EV NICKEL INC. announced an updated mineral resource estimate for the "W4 Deposit", a High-Grade nickel deposit in the southeast of its Shaw Dome Project. EVNi completed diamond drilling on the W4 Deposit between 2021 and 2023, combing this new data with historical drilling completed on the W4 Zone by Golden Chalice Resources to complete an updated MRE in accordance with National Instrument 43-101. The updated MRE reports Measured Resources of 0.49Mt or 11.5M pounds of contained nickel, Indicated Resources of 0.96Mt or 19.8M pounds of contained nickel, and Inferred Resources of 0.56Mt or 12.1M pounds of contained nickel .

This Updated MRE was modeled to 500 m from surface while the 2010 historical resource estimate was to 400 m from surface. The W4 Deposit remains open at depth and along plunge. On a Nickel Equivalent basis ("NiEq"), this Measured & Indicated Resources of 31.3M pounds at 0.98% Ni, works out to 33.2M NiEq pounds (2.2x the 2010 historical estimate on a NiEq basis) and the Inferred Resources of 12.1M pounds at 0.98% Ni works out to 12.9M pounds (3.8x the 2010 historical estimate on a NiEq basis).