SPC Nickel Intersects 1.27% Nickel and 0.47% Copper Over 18.0 metres at the West Graham Project, Sudbury, Ontario

Aug 23, 2023

Sudbury, Ontario – (August 23, 2023) – SPC Nickel Corp. (TSX-V:SPC) (“SPC Nickel”), is pleased to announce assay results at the West Graham Project, located in the world-class Nickel-Copper mining district of Sudbury, Ontario. SPC Nickel is reporting the first 13 holes of 30 from the ongoing Phase2 drill program. The Phase 2 program is well underway, with over 6,748 metres already completed, and continues to confirm and extend historic mineralization at expected or better grades while discovering new high-grade mineralization. The program is on track to provide the data required to complete an updated global resource estimate for the West Graham Project by the end of 2023.

Highlights

Hole WG-23-047, intersected a high-grade section that returned 1.27% Ni, 0.47% Cu over 18.00 metres from 245.00 to 263.00 metres within a thick zone of nickel and copper mineralization grading 0.70% Ni, 0.32% Cu over 50.00 metres from 221.00 to 271.00 metres. Length refers to downhole length. Estimated true thickness ratios are given in Table 1.
A total of 12,086 metres in 57 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 6,748metres in 30 holes have been completed from the ongoing Phase 2 program (Figure1).
Assay results from a total of 40 holes completed as part of the Phase 1 and 2 programs have been received and significant results are presented in Tables 1 and 2. Samples from the remaining 17 completed holes are being processed and will be reported when available.

Grant Mourre, CEO and President of SPC Nickel commented, “We are very pleased with the excellent results we have so far received from our Phase 2 drill program. The drill program successfully demonstrates the robust upside potential at West Graham, where we have not yet reached the limit of the strike and depth continuity of the main mineralized zone. While the recently completed ground EM survey has the potential to identify new targets within a sparsely tested footwall environment, we’re looking forward to announcing additional drilling result and a maiden Mineral Resource estimate for the combined deposits in 2023.”

For detailed sections across the West Graham Property, please visit the website at https://spcnickel.com/projects/lockerby-east/ or click on the following link West Graham Sections.

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Assay Results

Table1: Reportedassay results from the Phase 2 drill program on the West Graham Project. Assaysfrom all holes not listed in Table 1 are pending.

Figure 1: Plan map of the current area of drilling on the West Graham Project showing the collar locations and drill traces of the completed holes as well as all pending holes. Interval lengths reported above are downhole lengths. See Table 1 and 2 for true width estimations.

Figure 2: Aerial plan map of the West Graham area showing the relative locations of the historic West Graham and Crean Hill 3 Resource. Addition current and historic mineralized zones including the Crean Hill Mine (current and historic) and Lockerby Mine (historic) are also shown.

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About SPC Nickel
SPC Nickel Corp. is a Canadian public corporation focused on exploring for Ni-Cu-PGMs within the world class Sudbury Mining Camp.

SPC Nickel is currently exploring its key 100% owned exploration project Lockerby East located in the heart of the historic Sudbury Mining Camp that includes the West Graham Resource and the Crean Hill 3 property under option from Vale.

SPC Nickel also holds three additional projects across Canada including the large camp-scale Muskox Project (located in Nunavut), the past producing Aer-Kidd Project (located in the Sudbury Mining Camp) and the Janes Project (located 50 km northwest of Sudbury). The corporate focus is on Sudbury, and SPC Nickel continues to look for new opportunities to add shareholder value. Additional information regarding SPC Nickel and its projects can be found at www.spcnickel.com.

Further information is available at www.spcnickel.com by contacting:

Grant Mourre

Chief Executive Officer

SPC Nickel Corp.

Tel: (705) 669-1777

Email: [email protected]