For personal use only

ASX ANNOUNCEMENT

26 November 2021

CEO PRESENTATION TO ANNUAL GENERAL MEETING

Pacific Nickel Mines Limited (ASX Code: PNM) (Pacific Nickel or Company) announces the Chief Executive Officer's presentation to the 2021 Annual General Meeting to be held this afternoon.

Authorised by the Chief Executive Officer.

For further information please contact:

Mr. Andrew J. Cooke

Company Secretary

Email: acooke@pacificnickel.com

Please visit the company's website at www.pacificnickel.com

Pacific Nickel Mines Limited ABN 86 075 613 268 Level 4, 283 George Street, Sydney NSW 2000, Australia PO Box R1295, Royal Exchange NSW 1225, Australia

Email: info@pacificnickel.com

www.pacificnickel.com

ersonal use only

FAST TRACKING NICKEL DSO PROJECTS

Annual General Meeting

November 2021

IMPORTANT NOTICE

This presentation may contain certain statements and projections provided by or on behalf of Pacific Nickel Mines Limited ("Pacific Nickel") with respect to the anticipated future undertakings. These forward-looking statements reflect various assumptions by or on behalf of Pacific Nickel.

onlyAccordingly, these statements are subject to significant business, economic and competitive uncertainties and contingencies associated with the mining industry which may be beyond the control of Pacific Nickel which could

cause actual results or trends to differ materially, including but not limited to price and currency fluctuations, geotechnical factors, drilling and production results, development progress, operating results, reserve estimates, legislative, fiscal and regulatory developments, economic and financial markets conditions in various countries, approvals and cost estimates, environmental risks, ability to meet funding requirements, share price volatility.

Accordingly, there can be no assurance that such statements and projections will be realised. Pacific Nickel makes no representations as to the accuracy or completeness of any such statement of projections or that any forecasts

will be achieved. Additionally, Pacific Nickel makes no representation or warranty, express or implied, in relation to, and no responsibility or liability (whether for negligence, under statute or otherwise) is or will be accepted by

Pacific Nickel or by any of their respective officers, directors, shareholders, partners, employees, or advisers as to or in relation to the accuracy or completeness of the information, statements, opinions or matters (express or

implied) arising out of, contained in or derived from this presentation or any omission from this presentation or of any other written or oral information or opinions provided now or in the future to any interested party or its

advisers. In furnishing this presentation, Pacific Nickel undertakes no obligation to provide any additional or updated information whether as a result of new information, future events or results or otherwise. Nothing in this material should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities. It does not include all available information and should not be used in isolation as a basis to invest in Pacific Nickel.

useand also available on Pacific Nickel's website under the Investors tab: 12 October 2020 - Drilling to Commence at Solomon Islands Nickel Project, 19 November 2020 - Initial JORC Resource Estimate at Kolosori, 24 November 2020 - Jejevo Exploration Target and Drilling Update, 24 November 2020 - Jejevo Exploration Target and Drilling Update, 17 December 2020 - Jejevo Nickel Project Update, 11 March 2021 - Jejevo Nickel Project - Drilling Update, 15 March 2021 Kolosori Nickel - Planned Drilling & Pre-Development Update, 23 June 2021 Jejevo Nickel Project - Drilling Update, 26 July 2021 Kolosori Nickel Project - Drilling Update, 02 September 2021 Stage 2 Infill Drilling Commences at Kolosori Nickel Project, 07 October 2021 Initial JORC Resource Estimate at Jejevo, 13 October 2021 Stage 2 Drilling and Development - Kolosori Nickel Project, 18 November 2021 Kolosori Nickel Project - Drilling Update & 18 November 2021 Release of Scoping Study for Kolosori Nickel Project.

This presentation contains information extracted from ASX market announcements reported in accordance with the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore

Re erves" ("2012 JORC Code"). Further details (including 2012 JORC Code reporting tables where applicable) of exploration results referred to in this presentation can be found in the following announcements lodged on the ASX

ersonalThe Scoping Study referred to in this announcement has been undertaken for the purpose of the further evaluation of a potential development of the Kolosori Nickel Project. It is a preliminary technical and economic study of

the potential viability of producing a nickel direct ship ore product from the Kolosori Nickel Laterite Project. The Scoping Study outcomes, production target and forecast financial information referred to in this announcement are b sed on low accuracy level technical and economic assessments that are insufficient to support estimation of Ore Reserves, or to provide certainty that the conclusions of the Study will be realised. While each of the modifying factors was considered and applied, there is no certainty of eventual conversion to Ore Reserves or that the production target itself will be realised. Further exploration and evaluation work and appropriate studies are required before Pacific Nickel is in a position to estimate any Ore Reserves or to provide any assurance of an economic development case.

The Competent Person for each of the above announcements was Mr Stuart Hutchin, a Member of the Australian Institute of Geoscientists and a full-time employee of Mining One Consultants. Pacific Nickel confirms that it is n t aware of any new information or data that materially affects the information included in any original ASX announcement. In addition, Pacific Nickel confirms that all material assumptions and technical parameters underpinning the estimate of the Mineral Resource at Kolosori in the announcement "Initial JORC Resource Estimate at Kolosori" and at Jejevo in the announcement "INITIAL JORC (2012) RESOURCE ESTIMATE AT JEJEVO" continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified.

2

Rapidly advancing Direct Shipping Ore (DSO) nickel laterite operations in the Solomon Islands

TWO NEAR TERM DEVELOPMENT NICKEL LATERITE PROJECTS

onlyKolosori - JORC 2012 Mineral Resource of 5.89Mt at 1.55% Ni (1.2% Ni cut-off)1

Jejevo - JORC 2012 Mineral Resource of 7.82Mt at 1.46% Ni (1.2% Ni cut- ff)2

useLOW CAPEX AND STRAIGHT FORWARD DSO PROJECTS

LOCAL LANDOWNERS ALIGNED AND SUPPORTIVE GOVERNMENT

MANAGEMENT EXPERIENCED IN THE SUCCESSFUL DEVELOPMENT OF ersonalISLAND-BASED MINING OPERATIONS

1.

ASX Announcement 19 Nov 2020 - Initial Resource Estimate, Kolosori Project, Solomon Islands.

2.

ASX Announcement 7 October 2021 - Initial Jorc (2012) Resource Estimate at Jejevo

3

3.

ASX Announcement 31 August 2021 - Kolosori Nickel Project - Lodgement Of Mining Lease Application

4.

ASX Announcement 13 October 2021 - Stage 2 Drilling And Project Development Update Kolosori Nickel Project

WHAT HAS PACIFIC NICKEL ACHIEVED IN 2021?

only

use

ersonal

Completion of drilling for definition of a JORC resource at Jejevo1 Finalisation of Kolosori acquisition (80%)2

Infill drilling nearly completed at Kolosori (over 200 holes), which is expected to lead to an update of a resource estimate as part of a Definitive Feasibility Study (DFS)

Completion of Environmental and Social Impact Assessment (ESIA) and mining licence application for Kolosori3,4

Completion of scoping study (with some elements at PFS and DFS standards) by consultants experienced in DSO nickel projects5

Appointment of marketing and commercial consultants to assist with offtake and funding arrangements6

Raised A$6.1 million in share placement and options offer to advance projects7,8 Early works program planned

DFS and Front-End Engineering and Design (FEED) underway

  1. ASX Announcement 7 October 2021 - Initial Jorc (2012) Resource Estimate at Jejevo
  2. ASX Announcement 12 May 2021 - Acquisition of 80% interest in Kolosori Nickel Project Completed
  3. ASX Announcement 31 August 2021 - Kolosori Nickel Project - Lodgement Of Mining Lease Application
  4. ASX Announcement 13 October 2021 - Stage 2 Drilling And Project Development Update Kolosori Nickel Project
  5. ASX Announcement 18 Nov 2021 - Release of Scoping Study for Kolosori Nickel Project

6.

ASX Announcement 10 September - Appointment Of Chief Financial Officer And Financial Advisor

4

7.

ASX Announcement 10 June 2021 - Options Offer Well Supported by Shareholders

8.

ASX Announcement 29 October 2021 - $5.25M Placement to Advance Nickel Projects

This is an excerpt of the original content. To continue reading it, access the original document here.

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Pacific Nickel Mines Ltd. published this content on 26 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 November 2021 04:09:04 UTC.