NiCAN Limited has completed its late winter diamond drilling program on the Wine Property located in the Snow Lake area, Manitoba, Canada. NiCAN designed the program to expand the understanding of several mineralized zones at the Wine Occurrence. Samples have been shipped to the lab for analysis.

Highlights: Preliminary observations within diamond drill hole Wine 24-1A (collared 45 meters to the north of Wine 22-5 and drilled to the southwest) indicate the hole has intersected multiple zones, including a previously unknown northern zone that sub crops over a core length of 3.7m. In the same hole, the Main Zone was visually interpreted over approximately 33.4m. Initial interpretations suggest diamond drill hole Wine 24-2 (collared 60m to the east southeast of Wine 22-5 and drilled to the west-northwest) intersected two zones, one being the Main Zone over a core length of approximately 16.0m and a second interval, further up the hole, interpreted to be the down plunge extension of the Upper Zone over a width of approximately 6.5m.

Analogies to Historical Lynn Lake Nickel Deposits: NiCAN believes that the nickel-copper mineralization hosted by the Wine Gabbro may have analogies to the nickel-copper deposits in the Lynn Lake area, which is to the north of the Wine property. At Lynn Lake, approximately 22.2 million tonnes averaging 1.0% nickel and 0.5% copper were historically mined at the Farley Mine. The Farley Mine consisted of multiple lenses of mineralization contained within a 4.2 km2 gabbro body and contains numerous similarities to the Wine Gabbro area.