Power Nickel partners with Karbon-X to Offset 30,000 Meters of Drilling

TORONTO, June 3, 2024 - Power Nickel Inc. (the "Company" or "Power Nickel") (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV) is pleased to announce that it has partnered with Karbon-X to offset the carbon footprint associated with the drilling of 30,000 meters. This strategic initiative underscores the Company's steadfast commitment to environmental stewardship and sustainability, reaffirming their dedication to environmental excellence for the second consecutive year.

"While searching for more nickel, we discovered the remarkable Lion Zone which has dramatically ramped up our drilling program. We remain firm on our objective of delivering a Carbon Neutral Mine that is increasingly looking like it will be not just nickel, but polymetallic, with other critical minerals, notably copper, as well as high grades of platinum, palladium, gold, and silver. We are once again pleased to be working with Karbon-X and their DrillGreen program to completely offset the environmental impact of our exploration drilling," commented Terry Lynch, Power Nickel CEO.

By offsetting the greenhouse gas emissions generated from their drilling activities, Power Nickel solidifies its position as a leader in environmental responsibility within the mining industry. In their previous endeavor, the Company retired 159 high-quality Verra VCU carbon offsets to neutralize emissions from exploratory drilling, demonstrating their commitment to mitigating the environmental impact of their operations. This proactive approach aligns with Power Nickel's vision to establish Canada's first carbon-neutral nickel mine at their Nisk Project in Nemaska, Quebec.

Power Nickel Inc. Engages Apaton Finance GmbH for Investor Relations.

Power Nickel Inc. is also pleased to announce additional efforts to broaden awareness for the Company in the investment community through the engagement of Apaton Finance GmbH.

Terry Lynch, Power Nickel CEO stated, "As a small public company, the onus is on us to make sure investors are aware of the unique investment opportunities presented with Power Nickel. We have had a transformative year with the drilling success at Nisk, especially the recent Lion Discovery results. In our opinion, Apaton Finance is the leading investor relations firm in the German speaking regions as it relates to direct one-on-one investor communication.

The engagement of Apaton is for six months with compensation of EUR125,000.

Kenneth Williamson, Géo, M.Sc., VP Exploration at Power Nickel, is the qualified person who has reviewed and approved the technical disclosure contained in this news release.

Power Nickel is a Canadian junior exploration company focusing on developing the high-grade Nisk project into Canada's first Carbon Neutral Nickel mine.

The NISK property comprises a significant land position (20 kilometers of strike length) with numerous high-grade intercepts. Power Nickel is focused on expanding the historical high-grade nickel-copper PGE mineralization with a series of drill programs designed to test the initial Nisk discovery zone and to explore the land package for adjacent potential Nickel deposits.

In addition to the Nisk project, Power Nickel owns significant land packages in British Colombia and Chile. The Company is in the process of reorganizing these assets in a related vehicle, through a Plan of Arrangement that will be presented to Power Nickel shareholders of record for their approval.

To obtain Power Nickel's Corporate Presentation, please use the link below:

http://powernickel.com/corporate_presentation.pdf

For further information, readers are encouraged to contact:

Power Nickel Inc.
The Canadian Venture Building
82 Richmond St East, Suite 202
Toronto, ON

Neither the TSX Venture Exchange nor it's Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

This message contains certain statements that may be deemed "forward-looking statements" concerning the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential," "indicates," "opportunity," "possible" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, among others, the timing for the Company to close the private placement or the second Nisk option or risk that such transactions do not close at all; raise sufficient capital to fund its obligations under its property agreements going forward; to maintain its mineral tenures and concessions in good standing; to explore and develop its projects; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations; future prices of nickel and other metals; changes in general economic conditions; accuracy of mineral resource and reserve estimates; the potential for new discoveries; the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if accepted, to obtain such licenses and approvals in a timely fashion relative to the Company's plans and business objectives for the applicable project; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company's operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry.

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SOURCE Power Nickel Inc.