SPC Nickel Amends Cooperation Agreement with Vale Canada Limited, Extending Term of the Agreement on West Graham Project

SUDBURY, ON, April 1, 2026 /CNW/ - SPC Nickel Corp. (TSXV: SPC) ("SPC Nickel" or the "Company") is pleased to announce that it has completed an amendment to the Cooperation Agreement dated January 19, 2023 with Vale Canada Limited ("Vale") regarding the West Graham Project ("West Graham" or the "Project") located in the world-class Sudbury Basin which extends the Feasibility Study deadline by one year to June 30, 2027.

Grant Mourre, CEO and Director, SPC Nickel stated, "Having delivered a Maiden Mineral Resource Estimate within just twelve months of commencing work, completed a positive pre-feasibility level metallurgical study, and drilled over 16,700 metres, West Graham is now established as a well-defined, scalable nickel-copper resource in one of the world's leading mining jurisdictions. This amended Cooperation Agreement provides the meaningful runway we need to advance methodically toward a Feasibility Study - the logical next step for a deposit of this scale and quality in the Sudbury Basin. We remain focused on advancing the Project in a disciplined and systematic manner as we build on the impressive progress made to this point."

SPC Nickel Accomplishments to Date

• Publication of a National Instrument 43-101 compliant Technical Report disclosing the Maiden Mineral Resource for West Graham containing 19.3 Mt grading 0.42% Ni and 0.28% Cu of Indicated resources and 3.3 Mt grading 0.37% Ni and 0.28% Cu of Inferred resources (refer to SPC Nickel Corp. December 4, 2023, Technical Report).
• Total drilling of 16,726 metres in 103 holes to the end of 2025.
• Completion of a pre-feasibility level Metallurgical Study.

Details of Amended Cooperation Agreement

The amendment, effective March 27, 2026, extends the Feasibility Study deadline under the Cooperation Agreement dated January 19, 2023 by one year, from June 30, 2026 to June 30, 2027. The corresponding extension option - available to SPC Nickel upon delivery of a National Instrument 43-101 compliant mineral resource statement and a pre-feasibility study - has similarly been extended from June 30, 2028 to June 30, 2029. All other terms of the Cooperation Agreement remain unchanged. The Company plans to continue to evaluate the economic viability towards a production decision in the future.

Quality Assurance, Quality Control and Qualified Persons

Technical elements of this news release have been approved by Mr. Grant Mourre, P.Geo. (PGO), CEO and President of SPC Nickel Corp. and a Qualified Person under National Instrument 43-101.

About SPC Nickel Corp.

SPC Nickel is a Canadian public corporation focused on exploring for high-grade polymetallic Cu-Ni-PGM mineralization in Nunavut and within the world-class Sudbury Mining Camp. SPC Nickel is currently exploring its unique district-scale polymetallic Muskox Project in Nunavut. The Company is also advancing its 100%-owned exploration project Lockerby East located in the heart of the historic Sudbury Mining Camp, which includes the West Graham Resource and the LKE Resource. SPC Nickel is committed to advancing high-potential polymetallic projects in Tier-1 jurisdictions across Canada with an emphasis on Nunavut and Sudbury.

Cautionary Note on Forward-Looking Information

Except for statements of historical fact contained herein, the information in this news release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding estimated capital and operating costs, expected production timeline, benefits of updated development plans, foreign exchange assumptions and regulatory approvals. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of SPC Nickel. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, SPC Nickel expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE SPC Nickel Corp.

Further information is available at www.spcnickel.com and/or by contacting: Grant Mourre, P.Geo., Chief Executive Officer, SPC Nickel Corp., Tel: [phone], Email: [email protected]