Class 1 Nickel and Technologies Ltd. provided an update on its nickel exploration and operations for its 100% owned Alexo-Dundonald (Ontario) and Somanike (Quebec) nickel projects. Both projects comprise extensive property packages covering past-producing nickel mines, offering near-term production opportunity and excellent exploration upside. The Company also holds 100% interest in its River Valley PGE Project located about 65 km northeast of the City of Sudbury.

The work at A-D will include compilation and targeting and updating of 3D geological models with a view to produce revised mineral resource estimates, a preliminary economic assessment, and comprehensive exploration and development budgets for 2024 work programs to include: Compilation and verification of data, assays, inventory, and NI 43-101 reporting; Generating the Company's first comprehensive 3D geological models (current), mineral resource models (2024), and pit optimisation scenarios (2024) looking toward a PEA level study or studies in 2024; Looking toward 2024, the Company is focused on completing an updated mineral resource estimate on the Alexo South Nickel Deposit and a drilling program is being planned to test high-grade nickel shoots, expand resources, and upgrade resource categorization at Alexo South. The remaining three nickel deposits will also see new updated mineral resource estimates in 2024. Mr. Alexandr Beloborodov (P.Geo., OGQ #01637) is the Qualified Person with respect to the Somanike Nickel Project.

Summary of work completed to date by Class 1 Nickel at Alexo-Dundonalt and Somanike. Summary of work completed todate by Class 1 Nickel at Alexe-Dundonald and Somanike. Project Period Work Program Results Summary: Alexo-Dundonold Jun- Aug-Dec 2020 mineral resource estimates update mineral resource estimates for the four Alexo and Dundonald deposits.

Total resources: 1.25Mt Indicated @ 0.99% Ni; 1.01Mt Inferred @ 1.08% Ni; Alexo-DundonALD Sept-Nov 2020 airborne geophysical survey Geotech Ltd. VTEM Plus Time-Domain EM survey/magnetics; 36 drill holes in Marbridge Mine Area; 4 drill holes in Cominco Area Permits: Several provincial environmental permits are in place for the A-D Project. MECP Permit to Take Water ("PTTW") for the Alexo North Pit; and Ministry of Mines ("MINES") production-phase closure plan ("CP") amendment (2011). a Notice of Project Status, to take the Project from a state of inactivity to production, and Notice of Material Change would have to be submitted MINES; and finally; a CP Amendment would also be required for the new project, with the relevant amount of financial assurance submitted to MINES.

Previous exploration activity and results in the Alexo-Dundonnd Project area have been extensively reviewed and documented by historical NI 43-101 technical reports (Montgomery, 2004; Harron, 2009; Puritch et al., 2010 and 2012), by a previous NI 43-101 Technical Report prepared for the Company (Donaghy and Puritch, 2020), and in the current NI 43-101 Technical Report and Mineral Resource Estimate (Stone et al., 2020). Significant drill core intersections reported therein represent the latest rounds of drilling by the last companies to drill on the various target areas within the Project (i.e., Canadian Arrow at Alexo-Kelex in 2004-2005 and 2010- 2011; First Nickel at Dundonald in 2004-2005; and Falconbridge at Dundeal in 1989) and are presented as an indication of nickel grade and continuity of mineralisation typical of mineralisation typical of nickel-copper-cOBalt-PGE mining camp; and the work at A-D will be completed in 2024.