New Nickel Intersections at Fossilik Intrusion, P-004: 15.10m @ 0.51% Ni, 0.13% Cu

VANCOUVER, British Columbia, Dec. 18, 2017 (GLOBE NEWSWIRE) -- North American Nickel Inc. (TSX VENTURE:NAN) (OTCBB:WSCRF) (CUSIP:65704T 108) (the "Company") is pleased to report that assays have been received from seven drill holes and one drill hole extension completed to test targets at Fossilik and the Imiak Hill Complex (IHC) on the Company’s 100% owned Maniitsoq nickel-copper-cobalt-PGM sulphide project in southwest Greenland. Hole MQ-17-153 intersected multiple zones with elevated nickel values at the P-004 target area within the large Fossilik intrusion.

Drilling, mapping and surface sampling continue to expand and discover new mineralization in both the Fossilik and IHC areas. Data synthesis is providing a deeper understanding of the Maniitsoq mineral system and will guide efforts in 2018 to locate larger volumes of higher grade mineralization.

Highlights include:

• MQ-17-153:
  
  
  • 15.10m @ 0.51% Ni, 0.13% Cu, 0.02% Co and 0.13 g/t Pt+Pd+Au including
    
    
    • 8.00m @ 0.76% Ni, 0.18% Cu, 0.03% Co and 0.17 g/t Pt+Pd+Au
      
      
• Moderate conductance off-hole borehole electromagnetic (BHEM) anomalies are correlated with mineralization intersection in MQ-17-153.
  
  
• Surface sampling immediately east of the Fossilik intrusion at the P-246 target returned 2.04% Ni, 0.51% Cu, 0.12% Co and 0.30 g/t Pt+Pd+Au in a plugger sample.
  
  
• Surface sampling returned anomalous nickel values of up to 0.79% nickel and 0.56% copper at several new locations peripheral to the IHC including at the large G-025 norite intrusion.
  
  
• Melanorites have been identified as an important host to high nickel tenor disseminated sulphide mineralization at Fossilik and associated with the IHC. The larger melanorite bodies have the capacity to host thicker zones of breccia and semi-massive sulphides, potentially in the keels of the intrusions.

NAN CEO, Keith Morrison, commented: “Fossilik encompasses the largest mineralized norite body identified at Maniitsoq to date. It is important to consider the MQ-17-153 assay results at P-004 in combination with drilling results at P-058 and P-059 and the wide areas of surface nickel sulphide mineralization as being cumulatively representative of the nickel bearing capacity of the Fossilik intrusion. Further evaluation of this area will be a priority for NAN in our 2018 exploration program.”

During the 2017 exploration program, 23 drill holes totalling 8,767 metres were completed to test mineralized zones and geophysical targets in the IHC, Fossilik and P-013 SE areas within the Greenland Norite Belt (Figure 1). This release, which concludes the 2017 reporting, summarizes results for seven holes totalling 2,679 metres, as well as for the extension of hole MQ-17-135 at Mikissoq and the 2017 surface sampling program. Drill collar information and a summary of assays are provided in Tables 1 and 2 respectively. Table 3 lists the highlights of the surface sampling program. Plan maps for the Fossilik and IHC areas are provided in Figure 2 and 3, respectively. Figures may be viewed using the link provided at the end of this release.

Further details are given below.

Table 1: Drill Collar Information

Note: Collar coordinates in UTM WGS84 Zone 22N

Table 2: Assay Results

Note: Intervals represent core lengths, not necessarily true widths.
* Assay value for Pd is between 0.001 and 0.005 g/t, rounds to “0”.

Table 3: Highlights of Surface Sampling

All samples represent grab samples with the exception of the sample D06040 which was a shallow plugger sample.

Fossilik Figure 2

The Fossilik area is located in the central portion of the Greenland Norite belt and comprises several mineralized norite intrusions which host numerous surface gossans and significant zones of nickel copper sulphides intersected in drilling (see Figure 2). The central of these is the four kilometre long Fossilik intrusion where recent drilling completed by NAN has intersected additional high grade nickel copper sulphides (2.53% nickel and 1.26% copper over 10.7 metres) and has extended the P-058 zone to a vertical depth of 650 metres (see News Release dated November 23, 2017).

Three holes totaling 866 metres were completed to test surface induced polarization (IP) and EM anomalies at the P-004, P-246 and Fossilik I targets (see Figure 2).

Hole MQ-17-153, drilled at P-004 within the Fossilik intrusion, intersected a number of zones of norite-hosted mineralization which returned anomalous nickel values (see Table 1). The best results included 0.51% nickel and 0.13% copper over 15.10 metres from 201.6 to 216.7 metres including 0.76% nickel and 0.18% copper over 8.0 meters. Borehole EM surveys identified multiple small moderate conductance off-hole anomalies, several of which are interpreted to correlate with mineralization intersected at 200 and 400 metres downhole. Structural analysis and 3D modeling is in progress to be help determine the relationship of these new intersections and BHEM anomalies to previous drilling and geophysical results at P-004.

Holes MQ-17-155 and MQ-17-156 were drilled at the Fossilik I and P-246 target areas, respectively. Both holes intersected norite but did not intersect any significant mineralization. Weak to moderate off-hole BHEM anomalies were detected in borehole surveys. Surface sampling at P-246 returned highly anomalous values of up to 2.04% nickel, 0.51% copper, 0.12% cobalt and 0.30 g/t Pt+Pd+Au.

The Fossilik area hosts one of the largest known volumes of norite on the Maniitsoq Property and additional mineralization continues to be discovered. To date, the Fossilik intrusion is only partially explored and additional sampling, geophysics and drilling are planned for 2018.

Imiak Hill Complex and Surrounding Area Figure 3

The Imiak Hill Complex is located 8 km north of Fossilik and comprises the Mikissoq, Imiak Hill and Spotty Hill sulphide zones. A number of additional mineralized norite intrusions occur peripheral to the IHC, particularly to the west.

Four holes (MQ-17-147, 149, 150 and 154) totaling 1,813 metres were completed to test surface IP anomalies at the IHC but did not return significant assays (see Figure 3). Mapping and sampling outward from the IHC identified new gossans which returned values of up to 0.79% nickel and 0.56% copper including several samples from the large G-025 norite intrusion located 4 kilometres west of the IHC.

Comment on Maniitsoq Mineralization and Future Plans

Systematic analysis of geochemical data indicates that melanorites (> 12.5 wt MgO) are an important host to disseminated sulphide mineralization at both Fossilik and the IHC and this rock type also hosts thick zones of breccia and semi-massive sulphides. The melanorite keels of large mineralized intrusions such as Fossilik and target G-025 therefore represent an important geological environment to explore for large tonnage, high grade mineralization.

In addition, the Maniitsoq nickel sulphide mineralization consistently displays very high nickel tenors (percent nickel re-calculated to 100% sulphides), typically ranging from 5 to 10.5 wt % making near surface disseminated sulphide zones viable exploration targets in this environment.

Exploration in 2018 is expected to focus on both breccia-massive sulphides, potentially located in intrusion keels, as well near surface disseminated sulphide targets in order to locate larger volumes of sulphides and more quickly achieve the Company’s tonnage/size goals for the project.

Quality Control

The drilling was completed by Cabo Drilling Corp. (Canada) utilizing two Atlas Copco S2 diamond drill rigs. Additionally, drilling completed in September included a Helí 1500 Marcotte drill rig sourced from Arctic Core Drilling A/S (Greenland) and manned by a drill crew from Forage-M3 Drilling (Canada). Drill core samples (36.5 mm BQ and 47.6 mm NQ) are cut in half by a diamond saw on site. Half of the core is retained for reference purposes. Samples are generally 1.0 to 1.5 metre intervals or less at the discretion of the site geologists. Sample preparation is completed at the GeoLAB Greenland ApS preparation lab in Nuuk, Greenland. Sample pulps are sent by air to the MS Analytical laboratory in Langley, BC, Canada. Blank samples and commercially prepared and certified Ni sulphide analytical control standards with a range of grades are inserted in every batch of 20 drill core samples or a minimum of one per sample batch. Blank samples and/or commercially prepared and certified Ni sulphide analytical control standards are also inserted into every batch of surface samples. Analyses for Ni, Cu and Co are completed using a sodium peroxide fusion preparation and ICP-ES finish (PER-700). Analyses for Pt, Pd, and Au are by fire assay (30 grams nominal sample weight) with an ICP-AES finish (FAS-113).

Technical Information; Qualified Person

The Company is not aware of any legal, political, environmental or other risks that could materially affect the potential development of the project other than those set out in its annual information form filed on www.sedar.com. Please see below under the heading "Cautionary Note Regarding Forward-looking Statements" for further details regarding risks facing the Company.

All technical information in this release has been reviewed and approved by Patricia Tirschmann, P.Geo, who is the Qualified Person for the Company and Vice President Exploration, 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 2,985 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 accessible from the existing Seqi deep water port with an all year round shipping season and abundant hydro-electric potential.

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.

Cautionary Note Regarding Forward-looking Statements

This press release contains certain "forward-looking statements" and "forward-looking information" under applicable securities laws concerning the business, operations and financial performance and condition of the Company. Forward-looking statements and forward-looking information include, but are not limited to, statements with respect to the success of exploration activities; impact of mineralogy, estimation of mineral resources at mineral projects of the Company; the future economics of minerals including nickel and copper; synergies and financial impact facilities; the benefits of the development potential of the properties of the Company and currency exchange rate fluctuations. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate," "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct.

Factors that could cause actual results to vary materially from results anticipated by such forward-looking statements include variations in metal grades, changes in market conditions, variations in recovery rates, risks relating to international operations, fluctuating metal prices and currency exchange rates, and other risks of the mining industry, including but not limited to the failure of plant, equipment or processes to operate as anticipated. The Company cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws.

Although the Company 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 not to be anticipated, estimated or intended. Statements concerning mineral reserve and resource estimates may also be deemed to constitute forward-looking statements to the extent they involve estimates of the mineralization that will be encountered if the property is developed.

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. For further information on the project, please see National Instrument 43-101 (NI 43-101) technical report prepared by SRK Consulting (Canada) Inc. (SRK) dated effective March 17^th, 2017, titled “Updated Independent Technical Report for the Maniitsoq Nickel-Copper-Cobalt-PGM Project, Greenland”, available under the Company's profile at www.sedar.com or at www.northamericannickel.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Mark Fedikow
President
North American Nickel Inc.

For more information contact:

North American Nickel Inc.
Jaclyn Ruptash
Corporate Communications
(604) 770-4334
Toll free: 1-866-816-0118

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.

A PDF accompanying this announcement is available at:

http://resource.globenewswire.com/Resource/Download/baf04381-4ba1-4d6a-9556-45438e926975