Spruce Ridge Resources Ltd. (TSXV:SHL) enter Letter of Intent to acquire Shamrock Nickel Sulphide Property from Northwest Nickel Corp on March 11, 2024. As part of consideration Spruce transferring to Northwest Nickel 100,000 common shares in the capital of Canada Nickel Company Inc. (TSXV:CNC) and $0.01 million cash payment to Northwest Nickel, issuing to Northwest Nickel an aggregate of 2,500,000 common shares in the capital of Spruce (TSXV:SHL). Granting to Northwest Nickel a 2.0% net smelter returns royalty (NSR?) with the option to repurchase 50% of the NSR for consideration of $1,000,000.

All securities issuable in connection with the Acquisition will be subject to a hold period of four months and one day after closing.