in accordance with IFRS, we are also providing with this press release, certain non-IFRS financial measures, including Adjusted Net Income. In calculating these non-IFRS financial measures, we have excluded certain transactions that are not necessarily indicative of our ongoing operations or do not impact cash flows. These measures are not recognized measures under IFRS and do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other issuers. These measures should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS. Cautionary Statement Regarding Forward-Looking Statements This press release contains "forward-looking information" as defined under applicable Canadian securities laws. This information includes, but is not limited to, statements concerning our objectives, our strategies to achieve those objectives, as well as statements made with respect to management's beliefs, plans, estimates, projections and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Forward-looking information generally can be identified by the use of forward-looking terminology such as "outlook", "objective", "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "should", "plans" or "continue", or similar expressions suggesting future outcomes or events. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Although forward-looking information contained in this press release is based upon what management believes are reasonable assumptions, there can be no assurance that actual results will be consistent with this forward-looking information. Certain statements included in this press release may be considered a "financial outlook" for purposes of applicable Canadian securities laws, and as such the financial outlook may not be appropriate for purposes other than this press release. The forward-looking information contained in this press release is made as of the date of this press release and should not be relied upon as representing Solution's views as of any date subsequent to the date of this press release. Except as required by applicable law, management and Solution's Board of Directors undertake no obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise. For further information, please contact Sean Hodgins at (778) 318-1514. ON BEHALF OF THE BOARD (signed) "Bryan Pang"Bryan PangPresident, CEO and Director Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

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Core Nickel Announces Assay Results from Winter Drill Program at Halfway Lake and Provides Update on the Mel Deposit

Highlights: Three drillholes along conductive trend HL-04 have returned nickel-bearing sulphide mineralization with grades up to 0.8% Ni over 0.7 m. Nickel mineralization is intersected within massive sulphides indicating the system is capable of concentrating nickel in massive sulphide lenses. Ultramafic-hosted nickel-bearing sulphide mineralization up to 0.65% Ni over 1.1 m indicates a fertile nickel source along conductive trend HL-04. Core Nickel has completed a detailed data validation and 3D geological model of the Mel deposit and received recommendations from Understood Mineral Resources Ltd. to support a modern NI 43-101 resource estimate, including twinning, resampling historical core, and collecting density measurements. Saskatoon, Saskatchewan--(Newsfile Corp. - June 12, 2025) - Core Nickel Corp. (TSXV: CNCO) ("Core Nickel" or the "Company") is pleased to report nickel-bearing massive sulphide lenses and ultramafic source rocks along conductive trend HL-04 from its winter 2025 Drill Program (the "Program") at the 100%-owned Halfway Lake Project (the "Project"), located in the Thompson Nickel Belt, Manitoba. The Program comprised a total of 3,585.5 metres ("m") in 12 diamond drillholes as outlined in Table 1 and illustrated in Figure 1 as previously announced on April 28, 2025. The Project is strategically located within kilometres of advanced infrastructure such as the Bucko Mill, heavy rail and highways, and access to high-capacity, nearly 100% clean, hydro-electric power. Misty Urbatsch, Chief Executive Officer, President, and Director of Core Nickel, commented, "Intersecting anomalous nickel mineralization in all three drillholes along the HL-04 trend is an exciting step forward for Core Nickel. The presence of nickel-bearing massive sulphides confirms the system's ability to concentrate nickel, while ultramafic-hosted sulphide mineralization highlights the fertility of this emerging system. At the same time, we're making real strides toward bringing the Mel deposit into a modern resource by systematically resampling historical drill core, digitizing and verifying historical data, and building a modern 3D geological model of the deposit. The next step is getting on the ground and executing the program recommended by Understood Mineral Resources Ltd. to deliver a NI 43-101 compliant resource for Mel." Figure 1. Halfway Lake Winter 2025 Drillhole and Conductive Trend Location Map To view an enhanced version of this graphic, please visit: Table 1. Winter 2025 Diamond Drillhole Parameters To view an enhanced version of this graphic, please visit: Conductive Trend HL-04 Recent drilling along conductive trend HL-04 (Figure 2) has confirmed nickel-bearing massive sulphide mineralization hosted within granitic pegmatite and nickel-bearing ultramafic source rocks as outlined in Table 2. Drillhole HFW-25-007 targeted a strong electromagnetic (EM) response along the HL-04 conductive trend, located on the edge of a magnetic anomaly. A massive sulphide breccia at 44.3 m returned 0.17% Ni over 30 cm indicating anomalous nickel enrichment. Massive sulphides from 72.8 to 73.5 m returned 0.80% Ni over 70 cm confirming nickel mineralization within the massive sulphide lens (Figure 3). Drillhole HFW-25-010 targeted ~35 m in front of HFW-25-007 and is interpreted to have intersected the lower portion of the pyrrhotite-rich sulphide zone encountered in HFW-25-007. Drillhole HFW-25-010 intersected 0.17% Ni over 1.0 m in semi-massive sulphides at 39.2 m indicating anomalous nickel enrichment. Drillhole HFW-25-015, located 50 m along strike to the southwest of HFW-25-007, intersected 0.26% Ni over 7.7 m, including 0.65% Ni over 1.1 m within sulphide-bearing ultramafic rocks from the base of the overburden at 37.4 m to 45.1 m. This confirms the presence of nickel-enriched ultramafic source rocks along conductive trend HL-04. Semi-massive and massive sulphides hosted within granitic pegmatite from 72.2 to 84.1 m returned 0.12% Ni over 11.9 m, including 0.48% Ni over 0.5 m at 75.3 m, and 0.45% Ni over 1.0 m at 77.9 m confirming nickel mineralization with the sulphide lenses. Collectively, these holes demonstrate an enriched nickel-sulphide system that is capable of concentrating nickel in massive sulphide lenses. Table 2. Drillhole Assay Summary Hole ID Lithology From (m) To (m) Interval (m)* Ni % Cu % Co % HFW-24-007Massive Sulphides 44.3 44.6 0.3 0.17 0.05 0.01Massive Sulphides with Pegmatite 72.8 82.6 9.8 0.15 0.03 0.0 Includes Massive Sulphides 72.8 73.5 0.7 0.80 0.15 0.02 Includes Massive Sulphides 76.1 76.4 0.4 0.47 0.06 0.01 HFW-25-010Semi-massive Sulphides 39.2 40.2 1.0 0.17 0.07 0.01 HFW-25-015Ultramafic with Pegmatite 37.4 45.1 7.7 0.26 0.01 0.01 Includes Ultramafic 43.0 44.1 1.1 0.65 0.06 0.02Sulphidic Metasediment 53.5 54.6 1.1 0.12 0.03 0.01Massive Sulphide with Pegmatite 72.2 84.1 11.9 0.12 0.03 0.0 Includes Massive Sulphide with Pegmatite 75.3 75.8 0.5 0.48 0.08 0.01 Includes Massive Sulphide with Pegmatite 77.9 78.9 1 0.45 0.10 0.01 * Interval is not true thickness. Insufficient data currently to determine true thickness. Assay results have only been reported for nickel values >0.1% Ni in metasedimentary rocks and >0.3% Ni in ultramafic rocks. Figure 2. Halfway Lake - Conductive Trend HL-04 Drillhole Location MapTo view an enhanced version of this graphic, please visit: Figure 3. Top: Massive sulphides in HFW-25-007 returned 0.80% Ni over 70 cm from 72.8 to 73.5 mBottom: Close-up of massive sulphides at 73.3 m in HFW-25-007. To view an enhanced version of this graphic, please visit: Geochemical Sampling Procedures All drill core samples were shipped to Saskatchewan Research Council Geoanalytical Laboratories (SRC) in Saskatoon, Saskatchewan in secure containment for preparation, processing, and ICP-OES analysis for major and minor elements and ICP-MS analysis for trace elements using total 4-acid digestion (HF:HNO3:HCl:HClO4). Any samples returning greater than 5,000 ppm Ni, Cu, or Co were then analyzed using a base metal assay (ICP3 Assay) for Ni, Cu, and Co, where an aliquot of sample pulp is digested in HCl:HNO3 and the digested volume is then made up with deionized water for analysis by inductively coupled plasma optical emission spectroscopy (ICP-OES). The detection limit for Ni, Cu, and Co using this method is 0.001 wt%. Assay samples comprise 0.1 - 4.4 metre, generally 1.0 metre, continuous ½ NQ core samples or ¼ NQ core for duplicates over the sulfide mineralized intervals. The SRC is an ISO/IEC 17025/2005 and Standards Council of Canada certified analytical laboratory. Blanks, standard reference materials, and duplicates are inserted into the sample stream at regular intervals by Core Nickel and the SRC in accordance with Core Nickel's quality assurance/quality control (QA/QC) procedures. Geochemical assay data are subject to verification procedures by qualified persons employed by Core Nickel prior to disclosure. All reported depths and intervals are drillhole depths and intervals, unless otherwise noted, and do not represent true thicknesses, which have yet to be determined. Mel Deposit Update To support the development of a modern NI 43-101 compliant mineral resource estimate for the Mel deposit, Understood Mineral Resources Ltd. has recommended that Core Nickel twin five spatially representative historical drill holes, resample five to ten holes from different historical programs-where core is accessible-that span a range of nickel grades and are spatially distributed across the deposit, and collect representative density measurements. Core Nickel has been diligently working to compile, verify, and clean up the historical dataset to support construction of a modern 3D geological model. These efforts aim to validate and strengthen the existing data and underpin the development of a robust and modern geological interpretation for the project. About Core Nickel Core Nickel Corp. is a junior nickel exploration company that controls 100% of five projects in the Thompson Nickel Belt (TNB), a prolific nickel district located in Northern Manitoba, Canada (Figure 7). The five projects consist of approximately 27,000 hectares of land that is proximal to existing infrastructure, including highways, railways, major hydroelectric transmission lines, and operating mills. Core Nickel has a large contiguous land package in the northern part of the TNB, situated approximately 15-20 km from the City of Thompson. Core Nickel's northern TNB land package consists of three projects: Mel, Hunter, and Odei River. The Mel project encompasses the Mel deposit, which is characterized by a historical mineral resource consisting of an indicated resource of 4,279,000 tons grading 0.875% Ni, plus an inferred resource of 1,010,000 tons grading 0.839% Ni, at a cut-off of 0.5% Ni1. The target stratigraphy (Pipe Formation) that hosts the Mel deposit, and other deposits in the Thompson Nickel Belt, extend onto the Hunter and Odei River projects and drillhole intersections into the target stratigraphy on the Hunter project have successfully intersected anomalous nickel. The Company also holds two projects in the central TNB near the community of Wabowden: Halfway Lake and Resting Lake. Both projects host the target Pipe Formation associated with known elevated nickel mineralization and are proximal to existing nickel deposits, mills, and other infrastructure. Figure 4. Core Nickel Project Location Map To view an enhanced version of this graphic, please visit: The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects for this news release is Caitlin Glew, P. Geo., Vice-President Exploration for Core Nickel Corp., who has reviewed and approved its contents. References 1 "Technical Report on the Mel Deposit, Northern Manitoba" prepared for Victory Nickel Inc, Shane Naccashian (P. Geo.) of Wardrop Engineering Inc., March 9, 2007 Mel Historical Mineral Resource Core Nickel Corporation is treating the 2007 Mineral Resource Estimate (MRE) prepared for Victory Nickel Inc. by Shane Naccashian (P. Geo.) of Wardrop Engineering Inc. as a "historical mineral resource" under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and the reader is cautioned not to treat it, or any part of it, as a current mineral resource. Core Nickel has not done sufficient work to classify the historical estimate as a current mineral resource. The historical MRE summarized above has been included simply to demonstrate the mineral potential of the Mel deposit and the Mel project. Core Nickel considers the 2007 MRE to be relevant to the further development of the project; however, is not treating the historical estimate as a current mineral resource. The historical MRE was calculated in accordance with NI 43-101 and CIM standards at the time of publication and predates the current CIM Definition Standards for Mineral Resources and Mineral Reserves (May, 2014) and CIM Estimation of Mineral Resources & Mineral Reserves Best Practices Guidelines (November, 2019). To upgrade or verify the 2007 historical estimate as current, Core Nickel will need to complete a thorough review of all the 2007 historical MRE information and drill data, along with the incorporation of subsequent exploration work and results, which includes some drilling around the edges of the historical MRE subsequent to the publication of the resource. Additionally, a full review of the economic parameters utilized to determine current Reasonable Prospectus for Eventual Economic Extraction (RPEEE) would be required in order to produce a current MRE for the Property. Any future mineral resource will need to evaluate the open pit and/or underground potential taking into consideration the current cost and pricing conditions or constraints, along with continuity of the resource blocks. Technical Disclosure The historical results contained within this news release have been captured from Manitoba Integrated Mining and Quarrying System ("iMaQs") as available and may be incomplete or subject to minor location inaccuracies. Management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by a Qualified Person but form a basis for ongoing work on the subject projects. On behalf of the Board of Directors"Misty Urbatsch"Misty UrbatschCEO, President and DirectorCore Nickel Corp. Contacts: Misty Urbatsch, CEO and President General Enquiry Tel: 306-668-6927 Tel: 306-668-6927 Email: murbatsch@ Email: info@ Also find us online: Neither 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. Forward-looking information All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events. To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

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Core Nickel Announces Assay Results from Winter Drill Program at Halfway Lake and Provides Update on the Mel Deposit

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