SPC Nickel Begins Drilling at Aer-Kidd

Sudbury, March 15, 2021 - SPC Nickel Corp. (TSXV: SPC) ("SPC Nickel" or the "Company"), a battery metals company focused on nickel and copper exploration in the Sudbury Mining Camp, is pleased to announce the commencement of the 2021 drill program at its flagship Aer-Kidd Ni-Cu-PGM Project (the "Project") located in Sudbury, Ontario. An aggressive $3.6 million exploration program, including 15,050 metres of diamond drilling has been targeted for the program.

Importantly, the drill contractor will be working under a strict COVID-19 protocol to ensure the safety of all SPC Nickel employees and contractors.

Grant Mourre, CEO and President of SPC Nickel Corp. comments, "We are very excited to begin our $3.6 million exploration program with just over 15,000 metres of drilling to test the areas we believe may host high-grade Ni-Cu-PGM mineralization. Our fully funded program will ensure we have a steady stream of results through the end of program anticipated in Q2 of 2022."

The planned program will use a combination of diamond drilling and borehole geophysics to test the prospective Howland, Robinson and Rosen mineralized trends for Ni-Cu-PGM bearing massive sulphide mineralization. The drilling will focus on key areas with;

• low drill density, or no historical drilling,
• known mineralization identified in previous drill programs,
• high priority geophysical targets.

The first drill, scheduled to start on Wednesday, will initially be focused on the Robinson Trend, following up on Ni-Cu-PGM intercepts encountered down-dip of the past producing Robinson Mine. Prior intersection highlights from this area are located in Table 1.

Table 1: Highlighted drill hole intersections.

Note: All intercepts reported are down hole lengths, not true thicknesses. Insufficient drilling has been completed to date to define the orientation of the mineralized zone in space.

The second drill, scheduled to start next week, will initially focus on the Howland Trend, testing a coincident electromagnetic ("EM") and magnetotelluric ("MT") geophysical anomaly 150 metres down-dip of previously reported Ni-Cu-PGM intercepts. Highlights of prior up-dip intersections of this area are located in Table 2.

Table 2: Highlighted drill hole intersections.

Note: All intercepts reported are down hole lengths, not true thicknesses. Insufficient drilling has been completed to date to define the orientation of the mineralized zone in space.

^1. SPC Nickel Corp. Press Release dated November 6, 2018
^2. SPC Nickel Corp. Press Release dated October 19, 2020
^3. SPC Nickel Corp. Press Release dated March 2, 2015

Qualified Person

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.

Aer-Kidd Property, Sudbury Ontario

Located within the SW corner of the prolific Sudbury Mining Camp, the Aer-Kidd Property consists of a 1.5 km section of the Worthington Offset Dyke ("WOD"). The WOD hosts several high-grade Ni-Cu-PGM deposits including Vale's Totten Mine (10.1Mt @ 1.5 % Ni, 1.97 % Cu, 4.8g/t PGM)⁴ located 1.8 km along trend to the SW of the Aer-Kidd Property and KGHM's Victoria Development Project (14.5Mt @ 2.5 % Ni, 2.5 % Cu, 7.6 g/t PGM)⁵ located 3.0 km along trend NE of the Aer-Kidd Property. On the property, the WOD consists of a NE-SW trending, steeply dipping composite dyke ranging in width from 40 to 70 metres. The dyke displays a distinct zonation in both inclusion and sulphide contents from the margin to the core of the dyke.

Locally, the dyke contains a core of inclusion-rich quartz diorite ("IQD"), which can be choked with inclusions surrounded by high-grade semi-massive to massive sulphide mineralization. The orebodies within the WOD are primarily hosted within discontinuous phases of the IQD that contain 10 to 80% amphibolite inclusions ("AIQD") that can range in size from less than 10 centimetres to greater than 10 metres in diameter. Zones of AIQD form discontinuous lenses within the center of the dyke that can range in size from a few 10's of metres up to 100's of metres in length and width while the vertical extents of these zones can be greater than 2,000 metres. The semi-massive to massive sulphides intersected to date on the Property are associated with zones of AIQD.

Cautionary Statement: Mineralization identified on adjacent properties does not necessarily indicate that mineralization will be identified on the Aer-Kidd Property.

^4. Resource reported by Inco; January 31, 2001 News Release.
^5. Resource reported by KGHM; January 16, 2012 News Release.

About SPC Nickel Corp.

SPC Nickel Corp. is a new Canadian public corporation focused on exploring for Ni-Cu-PGMs within the world class Sudbury Mining Camp. The Company is currently exploring its key 100% owned exploration projects Aer-Kidd and Lockerby East both located in the heart of the historic Sudbury Mining Camp and holds an option to acquire 100% interest in the Janes project located approximately 50 km NE of Sudbury. The Company's flagship project, Aer-Kidd, is strategically located between two world class assets in the producing Totten Mine (Vale) and the large, high-grade Victoria development project (KGHM). The Company will initially focus on advancing its key Sudbury assets with a vision of growing to a pre-eminent North American nickel exploration company. Additional information regarding the Company and its projects can be found at www.spcnickel.com.

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 the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.

Further information is available at www.spcnickel.com by contacting:

Grant Mourre
Chief Executive Officer
SPC Nickel Corp.
Tel: (705) 669-1777
Email: gmourre@spcnickel.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/77268