EV NICKEL INC. announced high grade nickel intercepts from the 2023 drill program on the eastern extension of the High-Grade W4 Zone. Drilling has intersected a continuation of the high-grade nickel sulphides 50 metres to the east of the 2022 drill program. The high-grade assay results announced represent the first 4 holes of the program completed on Section 497550mE.

This year's diamond drill hole program was designed to test the eastern edge of the W4 Extension, the mineralized Nickel Zone between 200 to 450 metres from surface, discovered last year. The objectives of this year's program included expanding the known mineralization along the interpreted plunge of the mineralization and expanding the size of the nickel sulphide zone. This year's drilling successfully expanded the known mineralization with drill intercepts of 1.47% Ni over 13.1 metres, including 2.77% Ni over 4.7 metre in hole EV23-02, the deepest hole on the section and 1.58% Ni over 6.8 metres, including 3.01% Ni over 2.1 metres in hole EV23-03.

A summary of the significant drill intercepts is available in Table 1. Assay results are still pending for hole EV23-04 and are anticipated in coming weeks. This year's drilling successfully extended the mineralized envelope approximately 50 metres further to the east from the 2022 interpretation. The sulphide mineralization was intersected on, or near the basal contact of komatiitic peridotite continuing to confirm the similarities to Kambalda Style nickel sulphide deposits.

The sulphide mineralization is open at depth below hole EV23-02 and has not been closed off by the drilling. EVNI's exploration team has identified a number of marker horizons associated with the host komatiitic peridotaite and were able to project the location of the sulphide mineralization on Section 497550m E to within a few metres of the actual drill intercepts, prior to the start of the drill program. This extension of high-grade nickel sulphide will be included in the upcoming updated mineral resource planned for second quarter of 2023.