Canada Nickel : Investor Presentation - 31 March 2021

Introduction to

Canada Nickel Company

Delivering the

Next Generation of Nickel Sulphide Projects

TSX-V: CNC

March 31, 2021

Forward Looking Statements

This Presentation contains certain information that may constitute "forward-looking information" under applicable Canadian securities legislation about Canada Nickel Company Inc. ("CNC"). Forward-looking information includes statements about strategic plans, including future operations, future work programs, capital expenditures, discovery and production of minerals, price of nickel, timing of geological reports 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, including the risks inherent to the mining industry, adverse economic and market developments. 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 Presentation 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. CNC 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.

This Presentation has been completed by CNC. Certain corporate projects referred to herein are subject to agreements with third parties who have not prepared, reviewed or approved this Presentation. The Presentation is not intended to reflect the actual plans or exploration and development programs contemplated for such projects.

Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, CNC disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although CNC believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

The scientific and technical information contained in this Presentation has been reviewed by Steve Balch, P. Geo, (VP Exploration) and a Qualified Person within the meaning of National Instrument 43-101.

Foreign Exchange Assumptions

All amounts discussed herein are denominated in CAD dollars unless otherwise specified.

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Why Invest in Canada Nickel?

Canada Nickel (CNC) owns 100% of the Crawford Nickel-Cobalt Sulphide project:

A new nickel discovery with large scale potential in an established mining camp adjacent to existing infrastructure north of Timmins, Ontario, Canada.

• One of the top 10 nickel sulphide resources globally, with significant expansion potential
• Initial metallurgical testing confirmed excellent nickel recovery of 46%, 51% and 52% from the first 3 locked cycle tests using conventional flowsheet design. Latest testing show 15% less grinding energy required
• Nickel mineralization in Crawford extended to Main, East, West and North Zones, with total strike length of ~7 km. New target from MacDiarmid option property 15% larger than original Crawford Main Zone
• Groundbreaking, mutually beneficial MOUs signed with local First Nations
• Canada Nickel has launched wholly-owned NetZero Metals Inc. to develop zero-carbon production of Nickel, Cobalt and Iron - has applied for trademarks NetZero NickelTM, NetZero CobaltTM, NetZero IronTM

Canada Nickel is completing a PEA on the Crawford Project by April 2021, FS by year-end 2021

• MOU signed with Glencore to examine potential to use Kidd Creek mill and met site to allow faster, significantly lower capital cost startup. Work to be completed during Q1 2021

Canada Nickel is well timed - nickel appears to be entering a supercycle which occur every 15-20 years.

• Prices should remain at relatively high levels for an extended period to incent new supply to meet already strong demand growth further accelerated by substantial requirements from electric vehicles

Nickel has limited investible opportunities

• Prior supercycle in 2005-2007 largely emptied project pipeline outside Indonesia.

* Mineral Resource Estimate prepared by Caracle	3
Creek International Consulting Inc.

Board and Management Team

David Smith	• Senior VP, Finance and CFO of Agnico Eagle
Director	Mines Limited;
P.Eng., C.Dir.	• Chartered Director, Director of Sprott Resource
	Holdings
Francisca Quinn	• Co-founder and President of Quinn & Partners
Director	Inc., a recognized advisory firm advancing
M.Sc.	sustainability in business and capital markets;
	• Previously with Carbon Trust and WSP Global
Jennifer Morais	• >20 years as senior executive in private equity,
Director	alternative finance, mining finance and
BA, MBA, CFA	management consulting; previously with TPG
	Capital, CPPIB, OMERS, Hatch and CIBC
Kulvir Singh Gill	• 20 years of experience in innovation and
Director	sustainability in mining; lead innovation and
B.Comm., ICD.D	growth projects for Fortune 500 clients across
	the mining, O & G and heavy industrial sectors
Mike Cox	• Managing Partner at CoDa Associates; previously
Director	head of Vale UK and Asian refineries following
B.Sc., MBA	over 30 years in senior leadership roles in Base
	Metals with Inco and Vale
Russell Starr	• Previously in senior roles with RBC Capital
Director	Markets, Scotia Capital, Orion Securities, and
MA, MBA	Blackmont; SVP and Director of Cayden
	Resources (acquired by Agnico for $205M)
John Leddy	• Senior Advisor, Legal and Strategic Matters at
Senior Advisor,	Karora Resources Inc. (formerly RNC Minerals);
Legal	Over 20 years' experience as a business lawyer
LL.B.	and former Partner at Osler

Mark Selby	•	Previous CEO of Royal Nickel Corporation
Chairman, CEO	•	Corporate development, strategy, business
B.Comm.		planning and market research Executive with
		Quadra Mining and Inco
	•	Nickel market expert
Wendy Kaufman	•	>25 years of experience leading mining
CFO		companies in project finance, capital structure,
CPA, CA		capital markets, accounting and internal controls,
		tax, financial reporting and public disclosure;
		completed $4 billion finance for Cobre Panama
Steve Balch	•	Geophysicist with 35 years experience
VP, Exploration		specializing in Ni-Cu-PGE deposits including for
P.Geo.		Inco Limited in the Sudbury Basin and Voiseys Bay
	• Active in developing geophysics technology used
		in exploration globally
Jessie Liu-Ernsting	•	Close to 20 years of experience in mining capital
VP, Corp Dev & IR		projects engineering, capital markets, private
P.Eng., MBA		equity and corporate strategy
	• Previously with Hudbay Minerals, Resource
		Capital Funds, CIBC, Hatch and Golder Associates
Pierre-Philippe	•	>15 years of experience in successfully obtaining
Dupont		environmental, community stakeholder and First
VP, Sustainability		Nation approvals for mining projects, including
M.Sc.		permitting Dumont Nickel and Canadian Malartic;
	former Director of Sustainability at Glencore
Christian	•	30 years of experience with engineering, design
Brousseau		and construction in mining, including >6 years as
Project Director		project Director for the Dumont Nickel Project,
ing.		three years as the Engineering and Construction
	Manager for Detour Gold

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Nickel Demand

A Leader Among Metals

Nickel demand a leader among metals over the last decade (5%) driven by continued strong growth in stainless steel (5.4%) with little contribution from electric vehicles to date.

Base Metals & Other Metals Demand CAGR% (2007 - 2017)

5.2% 5.0%

5.4%

4.2%

3.8%

2.4%	2.2%
2.1%	1.8%

Aluminum Nickel	Lead	Copper	Zinc	Stainless Carbon	Cobalt Molybdenum
				Steel

Source: Macquarie

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