SPC Nickel Completes MobileMT Survey and Launches Summer Field Program at the Muskox Cu-Ni-PGM Project, Nunavut

HIGHLIGHTS

• 1,020-line km MobileMT electromagnetic survey completed – the first of its kind at the Muskox Project and the first airborne geophysical survey in over 20 years
• Summer field program launched to conduct detailed geological mapping and sampling of high-priority targets. Results will directly inform the next phase of exploration, including future drilling
• Expanded land position through strategic staking of an additional 65 km² of the most prospective ground in the region

SUDBURY, ON, Aug. 11, 2025 /CNW/ - SPC Nickel Corp. (TSX-V:SPC) ("SPC Nickel" or the "Company") is pleased to announce the start of a focused field program at its 100%-owned 496 km² Muskox Cu-Ni-PGM Project ("Muskox Project" or the "Project"), located in Nunavut, Canada. This program complements the recently completed property-wide 1,020 line-km MobileMT electromagnetic geophysical ("MobileMT") survey and is designed to further refine priority drill targets in this vast, underexplored copper-nickel-PGM system.

SPC Nickel's MobileMT survey, the first of its kind completed over the highly prospective Muskox Intrusion and the first airborne geophysical survey completed in over 20 years on the Project, collected deep-penetrating geophysical data to help map potential conductive targets beneath the Muskox Intrusion (Results pending; see news release here). In preparation for this work, SPC Nickel strategically expanded its land position by staking an additional 65 km², increasing the Muskox Project's total size and further consolidating its control over the most prospective ground in the region. By immediately following up the MobileMT survey with a comprehensive field program, the Company will maximise the seasonal exploration window while efficiently advancing the Muskox Project by aggressively deploying the proceeds from the Company's successful $3.5 million Rights Offering (See news release here).

Historical drill results underscore the exceptional mineral potential of the Muskox Intrusion, including:

• 7.50 metres @ 6.14% Cu, 2.76% Ni and 9.06 g/t PGM (Pt+Pd+Au)¹ by Silvermet Corporation in 2007 and
• 13.74 metres @ 5.04% Cu, 2.21% Ni and 5.63 g/t PGM² by Equinox Resources Ltd. in 1987

Grant Mourre, CEO, said, "With the MobileMT survey providing unprecedented visibility into the mineralizing structures of the Muskox Intrusion, this follow on field program will help us validate and refine targets with surface mapping and sampling. Muskox has all the hallmarks of a major magmatic sulphide system. We are committed to unlocking its potential in a systematic manner by drawing on historic data from our proprietary database and the accumulated knowledge of multiple exploration seasons on site. With the completion of our recent Rights Offering, we are wasting no time putting investors' funds to work to advance this exciting project."

During the course of the field program, SPC Nickel's team will conduct detailed geological mapping and sampling high-priority targets. These efforts will enable us to better understand the styles and controls of mineralization associated with the Muskox Intrusion and will directly inform the next phase of exploration, including future drilling.

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LinkedIn: @SPC Nickel Corp

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A detailed overview of the Muskox Project may be found in the project presentation here

About the Muskox Intrusion

Originally discovered in the 1950s by Inco, SPC Nickel's Muskox Project, located in Nunavut, Canada, represents one of the most prospective greenfield polymetallic copper, nickel, and PGM projects globally. The district-scale land package (496 km²) covers the majority of the Muskox Intrusion, a large, layered mafic-ultramafic body with striking geological similarities to some of the world's most significant copper-nickel-PGM deposits, such as the massive Norilsk-Talnakh deposit that contains in excess of 28.7 Mt of nickel and 48.9 Mt of copper³ (reserves and resources, as of January 1, 2025).

The Muskox Intrusion is one of the largest and least deformed layered mafic to ultramafic bodies in the world. It was emplaced during a large magmatic event (Mackenzie Magmatic Event) in the Proterozoic by mantle plume volcanism related to the widespread Coppermine River Group flood basalts. The intrusion is broadly composed of two distinct, but related, components called the Main Muskox Intrusion and the Feeder Dyke, which combined are exposed over a length of 125 km, and range in width from 200-600 metres in the Feeder Dyke to 11 km in the Main Body of the intrusion.

Previous exploration programs completed over a roughly 60-year period identified widespread high-grade polymetallic sulphide mineralization along the basal contact of the intrusion or in the adjacent footwall, similar to the Sudbury and Norilsk-Talnakh camps. Historical drill highlights from the Muskox Project include:

• 7.50 metres @ 6.14% Cu, 2.76% Ni and 9.06 g/t PGM (Pt+Pd+Au)¹ by Silvermet Corporation (2007) and
• 13.74 metres @ 5.04% Cu, 2.21% Ni and 5.63 g/t PGM² by Equinox Resources Ltd. (1987).

These results, combined with an extensive footprint of magmatic sulfide mineralization, historical high-grade drill intercepts, untested geophysical targets and limited modern follow-up, underscore the Project's exceptional discovery potential.

Reference

1. Vivian, Gary (2007). Muskox Project, Nunavut, 2007 Drill and Geophysical Survey Program Annual Report for Prize Mining, Assessment report. 57 p., 8 data Appendices.
2. Page, J.W., Culbert, R.R. and Martin, L.S. (1988). Geochemical, geophysical and diamond drill reports on the Muskox property, NWT. Equinox Resources Ltd. DIAND Assessment report 082562. 56 p., 3 data Appendices.
3. Nornickel Annual Report 2024.

Quality Assurance, Quality Control and Qualified Persons

The 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.

The historical information shown in this news release was obtained from historical work reports filed by Equinox Resources Ltd. and Silvermet Corporation have not been independently verified by a Qualified Person as defined by NI 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 where the team is conducting a field program during the summer of 2025. 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]