TORONTO, Ontario — January 12, 2026 — Leads & Copy — Canada Nickel Company Inc. has announced an updated mineral resource estimate for its 100% owned Reid Nickel Sulphide Project, located near Timmins, Ontario.
The Reid Nickel Sulphide Project, situated 16 kilometres southwest of the Company’s Crawford Nickel Sulphide Project, is more than twice the size of Crawford based on the outline of its geophysical target of 3.9 square kilometres. The mineral resource area covers approximately 59% of the total geophysical target area. The project is accessible year-round via an exploration road previously constructed by Canada Nickel.
The updated Mineral Resource Estimate includes:
- A 46% increase in Measured & Indicated Resource to 2.1 million tonnes of contained nickel (0.87 billion tonnes @ 0.23% Ni), including a higher-grade domain of 0.77 billion tonnes @ 0.25% Ni.
- A 47% increase in Inferred Resource to 3.2 million tonnes of contained nickel (1.45 billion tonnes @ 0.22% Ni), including a higher-grade domain of 0.98 billion tonnes @ 0.24% Ni.
- An Exploration Target with the potential for an additional 0.5–1.4 billion tonnes @ 0.21–0.22% Ni.
- The Timmins Nickel District now totals eight deposits with 10.1 million tonnes Measured & Indicated contained nickel (4.3 billion tonnes @ 0.24% Ni) and 12.5 million tonnes Inferred contained nickel (5.4 billion tonnes @ 0.23% Ni).
According to Mark Selby, CEO of Canada Nickel, the announcement confirms Reid as one of the world’s largest nickel sulphide deposits, reinforcing the potential of the Timmins Nickel District. Selby noted that Crawford is advancing towards construction by year-end, while other projects in the Timmins Nickel District, including Reid, have the potential to be even more valuable. Selby added that Reid’s mineral resource features nearly half the strip ratio, one-third less overburden, and 15% higher chromium grades than Crawford, with over 40% of the geophysical target still to be explored.
The updated Mineral Resource Estimate incorporates 34 new drill holes totaling 24,629 metres, bringing the total to 51,137 metres of core drilling in 89 drill holes. Measured Mineral Resources now total 0.04 billion tonnes grading 0.27% nickel, for a total of 0.11 million tonnes of contained nickel metal. Indicated Mineral Resources now total 0.87 billion tonnes grading 0.23% nickel, for a total of 2.03 million tonnes of contained nickel. Inferred Mineral Resources now total 1.45 billion tonnes grading 0.22% nickel, for a total of 3.22 million tonnes of contained nickel.
The dimensions of the MRE are approximately 2.3 kilometres long, 1.1 kilometres wide, and 720 metres deep, remaining open to the northeast, southwest, and at depth. The Exploration Target, based on core drilling, the geophysical survey, and the current MRE, estimates an additional 0.5-1.4 billion tonnes grading between 0.21 and 0.22% nickel.
Drilling at Reid was completed in 2022, 2024 and 2025. The 2025 campaign successfully completed the goal of infilling previous sections to increase and upgrade Inferred Mineral Resources.
The Reid MRE was prepared by Caracle Creek International Consulting Inc. A Technical Report will be filed on SEDAR+ within 45 days of this news release.
Mineral Resources are constrained within a Lerchs-Grossmann algorithm defined pit shell, with an average stripping ratio of 1.19:1 and overlain by overburden with an average thickness of 25.8 metres.
Next steps for Reid include filing a technical report describing the Mineral Resource Estimate within 45 days, mineralogical studies and metallurgical testwork through 2026, and infill drilling to better define higher grade horizons and further upgrade the mineral resource with the goal of producing a Preliminary Economic Assessment (PEA) at a future date.
Edwin Escarraga, MSc, P.Geo., is responsible for the on-going drilling and sampling program, including quality assurance (QA) and quality control (QC). Stephen J. Balch P.Geo. (ON), VP Exploration of Canada Nickel, has verified the data disclosed in this news release and has approved the technical information on behalf of Canada Nickel.
Mark Selby
CEO
Phone: 647-256-1954
Email: info@canadanickel.com
Source: Canada Nickel Company Inc.
