North American Nickel Reports Assays From New Discoveries

Regional targets return high grade assays of up to 6.18% Ni, 7.73% Cu and 1.46 g/t precious metals

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sep 29, 2014) - North American Nickel Inc. (TSX VENTURE:NAN)(OTCBB:WSCRF)(CUSIP:65704T 108) (the "Company") is pleased to report new assays from their 100% owned Maniitsoq nickel-copper-cobalt-PGM sulphide project in southwest Greenland including first results from the regional exploration targets. Thirty-nine diamond drill holes and one deepened hole totaling 8,773 metres were completed during the 2014 field season. Results for twenty-three holes are reported in this release including holes completed at the Imiak Hill Complex (IHC) and at the regional exploration targets. The Company is still awaiting assay results from twelve holes.

Highlights from the drill program include:

• Regional hole MQ-14-054 (P-058) intersected 1.72% Ni and 0.26% Cu over 5.58 metres. All four holes drilled at the P-058 target intersected high grade massive sulphide veins returning values of up to 6.18% Ni and up to 3.95% Cu.
  
  
• Regional hole MQ-14-041 (P-149) intersected 0.36% Ni, 0.17% Cu and 0.15 g/t Pt+Pd+Au over 23.2m including 3.31% Ni, 0.61% Cu and 0.27 g/t Pt+Pd+Au over 0.5 metres in norite-hosted disseminated sulphides. The P-149 (Pingo) target area is located 25 kilometres northwest of the Imiak Hill Complex and outside of the currently defined Greenland Norite Belt.
  
  
• Regional hole MQ-14-051 (P-004) intersected 0.94% Ni, 0.17% Cu and 0.99 g/t Pt+Pd+Au over 4.31 metres.
  
  
• Assays are pending for disseminated to semi-massive sulphide intersections at the regional targets P-013, P-030 and P-053.
  
  
• MQ-14-058 (Spotty Hill) intersected two intervals of strongly disseminated sulphides grading 0.52% Ni, 0.16% Cu and 0.18 g/t Pt+Pd+Au over 38.65 metres and 0.55% Ni, 0.11% Cu and 0.2 g/t Pt+Pd+Au over 10.5 metres within a much larger interval of weakly disseminated sulphide grading 0.28% Ni and 0.08% Cu over 130.56 metres.
  
  
• Assays are pending for semi-massive and massive sulphide intersections from Imiak Hill, Mikissoq and Spotty Hill.
  
  

NAN President and Interim CEO, Mark Fedikow, commented: "I'm really excited by these regional discoveries which are returning high grades of nickel, copper and precious metals and have associated borehole EM anomalies. The Spotty Hill mineralization is returning wide zones of good nickel, copper and precious metal values and new intersections of net-textured to semi-massive sulphides make this a very prospective zone for future follow-up work. The new near surface discoveries at Pingo, that are only 3 km from tide water, lie northwest of the known limits of the GNB extending our area of exploration interest. Similarly, the high grade nickel copper mineralization at P-058 and the disseminated to semi-massive sulphides intersected at P-013, P-030 and P-053 have strengthened the potential of the central and southern portions of the GNB. At the end of the year, with all assays returned, I am confident that we can communicate to our investors and supporters that North American Nickel via its 2014 exploration drilling and geophysical program has identified significant sulphide mineralization along the entire length of the Maniitsoq property."

Assay results have been received for twenty-three drill holes from the Imiak Hill Complex and the regional targets as reported herein and provided in Tables 1 and 2 and Figures 1 and 2. Figures may be viewed using the link provided with this release. Selected drill core photos are included in a recent corporate presentation on the Company's website.

REGIONAL EXPLORATION TARGETS

Twenty-two holes totaling 3,725 metres were completed to test fourteen regional targets located throughout the Maniitsoq property. Assay results have been received for sixteen holes and are pending for six additional holes.

Norite-hosted nickel sulphide mineralization has been confirmed at five regional targets: P-058, P-004, P-149, P-146 and P-136. Drilling at each of these targets was carried out to follow-up initial helicopter-borne VTEM anomalies and, in some cases, to also follow-up nickel mineralization intersected in previous drilling. Results from the drilling and borehole EM (BHEM) surveys indicate that further exploration is warranted at each of these targets.

P-058

Four holes (MQ-14-053, 54, 57 & 59), totalling 505 metres, were completed to test an initial helicopter-borne VTEM target and subsequent BHEM anomalies located near the southwestern edge of the large Fossilik norite intrusion. Historical shallow drilling in this area returned values of up to 2.24% Ni and 0.63% Cu over 12.89 metres.

All four of the 2014 holes intersected remobilized, structurally controlled high grade massive sulphide veins associated with narrow intervals of foliated norite. Best results included:

• MQ-14-054: 1.72% Ni and 0.26% Cu over 5.58 metres from 70.6 to 76.18 metres including 6.18% Ni and 0.56% Cu 0ver 0.62 metres and 5.23% Ni and 0.07% Cu over 0.81 metres
  
  
• MQ-14-057: 1.35% Ni and 0.10% Cu over 1.57 metres from 112.11 to 113.68 metres
  
  
• MQ-14-59: 2.54% Ni and 2.75% Cu over 1.74 metres from 22.26 to 24.0 metres including 4.19% Ni and 7.73% Cu over 0.45 metres
  
  

Borehole EM results and modeling for the P-058 drill holes indicates the presence of two conductive trends related to the mineralization. The high conductance near surface anomaly has limited depth extent but the deeper conductor indicates that the mineralization is open down plunge to the southwest and that conductivity thickness is increasing with depth.

P-004

The P-004 target is located at the southwestern edge of the Fossilik norite body and lies 500 metres northeast of target P-058. MQ-14-051 was drilled to test approximately 50 metres down-dip of nickel mineralization intersected in 2013 in hole MQ-13-018 (0.59% Ni and 0.18% Cu over 32.19 metres including 1.06% Ni and 0.23% Cu over 4.53m). MQ-14-051 intersected a zone of norite-hosted disseminated to net-textured sulphides deeper in the hole which graded 0.94% Ni, 0.17% Cu and 0.99 g/t Pt+Pd+Au over 4.31m from 231.14 to 235.45 metres. Included within this zone was a higher grade interval which returned values of 1.36% Ni, 0.25% Cu and 1.46 g/t Pt+Pd+Au over 2.65 metres including 2.34% Ni, 0.34% Cu and 0.73 g/t Pt+Pd+Au over 1.1 metres. The intersection occurred downhole of the target depth and data interpretation is underway to determine if the intersections in MQ-13-018 and MQ-14-091 are connected.

Two untested off-hole BHEM anomalies detected in the 2013 drill hole, MQ-13-018, lie southeast of the hole and warrant additional follow-up work.

A second hole, MQ-14-061 was drilled 285 metres to the east in an area of outcropping gossanous norite, previously tested by shallow historical holes, but did not return any significant nickel values.

P-059

The P-059 target is located 275 metres northwest of the P-58 target. One hole, MQ-14-055, was drilled to test an airborne VTEM anomaly but failed to intersect the conductor. A borehole EM survey of MQ-14-055 identified two off-hole anomalies located to the northeast and will require further drill testing to evaluate them.

P-149 & P-146 (Pingo Area)

Drill holes MQ-14-041, 42 and 47 were drilled to test VTEM anomalies and gossanous norite in what is referred to as the "Pingo" area located approximately 25 kilometres northwest of the IHC. All three holes intersected norite-hosted, nickel-copper-bearing disseminated sulphide mineralization. Best results included:

• MQ-14-041 (P-149): 0.36% Ni, 0.17% Cu and 0.15 g/t Pt+Pd+Au over 23.2 metres from 85.35 to 108.55 metres including 3.31% Ni, 0.61% Cu and 0.27 g/t Pt+Pd+Au over 0.5 metres.
  
  
• MQ-14-042 (P-149) : 0.44% Ni, 0.20% Cu and 0.21 g/t Pt+Pd+Au over 6.4 metres from 2.1 to 8.5 metres and 0.49% Ni, 0.2% Cu and 0.26 g/t Pt+Pd+Au over 3.9 metres from 77.85 to 81.75 metres
  
  

The disseminated sulphide mineralization at the P-149 target is characterized by high nickel tenors and elevated precious metal (Pt+Pd+Au) contents similar to Spotty Hill. The linear Pingo norite unit trends northeast-southwest over a distance of approximately 2 kilometres with numerous pods of gossanous outcrop visible at surface. Prior to 2014, no surface geophysics and only one shallow historical drill hole had been completed in this area which lies well outside of the currently defined Greenland Norite Belt.

P-136

The P-136 target is located four kilometres southwest of the IHC. MQ-14-048 was drilled to test a VTEM anomaly in the vicinity of shallow historical holes which intersected norite-hosted nickel sulphides. MQ-14-048 also intersected several intervals of disseminated nickel sulphide mineralization grading 0.21% Ni and 0.09% Cu over 13.17 metres from 45.58 to 58.75 metres and 0.22% Ni and 0.09% Cu over 30 metres from 95 to 125 metres. A BHEM survey of this hole identified several untested off-hole EM anomalies. This area will be further evaluated for future surface geophysical surveys and follow-up drilling.

P-013, P-030 AND P-053

Assays are pending for disseminated to semi-massive sulphide intersected in norite at the P-013, P-030 and P-053 targets.

IMIAK HILL COMPLEX (IHC)

A total of seventeen holes and one deepened hole, totalling 5,048 metres, were completed to test for extensions of the mineralization intersected in previous drilling at Imiak Hill, Mikissoq and Spotty Hill. Assay results were previously reported for five holes at Imiak Hill. Results for five holes and one deepened hole at Spotty Hill as well as one hole at Mikissoq are reported below and assays are pending for five additional IHC holes.

Spotty Hill

Drilling and borehole geophysics at Spotty Hill in 2014 have helped to define the nature and orientation of a broad zone of norite-hosted mineralization which is interpreted to plunge steeply to the southeast. The mineralization consists of zones of disseminated to heavily disseminated and patchy sulphides typically grading 0.5% Ni or greater with internal zones of higher grade semi-massive sulphides. This mineralization is surrounded by a halo of weakly disseminated sulphides typically grading 0.1 to 0.3% Ni. The most highly sulphidic portions (semi-massive sulphides) of the zone can be correlated with moderate to high conductance BHEM anomalies, while the disseminated sulphide mineralization is correlated with a large, low conductance BHEM anomaly. The position of the latter anomaly indicates that the mineralized system is open down plunge to the southeast.

MQ-14-058 intersected disseminated sulphides which are interpreted to be part of the main mineralized zone and grade 0.52% Ni, 0.16% Cu and 0.18 g/t Pt+Pd+Au over 38.65 metres from 163.4 to 202.05 metres and 0.55% Ni, 0.11% and 0.20 g/t Pt+Pd+Au Cu over 10.5 metres from 213.3 to 223.8 metres. These intersections are within a much broader halo of weaker disseminated sulphides averaging 0.28% Ni, 0.08% Cu and 0.1 g/t Pt+Pd+Au over 130.56 metres from 116.7 to 247.26 metres.

Holes MQ-14-040 and MQ-14-052 intersected the low grade nickel and copper mineralization (see Table 1) which flanks the main zone of mineralization. MQ-14-044 was collared 300 metres to the south to test a separate EM anomaly interpreted from surface geophysical surveys. This hole intersected pyroxenite and country rocks but no significant mineralization. However, the borehole EM survey from this hole showed an anomaly building to the end of the hole which is interpreted to be related to the Spotty Hill mineralization. MQ-13-022 was deepened to test for mineralization along an interpreted norite-country rock contact and intersected disseminated low grade sulphides as listed in Table 1.

Assays are pending for holes MQ-14-062 and 065, both of which intersected disseminated to semi-massive sulphides which lie within the main Spotty Hill mineralized zone.

Imiak Hill

Assays are pending for two holes including MQ-14-072 which intersected the down plunge extents of Zone 10 (19.5 metres of net-textured to semi-massive sulphides) and Zone 30 (1.7 metres of semi-massive sulphides).

Mikissoq

MQ-14-60 intersected narrow intervals of unmineralized leuconorite and was drilled southeast of the main mineralized Mikissoq norite body which is now interpreted to plunge steeply to the northeast. Assay results are pending for two holes including MQ-14-073 which intersected:

• ~ 45m of disseminated sulphides; and
  
  
• ~ 5.6 m of net-textured to semi-massive sulphides in norite.
  
  

Quality Control

Drill core assay results are evaluated as part of a Quality Assurance and Quality Control procedure that includes the use of matrix matched multi-element, certified standards with known precious and base metal values and blank standards to determine accuracy and precision of analytical results. Core sample analysis was completed by SGS Laboratories of Vancouver, Canada. Three methods of analysis were used to determine element concentrations in the rock samples submitted to SGS. These were 1. A multi-element scan subsequent to a four-acid digestion and ICP/ICP-AES finish; 2. Au, Pt and Pd lead fire assay on a 30 gram sample with ICP-AES finish; and 3. Samples with >1.00% Ni or Cu were re-analyzed by Sodium Peroxide Fusion ICP-AES calibrated for ore grade detection limits.

Qualified Person

All technical information in this release has been reviewed by Dr. Mark Fedikow, P.Geo, who is the Qualified Person for the Company, President and Interim CEO, North American Nickel Inc.

About North American Nickel

North American Nickel is a mineral exploration company with 100% owned properties in Maniitsoq, Greenland and Sudbury, Ontario.

The Maniitsoq property in Greenland is a Camp scale project comprising 3,601 square km covering numerous high-grade nickel-copper sulphide occurrences associated with norite and other mafic-ultramafic intrusions of the Greenland Norite Belt (GNB). The >75km-long belt is situated along, and near, the southwest coast of Greenland, which is pack ice free year round.

The Post Creek/Halcyon property in Sudbury is strategically located adjacent to the past producing Podolsky copper-nickel-platinum group metal deposit of KGHM International Ltd. The property lies along the extension of the Whistle Offset dyke structure. Such geological structures host major Ni-Cu-PGM deposits and producing mines within the Sudbury Camp.

Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as that term defined in the Private Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbours created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from the expected results.

ON BEHALF OF THE BOARD OF DIRECTORS

John Roozendaal, Director

North American Nickel Inc.

Neither the TSX Venture Exchange 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.

To view Figures 1 and 2 please click on the following link: http://media3.marketwire.com/docs/NAN929_F1-2.pdf.