Canada Nickel Company Inc. has filed a Preliminary Economic Assessment for its wholly-owned Crawford Nickel Sulphide Project located in Timmins, Ontario, Canada. The PEA, titled "Crawford Nickel Sulphide Project NI 43-101 Technical Report and Preliminary Economic Assessment" was independently prepared by Ausenco Engineering Canada Inc., in accordance with National Instrument 43-101, as previously announced in a news release dated May 25, 2021. Canada Nickel is advancing the project to a feasibility study, which is expected to be completed by mid-2022. Highlights of the PEA: The PEA indicates a 25-year mine plan based on a phased 120,000 tonnes per day open pit mine and processing operation using conventional nickel sulphide concentrator, producing nickel concentrates and magnetite concentrate. Over the 25-year mine life Crawford is expected to produce 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. Annual average nickel production of 75 million pounds (34,000 tonnes) with peak period annual average of 93 million pounds (42,000 tonnes), with significant iron and chrome by-products of 860,000 tonnes per annum and 59,000 tonnes per annum, respectively. After-tax, $1.2 billion NPV8% and 16% IRR at long-term price assumptions. Large scale, low cost, long-life. 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 annual free cash flow of $274 million. Minimization of carbon footprint through use of autonomous trolley trucks and electric shovels, which reduces diesel use by 40%. Optimization of the carbon sequestration potential of tailings and waste rock.