Canada Nickel Company Inc. announces that the Preliminary Economic Assessment (PEA) has confirmed robust economics showing an after-tax NPV8% of $1.2 billion and an after-tax IRR of 16% from its Crawford Nickel Sulphide Project ("Crawford") located in Timmins, Ontario, Canada. The PEA demonstrates the potential to develop a phased conventional nickel sulphide concentrator, producing nickel concentrates and magnetite concentrate. The operation is designed to have an open pit mine with a plant potential of 120,000 tonnes per day. Crawford 2021 PEA Highlights: Robust economics: After-tax, $1.2 billion NPV8% and 16% IRR at long-term price assumptions. Large scale, low cost, long-life: Annual average nickel production of 75 million pounds (34,000 tonnes) with peak period annual average of 93 million pounds (42,000 tonnes); Significant iron and chrome by-products of 860,000 tonnes per annum and 59,000 tonnes per annum, respectively; Life- of-mine net C1 cash cost of $1.09/lb and net AISC of $1.94/lb on a by-product basis (1st quartile); Life-of-mine production of 25 years with 842,000 tonnes of nickel, 21 million tonnes of iron and 1.5 million tonnes of chrome valued at $24 billion using long-term price assumptions. Significant earnings and free cash flow generation: Annual EBITDA of $439 million and free cash flow of $274 million. Minimization of carbon footprint: Use of autonomous trolley trucks and electric shovels reduce diesel use by 40%. Optimization of the carbon sequestration potential of the tailings and waste rock.