FPX Nickel Announces CFO Transition and Succession Plan

VANCOUVER, July 21, 2023 - FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) ("FPX" or the "Company") is pleased to report a transition and succession plan for the role of the Company's Chief Financial Officer and Corporate Secretary. FPX's current and long-serving CFO and Corporate Secretary, Mr. Chris Mitchell, has informed the Company of his intention to retire on a flexible timeline in the second half of 2023 or early 2024. As part of a planned transition process, the Company has commenced a search for a new CFO and Corporate Secretary, and Mr. Mitchell will remain available to the Company on an as-needed basis to support an orderly changeover of duties to his successor.

"Following a 30-year career in the minerals exploration and development sector, Chris joined the Company in July 2003," commented Peter Bradshaw, FPX's Chairman. "Since then, he has been an integral part of FPX's senior leadership group as we advanced our flagship Baptiste project from discovery drilling in 2010 to the upcoming preliminary feasibility study this September. On behalf of FPX's board, management, and shareholders, I would like to thank Chris for his many years of professional service, greatly valued counsel and keen sense of humour. Throughout his tenure, Chris has gone above and beyond in service to the Company, consistently demonstrating attention to detail, and ethical and committed leadership for the benefit of all FPX stakeholders. Chris will be missed, and we wish his family and him the very best in his well-deserved retirement."

The Company's Decar Nickel District represents a large-scale greenfield discovery of nickel mineralization in the form of a naturally occurring nickel-iron alloy called awaruite (Ni₃Fe) hosted in an ultramafic/ophiolite complex. FPX's mineral claims cover an area of 245 km² west of the Middle River and north of Trembleur Lake, in central British Columbia. Awaruite mineralization has been identified in several target areas within the ophiolite complex including the Baptiste Deposit and the Van Target, as confirmed by drilling, petrographic examination, electron probe analyses and outcrop sampling. Since 2010, approximately US $28 million has been spent on the exploration and development of Decar.

Of the four targets in the Decar Nickel District, the Baptiste Deposit has been the focus of increasing resource definition (a total of 99 holes and 33,700 m of drilling completed), as well as environmental and engineering studies to evaluate its potential as a bulk-tonnage open pit mining project. The Baptiste Deposit is located within the Baptiste Creek watershed, on the traditional and unceded territory of Tl'azt'en Nation and Binche Whut'en First Nation, and within several Tl'azt'enne and Binche Whut'enne keyohs. FPX has conducted mineral exploration activities to date subject to the conditions of our agreements with the Nations and keyoh holders.

FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia and other occurrences of awaruite mineralization. For more information, please view the Company's website at www.fpxnickel.com or contact Martin Turenne, President and CEO, at (604) 681-8600 or ceo@fpxnickel.com.

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne, President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.