EV Nickel Announces Fully Funded Exploration Program

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TORONTO, ON / ACCESSWIRE / April 16, 2024 / EV NICKEL INC. (TSX-V:EVNI) ("EVNi" or the "Company") is pleased to announce its 2024 exploration program. Following the closing of a $5,119,750 flow-through financing on March 28, 2024, the Company has designed an impactful exploration program to advance its two significant Nickel deposits and evaluate other targets on its extensive land package near Timmins Ontario, Canada.

A systematic exploration program consisting of geophysical surveys, metallurgical test work, surface mapping and sampling and diamond drilling along the prospective 10 km+ CarLang Trend has been designed to continue to advance the Company's at-surface large scale, CarLang A Nickel Deposit, which hosts, in accordance with National Instrument 43-101, a combined Resource of 1.1B tonnes @ 0.24% Ni for 5.3B lbs of Class 1 Nickel consisting of Indicated Resource of 0.5B tonnes @ 0.25% Ni and an Inferred Resource of 0.5B tonnes @ 0.23% Ni (see press release dated February 28, 2023 and/or SEDAR filing dated April 12, 2023).

The Company will also be completing diamond drill programs on its priority, high-grade nickel targets contained within the Shaw Dome Property. Exploration diamond drilling will focus on areas with known occurrences of high-grade nickel including the extension of the previously announced W4 Resource, in accordance with National Instrument 43-101, consisting of a combined Resource of 2.0M tonnes @ 0.98% Ni for 43.3M lbs of Class 1 Nickel consisting of Measured and Indicated Resources of 1.45M tonnes @ 0.98% Ni and Inferred Resources of 0.6M tonnes @ 0.98% Ni (see press release dated June 12, 2023 and/or SEDAR filing dated July 26, 2023) as well as on other prospective high-grade nickel targets in the area.

"We are excited to commence our 2024 exploration program in which we will expand activities on our large-scale CarLang resource up the full 10km trend that has produced excellent results from the exploration to date. We will also be drilling prospective high grade targets and advancing our clean metal bioleaching program. We are also pleased with the recognition that our Nickel projects have received and we will continue to advance discussions with a variety of strategic groups to continue to further advance these world class projects," stated Paul Davis, VP Exploration.