Nickelex Resource Corporation announced a non-brokered private placement to issue up to 11,000,000 flow-through units at a price of CAD 0.05 per unit for the gross proceeds of CAD 550,000 and issue up to 20,000,000 non-flow-through units at a price of CAD 0.025 per unit for the gross proceeds of CAD 500,000 for the aggregate gross proceeds of CAD 1,050,000 on October 24, 2023. Each flow-through unit will consist of one flow-through common share and one share purchase warrant and each non flow-through unit will consist of one non-flow-through common share and one Warrant. Each warrant in the offering will be exercisable to purchase one non-flow-through common share at an exercise price of CAD 0.05 for a period of three years from the date of issue.

Finders' fees and commissions may be paid by Nickelex in relation to this issuance. The securities issued under this Offering will be subject to a hold period of four months and one day from issuance. The offering and payment of finder's fees is subject to TSX Venture Exchange.