SPC Nickel Corp. release additional Phase 2 assay results from a series of short holes drilled immediately beneath the surface exposure of the West Graham mineralized zone. Recent geological mapping by SPC and historical sampling by Vale Canada have outlined the surface exposure of the mineralization over a 300 metre by 150 metre area north of the norite-granite footwall contact and south of any drilling completed during the Phase 1 or 2 programs. Initial results from the short 16 hole program have confirmed the down-dip extension of the surface mineralization with thick mineralized intervals at grades equal to or better than the historical West Graham mineral resource. This work has further demonstrated the potential for any future development at West Graham to be open-pit amenable. A total of 13,254 metres in 62 holes have so far been completed on the West Graham Project since drilling commenced in early March. The Phase 1 program consisted of 5,338 metres in 27 holes and was completed in late May while a total of 7,916 metres in 35 holes, including the 16 short holes mentioned above, have been completed from the ongoing Phase 2 program. Highlights: WG-23-062: 0.87% Ni, 0.41% Cu over 20.00 metres (1.00-21.00 metres) including 1.07% Ni, 0.44% Cu over 12.50 metres (6.50 to 19.00 metres). WG-23-061: 0.48% Ni, 0.24% Cu over 34.00 metres (14.00-48.00 metres) including 2.07% Ni, 0.,15% Cu over 1.15 metres (15.60 to 16.75 metres). length refers to downhole length. Estimated true thickness ratios are provided in Table 1. Estimated true thickness ratios are provide in Table 1. Estimated true thick intervals of near surface mineralization, which are equal to or better than the Historical mineral resource. These recent results combined with previous reported drill intersections demonstrate that are growing a significant nickel resource within the world class Sudbury Mining Camp. The West Graham Project benefits from in place infrastructure, has year-round road access, access to hydroelectric power, and several processing facilities within kilometres of the site. The company is looking forward to announcing additional drilling results and a maiden Mineral Resource estimate for the Project by the end of 2023. Assay Results: reported assay results from the Phase 2 drill program on the West Graham Project. West Graham hosts a historical indicated mineral resource of 8.55Mt @ 0.45% Ni, 0.31% Cu along with an inferred mineral resource of 2.0Mt @ 0.38% Ni, 0.30% Cu2. SPC Nickel considers the West Graham and Crean Hill 3 resource estimates to be historical mineral estimates for purposes of NI 43-101. Neither the Company nor a qualified person on behalf of SPC Nickel have done sufficient
work to classify the historical estimates as current mineral resources and SPC Nickel is not treating such historical estimates as current mineral resources. SPC Nickel considers the historic mineral estimates to be
relevant to an understanding of the Project but has not done any work to validate the estimates.