Power Nickel Recognized as a 2024 Top 50 Performer on the TSX Venture Exchange and Ranked #1 Mining Company

Company's share price appreciated 365% in 2024

TORONTO, Feb. 20, 2025 /CNW/ - Power Nickel Inc. (the "Company" or "Power Nickel") (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt IVV), is pleased to announce that it has been recognized as one of the 2024 top 50 performers on the TSX Venture Exchange ("TSXV"), with an outstanding 365% share price appreciation in 2024. The Company was ranked the top mining company and fourth overall.

The 50 companies on the list delivered an average share price appreciation of 207% to investors in 2024, up from 121% in 2023 and 73% in 2022. In addition, the group holds a combined market capitalization of $21.7 billion, an increase of over $16 billion over the course of the year.

The 2024 TSX Venture 50 showcases the top 50 of over 1,600 TSXV issuers. Eligible listed issuers are ranked based on three equally weighted criteria of one-year share price appreciation, market capitalization increase, and Canadian consolidated trading value as of December 31, 2024.

More details can be found at the following link: https://money.tmx.com/en/venture50.

Terry Lynch, Director & CEO of Power Nickel commented: "We are very proud to be recognized as a Top 50 TSX Venture Exchange Performer for 2024. Finally, a great year for our most deserving shareholders! Last year we proved the Lion Zone was something special, 2024 was a great run but we are looking forward to doing better 2025. We are fully funded and doubling our exploration programs and if you asked our tremendous scientific team I think they would all feel this Discovery is just getting going.

About Power Nickel

Power Nickel is a Canadian junior exploration company focusing on developing the High-Grade Nickel Nisk project into Canada's first Carbon Neutral nickel 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. (CRE: TSXV).

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 historical high-grade nickel-copper PGM mineralization with a series of drill programs designed to test the initial Nisk discovery zone and to explore the land package for adjacent potential Nickel deposits.

On Feb 21 Power Nickel will officially change its name to Power Metallic Mines Inc.

In addition to the Nisk project, Power Nickel owns significant land packages in British Colombia and Chile. Power Nickel has reorganized these assets in a related public vehicle through a plan of arrangement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

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. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, among others, the timing to close the financing of FT Units; the timing for various drilling plans; the ability to raise sufficient capital to fund its obligations under its property agreements going forward and conduct drilling and exploration; to maintain its mineral tenures and concessions in good standing; to explore and develop its projects; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations; future prices of nickel and other metals; changes in general economic conditions; accuracy of mineral resource and reserve estimates; the potential for new discoveries; the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if accepted, to obtain such licenses and approvals in a timely fashion relative to the Company's plans and business objectives for the applicable project; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company's operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry.

SOURCE Power Nickel Inc.

For further information, readers are encouraged to contact: Mr. Duncan Roy, VP Investor Relations, 416-580-3862, [email protected], Power Nickel Inc., The Canadian Venture Building, 82 Richmond St East, Suite 202, Toronto, ON