Infinico Metals Corp. announced it has received encouraging results from borehole electromagneMc (BHEM) surveys completed during the January 2024 drill program, and newly interpreted conducMve features idenMfied from surface electromagneMc surveys conducted in 2015 and 2023 on its Nicobi Project, located 160 kilometres northeast of Val-d'Or, Québec. BHEM surveys were conducted by Crone Geophysics & ExploraMon Ltd. using the Crone Pulse EM system.

A total of 1,620 metres was surveyed across 5 boreholes with 2 different loop layouts. NB24-01 P1, P2 and P3, NB24-03_P1 and P2, and NB24-05_P1 The conducMve features are all associated with the known body of mineralizaMon. The features demonstrate the massive/semi-massive nickel sulphide mineralizaMon has a typical conductance of approximately 2,500 to 3,100 S. The conducMve features correspond well with geological observaMons and measurements, indicaMng the mineralized body plunges steeply to the north-northeast.

NB24-02_P1 The conducMve target was best defined by the BHEM survey in hole NBI-24-002. The target sits to the southwest of the known mineralizaMon and corresponds to the edge of a magneMc high, interpreted to represent the contact of the host mafic intrusive body. The feature is broad with low conducMvity, silng at a depth of approximately 300 metres.

NB24-05_P2 The conducMve target was idenMfied off-hole of NBI-24-005. The feature is highly conducMve (10,900 S) and sits at 245 metres depth, directly down plunge of the known mineralizaMon. The conducMve feature represents a compelling drill target.

Surface Electromagne>cs Stepwise Moving Loop (SWML) ElectromagneEcs A Stepwise Moving Loop EM survey was conducted over part of the Nicobi property in 2015 by Anglo American. The survey did not extend directly over the known mineralizaMon. Data from the survey has been re-processed and interpreted.

Seventeen poorly constrained conducMve features were idenMfied in the re-processing across the surveyed area, ground truthing and follow up is required to confirm the features. Three conducMve features out of 17 from the re-processing were idenMfied in the near vicinity of the Nicobi mineralizaMon. MLEM_MP1 The conducMve feature sits approximately 250 metres to the north-northwest of the known mineralizaMon within the Nicobi Intrusive Complex.

The feature is untested through drilling and ground checking. MLEM_MP2 and MP3 The conducMve features sit to the southwest of the known Nicobi mineralizaMon on the edge of the magneMc high, interpreted to represent the contact between the mafic host intrusion and country rock. The conducMve features are somewhat coincident with the broad BHEM conducMve feature NB24-05_P2.

The conducMve features are compelling targets for follow up given the posiMoning at the edge of the magneMc high along strike from the known mineralizaMon. Fixed Loop ElectromagneEcs (FLEM) Infinico engaged AbiMbi Geophysics Inc. to conduct a Fixed Loop (Deep EM) TDEM geophysical survey on the Company's Nicobi Project in December 2023 as detailed in the December 07, 2023 press release. The survey idenMfied a conducMve anomaly along strike from the known mineralizaMon.

FLEM_F1 The conducMve anomaly is situated approximately 150 metres east-northeast from the known mineralizaMon. The conducMve feature is associated with the edge of a magneMc high, interpreted to represent the contact between the host Nicobi mafic intrusion and country rock. The conducMve feature has a conductance of 3750 S, very similar to the conductance of the massive nickel sulphide mineralizaMon to the southwest along strike.

Discussion of Results Infinico's phase 1 2024 drill program successfully intersected massive to semi-massive magmaMc nickel sulphide mineralizaMon, significantly upgrading the grade and length of any historically reported drilling (Minorca Resources Ltd., 1993). Analysis of the 2024 phase 1 drill core has idenMfied auto-breccia and sulphide textures consistent with a high energy, dynamic ore forming mineral system, suggesMng mineralizaMon may have been transported in a conduit from depth and/or laterally. This observaMon is important, as conduit systems can have highly variable architecture over relaMvely short distances, with sulphide accumulaMons forming at favourable locaMons in the system.

The current drill tesMng has not closed off the known mineralizaMon and the host intrusion at depth or in mulMple direcMons on strike and down plunge. The mineralized body sits above a granite footwall. The contact between the granite footwall and host mafic intrusion may have a controlling factor over mineralizaMon and could represent the basal contact of the host intrusive and/or a structural corridor for mineralizaMon.

The contact is well defined by a change in magneMc intensity from high to low, the contact remains untested along strike in either direcMon, and has untested conducMve features coincidental with the contact. Modelling and structural observaMons of the drill core suggest the mineralized body plunges steeply to the north-northeast directly above the steeply dipping granite footwall, modelled conducMve features support this orientaMon. The contact between the granite footwall and mafic intrusion remains un-tested with drilling at depth.

Furthermore, a highly conducMve EM feature sits at 240 metres depth directly down plunge of the known mineralizaMon. The contact between the granite and mafic intrusive rock represents an important exploraMon target. In January 2024 Infinico completed 5 boreholes totalling 1,167 metres.

All assay results have now been received and finalized. Borehole NBI-24-001 intersected 51.94 m of massive to semi-massive and net-texture pyrrhoMte-pentlandite-chalcopyrite sulphide mineralizaMon from 6.1 m. Borehole NBI-24-003 intersected a broad 53.85 m zone of disseminated nickel sulphide mineralizaMon. Borehole NBI-24-005 intercepted a narrow zone of semi-massive nickel sulphide mineralizaMon 120 metres north of any previously idenMfied mineralizaMon.

Boreholes NBI-24-002 and 004 did not contain any significant mineralizaMon.