Canada Nickel Company Inc. announced that it has signed a binding letter of Intent with Noble Mineral Exploration Inc. dated July 5th, 2024 whereby Canada Nickel and Noble will contribute certain mining properties, including the existing Mann joint venture, into a new private company to consolidate their respective interests in the portfolio of nickel projects northeast of Timmins, Ontario. As part of the transaction, Canada Nickel will consolidate ownership of the mining rights and access to the surface rights for certain key patents in Aubin, Crawford, Carnegie, Dargavel, Kidd, Lennox, Lucas, Nesbitt, Prosser, and Wark townships currently held by Noble, which facilitates and simplifies future development of Crawford and other nearby regional properties held by Canada Nickel. ExploreCo, the name of which will be announced in due course, will be led by Canada Nickel's current Vice President of Exploration, Steve Balch.

Canada Nickel will also continue to operate and provide administrative and technical support to ExploreCo. Noble will have the right to nominate one director to the Board of Directors of ExploreCo, Canada Nickel will have the right to appoint 2 directors, and 2 directors will be mutually agreed.