**

Canada Nickel Company Inc. (TSXV: CNC; OTCQB: CNIKF) announced today a significant financial boost for its ambitious Timmins nickel sulphide project. The company successfully closed a C$11 million private placement, injecting crucial capital into the ongoing exploration and development of this strategically important asset within the burgeoning electric vehicle (EV) battery supply chain. This funding round underscores the growing investor confidence in Canada Nickel's potential to become a significant player in the global nickel market, a critical component for the manufacturing of EV batteries.

Canada Nickel's Timmins Project: A Key Player in the Green Energy Transition

The Timmins project, located in the heart of the prolific Ontario nickel belt, holds immense promise. This area is renowned for its high-grade nickel sulphide deposits, which are particularly valued for their lower environmental footprint compared to other nickel extraction methods. This aligns perfectly with the rising demand for ethically sourced and sustainably produced materials for the expanding EV sector. The project is poised to become a crucial source of nickel for battery manufacturers, helping to secure the supply chain for this essential component in the global transition to electric mobility.

C$11 Million Private Placement: Details and Implications

The recently concluded C$11 million private placement will significantly accelerate the progress of the Timmins project. The funds will be primarily allocated to:

• Further Exploration and Drilling: Expanding the already impressive resource base through targeted exploration programs, aiming to delineate additional high-grade nickel sulphide mineralization. This will solidify the project's long-term viability and increase its overall resource potential. This includes advanced exploration techniques like high-resolution geophysical surveys and detailed geological mapping.
• Preliminary Economic Assessment (PEA) Update: The company plans to leverage the funding to enhance its existing PEA, incorporating the latest exploration results and incorporating advancements in nickel processing technology. A robust and updated PEA is crucial for attracting further investment and progressing towards a feasibility study.
• Environmental, Social, and Governance (ESG) Initiatives: Canada Nickel is committed to responsible mining practices. A portion of the funding will be directed towards initiatives that strengthen its ESG profile, including environmental impact assessments and community engagement programs. This dedication to sustainability is crucial for attracting environmentally conscious investors and securing social license to operate.

Strategic Importance of Nickel in the EV Battery Market

The demand for nickel is skyrocketing as the global transition to electric vehicles accelerates. Nickel is a critical component in many EV battery chemistries, particularly nickel-rich cathode materials which offer improved energy density and performance. The growing adoption of electric vehicles across the globe is driving up the demand for nickel, making projects like Timmins increasingly valuable.

This surge in demand creates significant opportunities for companies like Canada Nickel. The company’s commitment to environmentally responsible mining practices also strengthens its position in a market increasingly focused on sustainability and ethical sourcing.

Investor Confidence and Future Outlook

The successful closing of the C$11 million private placement is a strong testament to investor confidence in Canada Nickel and the potential of the Timmins project. This significant investment highlights the market’s recognition of the project’s high-grade nickel mineralization, its strategic location, and the company's commitment to sustainable mining practices.

The company anticipates that the additional funding will not only enhance the already promising resource base but also significantly de-risk the project, attracting further investment and accelerating the timeline towards production. The company's commitment to transparency and regular updates to stakeholders will likely further solidify this confidence.

Canada Nickel: A Leader in Sustainable Nickel Production

Canada Nickel is positioning itself as a leading player in the sustainable production of nickel. Its focus on high-grade nickel sulphide deposits, coupled with its commitment to ESG principles, resonates strongly with environmentally conscious investors and manufacturers seeking responsible sourcing. The company's innovative approach to nickel extraction and processing promises to deliver a lower-carbon footprint compared to traditional methods.

This commitment to sustainability is not just a PR exercise; it is integral to the company's long-term strategy and is expected to drive future growth and attract partnerships with major battery manufacturers seeking to secure their supply chains with ethical and environmentally sound materials.

Keywords and Future Developments for Canada Nickel

This investment bolsters Canada Nickel's position within the Canadian mining sector and broader global nickel market. The use of terms like "high-grade nickel," "electric vehicle batteries," "ESG," "sustainable mining," "Timmins," and "Ontario nickel belt" is crucial for maximizing search engine optimization (SEO). Further developments to watch include:

• Completion of the updated PEA: This will provide a clearer picture of the project's economic viability and pave the way for further investment.
• Securing strategic partnerships: Collaborations with battery manufacturers and other stakeholders in the EV supply chain will be critical for the project’s success.
• Permitting and regulatory approvals: Navigating the regulatory landscape efficiently will be crucial for timely project advancement.

The C$11 million secured by Canada Nickel is more than just a financial injection; it's an endorsement of the company's vision and a significant step towards establishing a sustainable and reliable source of nickel for the burgeoning EV industry. The future looks bright for Canada Nickel, and the Timmins project is set to play a significant role in shaping the future of electric mobility.