NLPXF - PROJECT 81 Exploration Update: Canada Nickel Company Announces Comprehensive Geophysical Survey Underway on Recently Acquired Option Properties from Noble

(TheNewswire)

Toronto, Ontario - TheNewswire - September 23, 2020 - Noble MineralExploration Inc. ("Noble" or the "Company") (TSXV:NOB ) ( FRANKFURT:NB7 ) ( OTC:NLPXF) is pleased to announce that it has been advised byits Option and JV partner - Canada Nickel Company (TSX-V:CNC)("Canada Nickel") that a comprehensive Geophysical Survey isunderway on all of the optioned property acquired from Noble MineralsExploration Inc., previously announced on March 4, 2020 and May 12,2020.

Canada Nickel will undertake detailed airborne magneticand gravity surveys, similar to what was flown to identify thecompany's flagship Crawford Nickel-Cobalt Sulphide Project. CanadaNickel's comprehensive review of all the optioned properties haverevealed analogous geophysics characteristics seen at the CrawfordNickel-Cobalt Sulphide Project together with historical (non NI43-101compliant) drill intersections of economic grade Nickelmineralization.

Vance White President and CEO said "Canada Nickelrecently announced a $13.4million financing and we are very excitedthat certain of those funds will be put to use on the Noble OptionedProperties as expressed in their news release. We will continue toadvance Project 81 using the project generator model to follow up onnumerous drill ready targets."

The Canada Nickel news Release dated September 23, 2020is detailed below:

"Canada NickelAnnounces Airborne Geophysical Survey Underway
on Recently Acquired Option Properties

Highlights

• - Airborne magnetic and gravity surveywill cover seven separate nickel-bearing target structures with morethan 30 kilometres of total strike length and ranging from 150 to 600metres wide. Survey provides same data that was successfully utilizedin the discovery and subsequent delineation of its CrawfordNickel-Cobalt Sulphide Project

  - Historic drilling yieldednickel-bearing intersections on all of the target structures,including:

  • - Kingsmill - 0.30% Ni over core lengthof 503 metres from 118 metres in historic hole KML-12-02 (2012) and0.31% Ni over 302 metres core length from 20 metres in historic hole27090 (1966)

    - Nesbitt-North - 0.28% Ni over corelength of 163 metres from 233 metres in historic hole 27083(1966)

    - Mahaffy-Aubin - 0.23% Ni over corelength of 127 metres from 82 metres in historic hole 31901 (1966) andcore length of 276 metres of serpentinized ultramafic mineralization(similar host mineralization at Crawford) in historic hole T2-80-2(1980) with no assays provided

TORONTO, September23, 2020 - Canada Nickel CompanyInc. (TSX-V:CNC) (" Canada Nickel " or the " Company ") is pleased to announce that detailed airborne magnetic andgravity surveys, similar to what was successfully utilized at theCompany's flagship Crawford Nickel-Cobalt Sulphide Project, began thisweek on its Option Properties which were acquired earlier this yearwith earn-in agreements with Noble Mineral Exploration.

"This airbornesurvey is the critical next step in unlocking the nickel-cobaltsulphide potential of the overall land package we have assembled inaddition to our Crawford project: seven different structures rangingin size from 2.2 kilometres long by 375-600 metres wide (Kingsmill),to 8 kilometres long by 200-500 metres wide (Mahaffy-Aubin). Eachstructure has yielded historical drill intersections indicating that thegeophysical targets identified are nickel-bearing," said Mark Selby, Chair and CEO of CanadaNickel.

"With ourrecently announced $13 million financing and this airborne surveyunderway, we look forward to building on the large resource we havealready defined at our Crawford nickel-cobalt project and beginning tounlock the district scale nickel-cobalt potential we believe thisregion holds over the coming autumn and winter seasons."

Airborne survey and drilling resultsfrom the Crawford Main and East Zones showed a strong correlationbetween specific magnetic and gravity signatures and nickelmineralization. This unique geophysical signature was successfullyutilized for ranking drill targets at Crawford.

The Crawford Nickel-Cobalt SulphideProject is located in the heart of the prolific Timmins-Cochranemining camp in Ontario, Canada, and is adjacent to well-established,major infrastructure associated with over 100 years of regional miningactivity.

AirborneSurvey

Theairborne survey, flown by CGG Canada Services Ltd. using the Falcon(R)system, will include measurements of the total magnetic intensity andthe vertical gravity gradient made along flight lines orientednorth-south and spaced 100 m apart. The current survey totals 2,731l-km and adds to the previously acquired 2,000 l-km to completelycover Crawford and Carnegie Townships as well as the Nesbitt-North,Kingsmill, MacDiarmid and Mahaffy exploration targets . See Figure 1 below.

Figure 1 - Plan viewof Planned Geophysical Survey Area over Crawford, Kingsmill,Nesbitt-Aubin, Nesbit North, MacDiarmid and Mahaffy-Aubin Properties,Ontario.

Click Image To View Full Size

Overview of OptionProperties (Previously released on July 13, 2020)

Kingsmill

The Kingsmill target is a largeserpentinized ultramafic intrusion which is 2.2 km long and between375-600 metres wide. For reference, the Crawford Main Zone resourceis 1.7 km long and 225-425 metres wide.

Initial review of historical drillingresults has yielded both significant nickel and PGM intersections andthe north side of the structure appears to have the same PGEenrichment as Crawford Main and East Zones: 1.0 g/t PGM over 2 metresfrom 96 metres within 0.3 g/t PGM over 30 metres from 69 metres inhistoric hole KML-12-11, 0.8 g/t PGM over 5 metres from 523 metreswithin 0.5 g/t PGM over 24 metres in historic hole KML-12-07.

The Company believes that the initialreview points to several large portions of the structure which remainhighly prospective for nickel-cobalt-PGM mineralization:

• - The two sections were 1.3 km apartleaving a large portion of the overall structure completelyuntested

  - There are several intersections whichpoints to the potential for relatively higher quantities ofrecoverable minerals

• - Holes KML-12-06, KML-12-11, KML-12-12on the Eastern section all contained intersections with significantnickel and sulphur content (which is necessary for formation of nickelsulphide minerals) across wide intersections (see Table 1below)

  - Hole KML-12-03, yielding 0.26% nickeland 0.03% sulphur over 130 metres, was the only hole (of four holes onthe Western section) drilled on the northern half of the structure,which has yielded the best mineralized portions of the Crawford Mainand East Zones

• • - Historic hole 27090, also drilled onnorth side of the structure in 1966, yielded 0.31% nickel over 302metres (sulphur was not assayed)

The understanding of the mineralogy ofthese deposits has evolved significantly since the Kingsmill drillingwas completed eight years ago, particularly the controls and thedeportment of potentially recoverable nickel minerals across adeposit. Initial mineralogy results from Kingsmill in 2012 wereinconclusive as the test was conducted on one master sample compiledfrom all drill cores across a distance of 2 km - not taking intoaccount the significant variability in mineralogy between rock types,and that some ultramafic rock will have low amounts of potentiallyrecoverable nickel minerals.

See Tables 1a and 1b and Figure 2 forresults. See below caution regarding Historical Information.

Table 1a - KingsmillSelected Historical Drilling Key Nickel Intersections - Holes 6, 11,12 (Eastern), 3 (Western), Kingsmill Township, Ontario

--------------------------------------------------------------- |DDH ID |From |To |Length|Ni |Co |Pd |Pt |S |Fe | |-------------------------------------------------------------| |  |(m) |(m) |(m) |(%) |(%) |(g/t)|(g/t)|(%) |(%) | |-------------------------------------------------------------| |KML-12-02|117.1|620.6|503.5 |0.30|0.012|0.003|0.003|0.01|5.36| |-------------------------------------------------------------| |  |  |  |  |  |  |  |  |  |  | |-------------------------------------------------------------| |KML-12-03|134.0|264.4|130.4 |0.26|0.012|0.022|0.022|0.03|6.51| |-------------------------------------------------------------| |including|134.0|169.0|35.0 |0.24|0.013|0.042|0.055|0.01|7.59| |-------------------------------------------------------------| |Including|235.0|264.4|29.4 |0.27|0.011|0.008|0.003|0.06|5.94| |-------------------------------------------------------------| |  |  |  |  |  |  |  |  |  |  | |-------------------------------------------------------------| |KML-12-06|54.7 |550.0|495.3 |0.21|0.011|0.006|0.005|0.05|5.89| |-------------------------------------------------------------| |including|57.0 |324.0|267.0 |0.26|0.011|0.008|0.006|0.03|5.88| |-------------------------------------------------------------| |  |  |  |  |  |  |  |  |  |  | |-------------------------------------------------------------| |KML-12-11|112.0|304.0|192.0 |0.24|0.011|0.009|0.006|0.03|6.11| |-------------------------------------------------------------| |including|181.0|303.0|122.0 |0.27|0.012|0.008|0.005|0.02|6.25| |-------------------------------------------------------------| |  |  |  |  |  |  |  |  |  |  | |-------------------------------------------------------------| |KML-12-12|175.0|272.0|97.0 |0.18|0.011|0.018|0.010|0.10|5.98| ---------------------------------------------------------------

Note: the lengths reported are corelengths and not true widths. Canada Nickel has insufficientinformation to determine the attitude, either of the ultramafic bodyor of mineralized zones within it. True widths will be less than thecore lengths by a number of factors. The drill hole orientations arereported in Table 2. See below caution regarding HistoricalInformation.

Table 1b - KingsmillSelected Historical Drilling Key PGM Intersections - Holes 6, 11, 12(Eastern), 3 (Western), Kingsmill Township, Ontario

------------------------------------------------------------- |DDH ID |From |To |Length|Pd+Pt| |Pd |Pt |Ni |Co | |-----------------------------------------------------------| |  |(m) |(m) |(m) |(g/t)| |(g/t)|(g/t)|(%) |(%) | |-----------------------------------------------------------| |KML-12-07|522.0|546.2|24.2 |0.4 | |0.2 |0.2 |0.06|0.008| |-----------------------------------------------------------| |including|523.0|528.0|5.0 |0.8 | |0.5 |0.3 |0.02|0.005| |-----------------------------------------------------------| |  |  |  |  |  | |  |  |  |  | |-----------------------------------------------------------| |KML-12-11|69.0 |99.0 |30.0 |0.3 | |0.1 |0.1 |0.01|0.004| |-----------------------------------------------------------| |including|96.0 |98.0 |2.0 |1.0 | |0.3 |0.7 |0.01|0.005| |-----------------------------------------------------------| |  |  |  |  |  | |  |  |  |  | |-----------------------------------------------------------| |KML-12-12|153.0|157.0|4.0 |0.4 | |0.2 |0.3 |0.02|0.005| -------------------------------------------------------------

Note: the lengths reported are corelengths and not true widths. Canada Nickel has insufficientinformation to determine the attitude, either of the ultramafic bodyor of mineralized zones within it. True widths will be less than thecore lengths by a number of factors. The drill hole orientations arereported in Table 2. See below caution regarding HistoricalInformation.

Figure 2 - Plan viewof Kingsmill Property - Historical drilling overlain on total fieldmagnetic intensity, Kingsmill Township, Ontario.

Click Image To View Full Size

For details on Noble MineralExploration Inc.'s ("Noble") 2012 drilling program, pleasesee Noble's press release dated March 15, 2018 that is filed onwww.sedar.com.

Once the resource update for Crawfordis complete, the historic drilling will be re-logged based on ourunderstanding of the geology, and mineralogical samples will beselected to understand the deportment of potentially recoverablenickel minerals (pentlandite, heazlewoodite, awaruite).

Crawford-Nesbitt-Aubin

Two targets have been identified inCrawford-Nesbitt-Aubin Township, consisting of two ultramafic units 6km long and 150-200 metres wide containing serpentinized peridotite,much of it was not assayed. Inco drilling in 1964-66 yieldedhighlights including narrow intervals of up to 0.35% Ni which testedthe edges of the geophysical target. For reference, the Crawford MainZone resource is 1.7 km long and 225-425 metres wide.

See Figure 3 for results. See below caution regarding HistoricalInformation.

Figure 3 - Plan viewof Crawford-Nesbitt-Aubin Property - Historical drilling overlain ontotal field magnetic intensity, Crawford, Nesbitt and Aubin Townships,Ontario.

Click Image To View Full Size

Nesbitt North

Two ultramafic units 3.7 km long by150-300 metres wide with significant nickel intersections wereidentified in Nesbitt township. Inco 1966 drilling highlights included0.28% Ni over 163 m in historic hole 27083. For reference, theCrawford Main Zone resource is 1.7 km long and 225-425 metreswide.

See Figure 4 for results. See below caution regarding HistoricalInformation.

Figure 4 - Plan viewof Nesbitt North Property - Historical drilling overlain on totalfield magnetic intensity, Nesbitt Township, Ontario.

Click Image To View Full Size

MacDiarmid

A target of 3 km by 150-600 metres wideultramafic intrusion with serpentinized peridotite has beenidentified, much of it was not assayed. Highlights include historichole 18127 which intersected 142 m of mineralized peridotite which wasnot assayed, and narrow intervals of up to 0.22% Ni over 1.5 m inNRK-65-7 (1965). For reference, the Crawford Main Zone resource is 1.7km long and 225-425 metres wide.

See Figure 5 for results. See belowcaution regarding Historical Information.

Figure 5 - Plan viewof MacDiarmid Property - Historical drilling overlain on total fieldmagnetic intensity, MacDiarmid Township, Ontario.

Click Image To View Full Size

Note: Property continues beyond mapboundary.

Mahaffy-Aubin

A target of 8 km by 200-500 metres wideinterpreted ultramafic intrusion has been identified, much of it wasnot assayed. Highlights include historic hole 31901 (1966) whichintersected 0.23% Ni over 127 m, and hole T2-80-2 (1980) whichintersected 277 m of serpentinized ultramafic rock with no assaysreported. For reference, the Crawford Main Zone resource is 1.7 kmlong and 225-425 metres wide.

See Figure 6 for results. See below caution regarding HistoricalInformation.

Figure 6 - Plan viewof Mahaffy-Aubin Property - Historical drilling overlain on totalfield magnetic intensity, Mahaffy and Aubin Townships, Ontario.

Click Image To View Full Size

Option Terms:

As detailed in its March 4, 2020 andMay 22, 2020 news releases, Canada Nickel acquired the Crawford Annexproperty and the option to earn up to an 80% interest in 5 additionalnickel targets within the Project 81 land package. The Crawford Annexcomprises 4,909 hectares in Crawford and Lucas township and the 5option areas (Crawford-Nesbitt-Aubin, Nesbitt North, Aubin-Mahaffy,Kingsmill-Aubin, and MacDiarmid) ("Option Properties") rangein size of 903 to 5,543 hectares. See Figure 1 for a map of propertylocations.

Canada Nickel has the option to earn upto an 80% interest in each of the Option Properties on the followingterms and conditions.

1. 1) Canada Nickel can initially earn a 60% interest in each of the Option Properties within 2years by :

• -- funding at least $500,000 of exploration and developmentexpenditures on each option property

• -- paying all property maintenance costs for each option property,including all applicable mining land taxes

• -- making a payment to Noble of $250,000 in cash or, at Noble'selection, Canada Nickel common shares.

1. 2) Canada Nickel has the right to then increase their interest to 80%in each of the Option Properties within 3 years by funding anadditional $1,000,000 of exploration and development expenditures oneach option property (for a total of $1,500,000 per optionproperty)

If the conditions to earn a 60%interest or 80% interest have been satisfied, a joint venture would beformed on that basis and a 2% net smelter return royalty (NSR) wouldbe granted to Noble on the portion of the property which are miningclaims and currently do not have any royalty on them. (The overallresult would be a total 2% NSR on each property.)

Cautionary StatementConcerning Historical Information

The historical information referencedin this press release is based primarily on drilling results reportedby Inco Ltd. and Noble Mineral Exploration Inc. A majority of theholes were drilled more than forty years ago, only tested theperiphery of the target structures, and did not traverse entire widthof the mineralized targets. This historical information has been filedwith the Ontario Government and is available on-line though the MiningLands Administration System (MLAS) website.

The company believes this informationis relevant, as it was completed by reputable companies using drillingand sampling practices that were industry standard at the time. Thecompany or its "qualified person" (for the purposes ofNational Instrument 43-101 - Standards of Disclosure for MineralProjects) has reviewed the information to confirm it has beencorrectly reproduced from the public MLAS database, but given thecompany's and its qualified person's inability to access theunderlying data, the company or its qualified person has not donesufficient work to verify the historical information contained in thisnews release.

Qualified Person andData Verification

Stephen J. Balch P.Geo. (ON), VPExploration of Canada Nickel and a "qualified person" assuch term is defined by National Instrument 43-101, has verified thedata disclosed in this news release, and has otherwise reviewed andapproved the technical information in this news release on behalf of Canada Nickel CompanyInc .

About Canada NickelCompany

Canada Nickel Company Inc. is advancingthe next generation of nickel-cobalt sulphide projects to delivernickel and cobalt required to feed the high growth electric vehicleand stainless steel markets. Canada Nickel Company has applied inmultiple jurisdictions to trademark the terms NetZeroNickel TM , NetZero Cobalt TM , NetZero Iron TM and is pursuing the development of processesto allow the production of net zero carbon nickel, cobalt, and ironproducts. Canada Nickel provides investors with leverage to nickel andcobalt in low political risk jurisdictions. Canada Nickel is currentlyanchored by its 100% owned flagship Crawford Nickel-Cobalt SulphideProject in the heart of the prolific Timmins-Cochrane miningcamp."

The Optioned Properties are all locatedwithin Noble Flagship Project 81 land package, which is located withinthe Kidd-Munro assemblage of the western Abitibi Sub-province inNorthern, Ontario, and is one of the largest contiguous, underexploredland packages in Ontario. The assemblage is one of the mostultramafic-rich volcanic successions of any age in the world and ishosts to the giant Kidd Creek VMS deposit, an important example ofbimodal-mafic (ultramafic) volcanic-associated massive sulphide (VMS)deposit, and the new developing Canada Nickel Company (CNC-TSX.V-CNC)Crawford Ni-Co-Pd Deposit, and NOB-CNC, JV Kingsmill Ni-Co-Pd depositand the Lucas Gold Deposit.

Randy S.C. Singh P.Geo (ON), P.Eng (ON)VP- Exploration & Project Development a "qualifiedperson" as such term is defined by National Instrument 43-101 hasverified the data disclosed in this news release, and has otherwisereviewed and approved the technical information in this news releaseon behalf of Noble.

About Noble MineralExploration Inc.:

Noble Mineral Exploration Inc. is aCanadian-based junior exploration company which, in addition to itsshareholdings in Canada Nickel Company Inc., Spruce Ridge ResourcesLtd. and MacDonald Mines Exploration Ltd., and its interest in theHoldsworth gold exploration property in the area of Wawa, Ontario,holds approximately 72,000 hectares of mineral rights in theTimmins-Cochrane areas of Northern Ontario known as Project 81.Project 81 hosts diversified drill-ready gold, nickel-cobalt and basemetal exploration targets at various stages of exploration. Moredetailed information is available on the website at www.noblemineralexploration.com .

Contacts:

Noble MineralExploration Inc.

H. Vance White, President

Phone: 416-214-2250

Fax: 416-367-1954

Email: info@noblemineralexploration.com IR Email:ir@noblemineralexploration.com

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