SPC Nickel Corp. announce that the Company has entered into an Agreement with Vale Canada Limited designed to consolidate and unlock the full potential of the adjacent and contiguous West Graham and Crean Hill 3 nickel-copper deposits (collectively, the "Project") located in the world class Sudbury Mining Camp. The Agreement grants SPC Nickel the right to acquire an 100% interest in the surface and mineral rights of the Crean Hill 3 Property as therein described.

In consideration, certain rights and royalties will be extended to Vale across the combined Project. The West Graham and Crean Hill 3 deposits constitute the eastern and western contiguous portions of a large near-surface nickel-copper sulphide deposit at the base of the Sudbury Igneous Complex. The properties are located adjacent to the past-producing Lockerby and Crean Hill Mines, approximately 20 km southwest of the City of Sudbury, Ontario and Vale's Clarabelle Mill (Figure 1).

Haul roads and high-voltage electrical power infrastructure are present at the property boundary. The West Graham Deposit occurs on SPC's 100% owned Lockerby East Property, which also hosts the past producing Lockerby East Mine1 & 3. The unmined near-surface West Graham nickel-copper Deposit contains over 47,000 tonnes of nickel and 34,000 tonnes of copper in indicated and inferred resources as defined in a technical report published by First Nickel Inc. in 2009 that supported an indicated mineral resource on the property totaling 8.55 Mt grading 0.45 % Ni and 0.31 % Cu, along with an inferred mineral resource of 2.0 Mt grading 0.38 % Ni and 0.30 % Cu1. The Company considers the West Graham Resource estimate to be historic mineral resources for purposes of NI 43-101.

Neither the Company nor a qualified person on behalf of the Company have done sufficient work to classify the historical estimates as current mineral resources and the Company is not treating such historical estimates as current mineral resources. The Company considers the historic mineral estimates to be relevant to an understanding of the West Graham Project but has not done any work to validate the estimates. These grades have economic potential in the context of the Sudbury Mining Camp, as the deposit is located very near to surface and may be amenable to low-cost open pit mining.

The deposit is characterized by a broad zone of blebby to semi-massive sulphide that ranges from 1.7 to 66 metres thick and strikes for 350 metres with a dip extent of up to 533 metres. Within the larger resource, a distinct zone of higher-grade mineralization grading 1% NiEq. is present.

The Company recently completed an 18 hole, 5,200 metres drill program which has expanded the extents of the high-grade mineralized zone within the West Graham Deposit while also adding confidence in the continuity of the resource. Results from this drilling campaign include 82.6 metres grading 0.68% NiEq. in hole WG-22-008.

Note: Reported drill hole intersections refer to down-hole intersection length. True widths for WG-22-008 are estimated at 60% of downhole length. Crean Hill #3 Property Highlights: Historic drilling completed by Vale (formerly Inco) between 1958 and 1960 returned mineralized intersections of similar thickness and grade compared to the adjacent West Graham Deposit.

Highlights include hole 146740 that returned 44.48 metres grading 0.60% Ni and 0.27% Cu from 436.89 metres, including 2.29% Ni and 0.30% Cu over 4.42 metres2. Preliminary modelling of historic drill intersections suggests that the mineralized zone hosted on the Crean Hill 3 Property extends from the SPC-Vale property boundary to the west for over 600 metres. Mineralized surface outcrops, interpreted to represent the up-dip extension of the West Graham Deposit, outcrop along the exposed contact of the Sudbury Basin.

Mineralized grab samples, with values of up to 1.56% Ni and 1.21% Cu, were collected by the Company on the Crean Hill 3 Property. Note: Reported drill hole intersections refer to down-hole intersection length. True widths for hole 146740 are estimated at 70% of down-hole lengths.

Grab samples are selective by nature and values reported may not be representative of mineralized zones. Key Terms of the Agreement SPC Nickel can earn an 100% interest in the Crean Hill 3 Property from surface down to an elevation of 264.3 metres below mean sea level (a total of 550 vertical metres) pursuant to the following terms: Deliver to Vale a Feasibility Study for the Project by the deadline ("Feasibility Study Deadline") of June 30, 2026. SPC shall have the right, at its sole discretion to extend deadline to June 30, 2028 provided it has completed a NI 43-101 compliant Pre-Feasibility Study for the Project by the Feasibility Study Deadline.

Pay to Vale $1,000,000 (CDN) in cash at the Feasibility Study Deadline.