Power Nickel Inc. has completed the acquisition of an additional 30% of the Nisk Project from Critical Elements Lithium. This brings Power Nickel’s percentage to 80%. Power Nickel will continue to fully fund all expenditures at Nisk until a Bankable Feasibility Study is presented.

“We are pleased to conclude our earn in with Critical Elements on the Nisk Project. As we have seen with the posting of the impressive new NI43-101 Technical Report on the 2023 Mineral Resource Estimate on the Nisk Main Nickel Sulfide zone and the equally impressive high grade Copper, Silver, Platinum, Palladium, Gold & Nickel discoveries at the Lion Zone. We have a real sentiment of having found a large prolific area hosting different styles of multi-elements mineralization, each being a smaller part of a much larger system. We look forward to ramping up our efforts throughout 24 and 25 as we seek to bring these targets to a production decision.” said Power Nickel CEO Terry Lynch.

Power Nickel has observed that certain media sites like Stockwatch.com sometimes change the original headlines to obscure headlines. In recognition of this Power Nickel is reposting the April 22 News release below for those who may have missed it due to this behavior.

Toronto, Ontario – Apr 22, 2024 – Power Nickel Inc. (the “Company” or “Power Nickel”) (TSX-V: PNPN, OTCBB: PNPNF, Frankfurt: IVV) is pleased to announce high-grade multi-elements assay results for holes PN-24-047 and PN-24-051.

Highlights from hole PN-24-047 included 14.42 m of 0.59 g/t Au, 69.14 g/t Ag, 8.17% Cu, 6.25 g/t Pd, 8.44 g/t Pt and 0.58% Ni. Highlights from hole PN-24-051 included 11.40 m of 0.24 g/t Au, 13.95 g/t Ag, 2.51% Cu, 3.20 g/t Pd, 19.59 g/t Pt and 0.18% Ni.

“What we had previously noted visually has now been more than proven by assays returned from an independent accredited lab. In fact, many of these results were checked twice as they were well over normal detection limits. A good example of the assays being better that what we visually expected is hole 51 in Figure 1 – it doesn’t look that thick but as the assays showed, it was a spectacular hole.” commented Terry Lynch, Power Nickel CEO.

The Company’s Winter 2024 drill program ended with 15 successful holes at the Lion Discovery. Additional assays to be released when received shortly could evidence ongoing progress on the significant discovery that has been made. Power Nickel will continue to drill at the Lion Discovery in the upcoming summer season, following up PN-24-051 and PN-24-062, the deepest mineralized intersections to date.

“With 15 holes through the mineralized zone, we have been able to define the initial footprint of what appears to be a structurally controlled high-grade multi-elements pod. Our 50m grid approach has proven to be successful in helping us to define the geometry of the zone and its plunge. We will continue our analysis of the assay results as they become available to refine our interpretation,” stated Kenneth Williamson, Power Nickel’s VP Exploration.

Table 1 below presents the significant results and the current Assay Status for the remaining holes of the program.

Figures 2 and 3 below show a cross-section view along both PN-24-047 and PN-24-051, and a close-up on the core pictures from each hole respectively.