Core Nickel Corp. announced mobilization of the drill crews and equipment as a part of the 2024 drill program on the Company's 100% owned Halfway Lake project in the Thompson Nickel Belt, Manitoba. As announced on February 7, 2024, the program is expected to consist of approx.

1,000 metres of diamond drilling. The drill targets for the Company's winter drill program will focus on the southwestern part of the Project proximal to the historical W62 zone. Historical drilling from the 1960s in the W62 anomaly area intersected sulphidic sedimentary Pipe Formation rocks closely associated with ultramafic rocks.

Drill hole W62-D intersected mineralized horizons; the main horizon contained 18.9 m at 0.68% Ni, including 3.05 m at 1.32% Ni, as referenced from the Manitoba Assessment file AR93558. The 2024 winter drilling campaign is planned to focus on the historical W62 Zone coincident with a magnetic anomaly identified from an airborne survey completed in 2021. In addition, the Company is planning to test a magnetic anomaly ~300 m along strike to the north of the W62 Zone.

The planned work will build on the Technical Report on the Halfway and Resting Lake Properties Thompson, Manitoba, prepared by Chris Beaumont-Smith in 2023. The program is fully funded, and as released on February 26, 2024, the Company will utilize a portion of the $207,300 nonrepayable grant funding awarded by the Manitoba Mineral Development Fund (MMDF) to support the program. The Company has contracted Chris Beaumont-Smith, Ph.D., P. Geo.

to assist with the Halfway Lake exploration program. Mr. Beaumont-Smith received a Ph.D. in structural geology from the University of New Brunswick. He worked for numerous major mineral exploration companies prior to joining the Manitoba Geological Survey in 1999.

Mr. Beaumont-Smith worked in various roles with the Manitoba Geological Survey throughout his time with the government, finishing off his tenure as the Director of Mines. He left the Manitoba government in 2018, and started consulting for mineral exploration companies, and as a regulatory and community engagement consultant. Chris has experience in all phases of the mining cycle, including extensive knowledge of the mineral exploration industry in Manitoba, Crown-Aboriginal consultation, environmental licensing, mine closure and rehabilitation, and the regulatory requirements of the mineral resource development regime in Manitoba.