SPC Nickel Closes $4,970,450 Private Placement

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SPC Nickel Corp. (TSXV: SPC) ("SPC Nickel" or the "Company") is pleased to announce that it has closed its previously announced non-brokered private placement. A total of 27,650,000 common share units ("Common Share Units") were issued for gross proceeds of $1,382,500, and 49,150,000 charity flow-through units ("CFT Units") for further gross proceeds of $3,587,950.

Each Common Share Unit consisted of one common share and one half of a purchase warrant of the Company (each whole warrant a "Warrant") to acquire one common share at an exercise price of $0.15 per share exercisable for a period of 20 months from closing.

Each CFT Unit consisted of one charity flow-through common share ("CFT Share") and one half of a purchase warrant of the Company (each whole warrant a "Warrant") to acquire one non-flow-through common share at an exercise price of $0.15 per share exercisable for a period of 20 months from the Closing.

The gross proceeds of the CFT Units will be used to incur expenses that are eligible Canadian Exploration Expenses which will also qualify as "flow-through critical mineral mining expenditures" within the meaning of s. 127(9) of the Income Tax Act (Canada). In addition, the exploration will target Critical Minerals and will qualify for the 30% Critical Minerals Exploration Tax Credit under the Income Tax Act (Canada). Proceeds from the Common Share Units issued in connection with the Offering will be used for general working capital purposes.

Finders' fees were paid in connection with the Offering to finders that included Haywood Securities Inc. and StephenAvenue Securities Inc. (collectively the "Finders") and consisted of cash fees in the aggregate amount of $12,000 representing an aggregate commission of 6% of the CFT Units sold to investors introduced by the Finders. In addition, a total of 240,000 broker warrants ("Broker Warrants") were issued to the Finders. Each Broker Warrant entitles the holder to purchase one Common Share at an exercise price of $0.15 for a period of 20 months from the Closing.

The securities issued in connection with the Offering are subject to certain resale restrictions, including a four-month restriction expiring on September 14, 2026, pursuant to applicable Canadian securities legislation. The Offering remains subject to the final approval of the TSX Venture Exchange.

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.

Neither 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.

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.

SOURCE SPC Nickel Corp.