Class 1 Nickel and Technologies Limited announced that all necessary approvals have been granted and all contractors secured to commence a Phase 1 drill program in August 2022 at Somanike Nickel-Copper-Cobalt PGEs Project located near Val-d'Or, Quebec (Canada). The Company's primary focus is to make a major discovery of high-grade magmatic nickel sulfides in an environment of known nickel mineralization with significant opportunity for new discoveries. The Phase 1 program consists of 27 diamond holes for a total of approximately 4,500 meters.

Additional holes are being planned. Where warranted, new drill holes will be surveyed by downhole EM methods designed to detect magmatic sulphides. The drill program has been designed following extensive analyses of and re-interpretation of historical data in context with new geophysical data.

Mobilization of one diamond drill rig to its Somanike Project is expected by the end of August. The Company's principal objectives are to: (1) Investigate in situ mineralization at the historical mines, and lateral extent using the new TDEM data as a guide. (2) Investigate TDEM anomalies associated with ultramafic rocks in the footwall and hanging wall stratigraphy that includes ultramafic rocks and lateral extensions of these favorable rocks.

(3) Investigate potential for feeder system mineralization. The famous Marbridge Mine, which was the first nickel sulphide producing mine in Quebec, has not been seriously drill tested in more than five decades and has not been assessed by modern geophysical technologies capable of detecting magmatic sulphide deposits.