Nickel North Discovers High-Grade Ni-Cu Sulfide Mineralization at Hawk Ridge Project up to 3.12% Nickel and 4.63% Copper, Announces Participation at AME Roundup 2023

Vancouver, British Columbia--(Newsfile Corp. - January 10, 2023) - Nickel North Exploration Corporation (TSXV: NNX) ("Nickel North" or the "Company") is pleased to announce the assay results of 2022 Rock Samples and discover the high-grade Ni-Cu-Co-PGE Sulfide mineralization at four previously delineated targets of the Hawk Ridge Nickel-Copper-Cobalt and PGE (Platinum Group Elements) Project in Northern Quebec.

A total of 57 rock samples, including 2 shallow backpack drilling cores have been collected during the 2022 summer program. The rock sampling locations are shown in the Figure 1 and significant assay results are listed in Table 1 below.

Highlights of the Assay Results of the Rock and Drill Cores Samples at Hawk Ridge Project.

• Falco 7 zone

Rock samples confirm an undrilled, large area (300m X 50m in size) of the medium-grade massive-disseminated Ni-Cu-Co-PGE sulfide mineralization to the southwest area of previously drilled Falco 7 zone. The Ni and Cu grades are up to 0.29% and 0.83% respectively with Co and PGE credits (Figures 2-3 and Table 1).

• Hope Advance (HAN and HAM) Zone

Hope Advance North (HAN) Zone, a 500m long and 5 to 20m wide high-grade massive sulfide Ni-Cu-Co-PGE mineralization was confirmed by the outcrop rock samples of S786360 and S786361 which shows the Ni up to 1.85%, Cu up to 1.72%, Co up to 0.13% and Pd up to 1.16 g/t (Figures 4-5 and Table 1). Medium-grade Ni-Cu sulfide mineralization zone (HAM) is up to 1000m long and 50 m wide along the structure (Figure 4).

• Gamma Zone

Two 2-meters backpack drilling holes from GABH-22-01 and GABH-22-02 were reported at 3.12% Ni, 4.63% Cu, 0.14% Co and 0.88 g/t Pd and 0.35% Ni, 0.92% Cu respectively (Figures 6-7, Table 1).

The surface outcrop rock samples were reported up to 2.51% Ni, 4.89% Cu and 0.16% Co and 1.02 g/t Pd (Figure 5, Table 1). The surface mineralized horizon can be followed up to 1000 m along and >30 wide (Figure 6).

• Pio Zone

Pio Zone was an only historical mined area in the Hawk Ridge project. There were historical ore piles (Figure 8) in the area. The outcrop samples confirm the mineralization zone could be extended to both south and north direction along the structure (Figure 9). The Ni and Cu grades are up to 0.76% and 5.37% respectively with Co and PGE credits (Table 1).

Tony Guo, President and CEO of the Company, commented, "2022 rock and backpack drilling program confirm the exploration model that the high-grade sulfide body was lens-like in form in all four zones. Nickel North now is setting out to drill/test the scope and scale of these multiple high-grade "Raglan Type" Ni-Cu sulfide targets such as Gamma Zone and HAN Zone in 2023 while continuing to advance the other targets on its ~179km², 50km long, 100% owned property in Northern Quebec."

Figure 1 Hawk Ridge Project, 2022 Rock Sampling Program Areas

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Table 1 Significant assay results of rock samples at Hawk Ridge Project¹

 
1 Notes: Py, Pyrite; Pyr, Pyrrhotite; Diss, Disseminate; Mss, Massive; Glo, Glomeroporphyritic; HAM, Hope Advance Main; HAN, Hope Advance North; GABH-22-01, 02; 2022 Backpack drilling hole number

Figure 2, Outcrop rock samples with Cu grades (ppm) in the undrilled area at Falco 7 Zone at Hawk Ridge Project

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Figure 3 Outcrop of massive to semi-massive Ni-Cu Sulfides in the undrilled southwest area (300 m x 50 m) in the Falco 7 Zone at Hawk Ridge Project

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Figure 4 Up to 500m long high-grade massive sulfide HAN zone and Up to 1000 m long, 50m wide medium grade disseminated sulfide HAM zone were confirmed by outcrop rock samples

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Figure 5 Outcrop of massive Ni-Cu Sulfides with Ni, Cu and Co grades up to 1.85%, 1.72% and 0.13% respectively the north area in the Hope Advance North Zone at Hawk Ridge Project

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Figure 6 Up to 1,000m long and 30m wide high-grade massive Ni-Cu-Co-PGE sulfide mineralization of Gamma Zone at Hawk Ridge Project

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Figure 7 High-grade massive sulfide cores from GABH-22-01 Backpack drilling hole from Gamma Zone at Hawk Ridge Project with Ni @3.12%, Cu @4.63% and Co@0.14%

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Figure 8 Old Ore Piles at Pio Zone with Ni @ 0.25% and Cu @5.37%

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Figure 9 Outcrop rock samples at Pio Zone at Hawk Ridge Project

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QAQC, Sampling, and Analytical Procedures

All rock samples were taken by certified geologists either on the mineralization zones or based on the lithology types over five previously defined mineralization target zones of Hawk Ridge project. Rock samples were analyzed by PXRF (portable X-Ray fluorescence) for nickel, copper, arsenic, zinc, lead, iron, etc. by the certified geologist in the field before shipping to the laboratory.

The Shaw Tool backpack (https://backpackdrill.com/index.html) tool has been used to sample 41 mm diameter near surface core samples by the qualified geologist in the field.

The Rock and drilling core samples were sent to the Bureau Vista Laboratory in Vancouver in the rice bags after secure transport from Kuujjuaq, Quebec to Vancouver, BC. The laboratory prepared the samples by crushing, grinding and pulverizing to a pulp with barren material washing between each sample at the crush and pulverizing stages. Then 30 g of pulp was used for the (FA330 code) Au, Pd and Pt, and four acid digestion 0.25 g ICP - ES method (MA300) for multiple elements and 0.5 g ore grade ICP-ES method (MA370) for overlimit was used.

Qualified Person

The technical information in this news release has been reviewed and approved by Tony Guo, P.Geo., Nickel North Exploration Corp's President and CEO, who is a Qualified Person as defined by National Instrument 43-101.

AME ROUNDUP 2023

The Company is pleased to announce it will be exhibiting in person at AME ROUNDUP 2023 in Vancouver from Monday, January 23 to Tuesday, January 24. Visit us at booth 127 or contact tonyguo@nnexploration.com to arrange a meeting. For more information, visit https://roundup.amebc.ca

About Nickel North Exploration

Nickel North Exploration is a Canada-based exploration company focused on defining a Cu-Ni-Co-PGE mineral resource at its Hawk Ridge Project in Northern Quebec. The board of directors, advisor committee and management team are experienced, successful mine finders. The property consists of a 50 km long belt of strong magmatic Cu-Ni-Co-PGE occurrences covering 179.67 km2. Quebec is a mining-friendly jurisdiction. Nickel North Exploration is a conscientious corporate citizen maintains good relations with local Inuit communities and is committed to sustainable development. For more information on the company, please visit www.nnexploration.com or follow Company on Twitter at https://twitter.com/nickelnorth.

Nickel North Exploration Corp. has been identified as a key player in the Critical and Strategic Minerals value chain by Quebec's Ministry of Economics and Innovation (MEI) in 2021 (Quebec Plan for the Development of Critical and Strategic Minerals 2020-2025 (quebec.ca), which is part of Quebec's Plan for the Development of Critical and Strategic Metals (QPDCSM) and aims to stimulate the exploration and mining of SCMs, their transformation and recycling.

Per: "Tony Guo"
Tony Guo

Nickel North Exploration Inc.
Tony Guo. P. Geo, Chief Executive Officer (Tel: +1-778-877-5480)
E-mail: tonyguo@nnexploration.com

North America IR / PR Jemini Capital
Jorge Galindo jorge@jeminicapital.com
Tel: +1 (647) 725-3888 x703

For further information please visit http://www.nnexploration.com

This news release may contain forward-looking information, which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release may include, but is not limited to, the Company's objectives, goals or future plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames, or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. Neither TSX Venture exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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