Canada Nickel Company to Begin Trading on TSX Venture Exchange

TORONTO, Feb. 26, 2020 - Canada Nickel Company Inc. (TSX-V:CNC) ("Canada Nickel" or the "Company") is pleased to announce that its common shares have been approved for listing on the TSX Venture Exchange under the symbol TSX-V:CNC. Canada Nickel expects that its common shares (the "Common Shares") will commence trading effective at the open of markets on February 27, 2020.

As announced by Noble Mineral Exploration Inc. ("Noble") on November 28, 2019, the Company entered into a definitive agreement to facilitate the transfer of the Crawford Nickel-Cobalt project to the Company for consideration of $2,000,000 cash and 12,000,000 Common Shares (the "Noble Consideration Shares") paid to Noble and 20,000,000 Common Shares issued to Spruce Ridge Resources Ltd.

Pursuant to an arrangement agreement between Noble and Canada Nickel, the Company has been advised that Noble has completed the plan of arrangement, the primary result of which was the distribution of 10,000,000 Noble Consideration Shares to the shareholders of Noble effective February 25, 2020.

"This is an exciting time to be launching an entirely new pure play nickel-cobalt company as the global demand for electric vehicle battery components shifts into high gear," said Mark Selby, Chairman and CEO of Canada Nickel. "We believe that our Crawford Nickel-Cobalt project could be one of the only new nickel projects globally with large scale potential. The Canada Nickel team is leveraging the project's excellent location and infrastructure, and our team's extensive project, industry and capital market experience and insights in advancing large scale nickel-cobalt projects. With exploration activities well underway, we expect a steady stream of news flow.

The Crawford Nickel-Cobalt project is located in the heart of the prolific Timmins-Cochrane mining camp in Ontario, Canada, and is adjacent to well-established, major infrastructure associated with 100 years of regional mining activity.

"Trading our shares on the TSX Venture Exchange will raise Canada Nickel's profile by diversifying our shareholder base and enhancing share liquidity in support of our Company's long-term objectives. Qualifying to trade on the TSX Venture Exchange reflects our commitment to holding our Company to the highest standards of disclosure, corporate governance, and compliance," said Selby.

For more details on the Company, please refer to its Form 2B Listing Application, which was posted on SEDAR on February 20, 2020.

The Company would also like to announce that on February 21, 2020, Canada Nickel completed a private placement and issued 3,074,333 Common Shares at a price of $0.25 for aggregate gross proceeds of $768,583. As at the date of listing, 57,000,000 Common Shares will be issued and outstanding, of which 47,000,000 Common Shares will be subject to statutory resale restrictions.

About Canada Nickel Company

Canada Nickel Company Inc. is advancing the next generation of nickel-cobalt sulphide projects to deliver nickel and cobalt required to feed the high growth electric vehicle and stainless steel markets. Canada Nickel provides investors with leverage to nickel and cobalt in low political risk jurisdictions in a geopolitically stable jurisdiction Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt project in the heart of the prolific Timmins-Cochrane mining camp.

Cautionary Statement Concerning Forward-Looking Statements

This press release contains certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward looking information includes, but is not limited to, timing for completion of the proposed transaction, the amount and uses of proceeds, strategic plans, including future exploration and development results, and corporate and technical objectives. Forward-looking information is necessarily based upon a number of assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Factors that could affect the outcome include, among others: future prices and the supply of metals, the results of drilling, inability to raise the money necessary to incur the expenditures required to retain and advance the property, environmental liabilities (known and unknown), general business, economic, competitive, political and social uncertainties, results of exploration programs, risks of the mining industry, delays in obtaining governmental approvals, and failure to obtain regulatory or shareholder approvals. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. Canada Nickel disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

Qualified Person

Stephen J. Balch P.Geo. (ON), VP Exploration of Canada Nickel and a "qualified person" as such term is defined by National Instrument 43-101, has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Canada Nickel Company Inc.

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SOURCE Canada Nickel Company Inc.