POWER NICKEL ANNOUNCES CHANGE OF NAME TO POWER METALLIC MINES INC.

TORONTO, Feb. 19, 2025 /CNW/ - Power Nickel Inc. (the "Company" or "Power Nickel") (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV0) is pleased to announce that it has received approval from the TSX Venture Exchange to change the Company's name to "Power Metallic Mines Inc." (the "Name Change").

The Name Change will take effect at the start of trading on February 21, 2025, and the Company's common shares will trade under the new CUSIP/ISIN numbers 73929R105/CA73929R1055 and will continue to trade under the symbol "PNPN".

No transmittal process is required for the Name Change. Endeavor Trust Corporation is the Company's transfer agent for its common shares.

"Nickel isn't a four-letter word in North America but it also does not reflect the high grade polymetallic discovery we have made at Nisk. The Lion Zones impressive high-grade Copper, Platinum and Palladium assays across now 40 holes and hundreds of meters of drilling suggested a more compelling name was needed. So on Feb 21 will launch our new web site. www.PowerMetallic.com and our new video and what we believe will become our most important phase of discovery yet. Welcome to Power Metallic Mines Inc." Commented Power Nickel CEO Terry Lynch

About Power Nickel Inc.

Power Nickel is a Canadian exploration company focusing on developing the High-Grade Nickel Copper PGM, Gold and Silver Nisk project into potentially Canada's next poly metallic mine.

On February 1, 2021, Power Nickel (then called Chilean Metals) completed the acquisition of its option to acquire up to 80% of the Nisk project from Critical Elements Lithium Corp.

The NISK property comprises a large land position (20 kilometres of strike length) with numerous high-grade intercepts. Power Nickel is focused on expanding the high-grade nickel-copper PGM, Gold and Silver mineralization with a series of drill programs designed to test the initial Nisk discovery zone, the Lion discovery zone and to explore the land package for adjacent potential poly metallic deposits.

Cautionary Note Regarding Forward-Looking Statements

This message contains certain statements that may be deemed "forward-looking statements" concerning the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential," "indicates," "opportunity," "possible" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Such forward-looking statements include, without limitation, statements regarding the anticipated effective date of the Name Change, which is based on management's reasonable assumptions, estimates, expectations, analyses and opinions, but which may prove to be incorrect. Such factors, among others, include the ability to obtain required confirmation of eligibility of the new post-Name Change CUSIP/ISIN numbers from CDS Clearing and Depository Services Inc. and final approval from the TSX Venture Exchange.

Neither the TSX Venture Exchange nor its Regulation 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.

SOURCE Power Nickel Inc.

Contact Information: Mr. Duncan Roy, VP Investor Relations, 416-580-3862, [email protected]