EV Nickel W4 Met Sample Drill Results Include- 71.9m Grading 0.97% Ni with 4.0m Grading 4.00% Ni and 13.0m Grading 1.87% Ni

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• EVMET23-01 intersected 71.9m grading 0.97% Ni, including 29.9m grading 1.44% Ni & 4.0m grading 4.00% Ni
• EVMET23-02 intersected 61.3m grading 0.81% Ni, including 13.0m grading 1.87% Ni
• Both holes will be used by SGS to generate nickel concentrate for the Bioleaching Test Program
• Updated W4 Resource Estimate expected next month, including the recently defined W4 Extension

TORONTO, ON / ACCESSWIRE / May 15, 2023 / EV Nickel Inc. (TSX-V:EVNI) ("EVNi" or the "Company") is pleased to report the assay results for two holes completed as part of the 2023 Drill Program, within the upper portion of the W4 Zone. The holes were designed to provide a 1,000 kg composite sample to be used for the generation of a representative nickel concentrate sample to be used in the Clean Nickel™ Bioleaching Test Program (for more detail on Bioleaching please see the News Release dated May 3, 2023). Each of these metallurgical analysis holes intersected high-grade nickel sulphide mineralization consistent with the W4 Zone. The two holes were submitted to SGS Canada Inc. ("SGS") for analyses and processing and to provide a suitable quantity and quality of material for the development of the nickel concentrate, scheduled for completion in July.

Holes EVMET23-01 and EVMET23-02 contain impressive intercepts of high-grade nickel. Hole EVMET23-01 intersected 71.9 metres grading 0.97% Ni, including 29.9 metres grading 1.44% Ni and 4.0 metres grading 4.00% Ni; and Hole EVMET23-02 intersected 61.3 metres grading 0.81% Ni, including 13.0 metres grading 1.87% Ni. Table 1, below, summarizes the assay results for the metallurgical drill hole program.

"These two holes, while drilled to advance our Clean Nickel™ research, once again confirm the continuity of the high-grade nickel mineralization hosted in the W4 Zone," states Paul Davis, EVNi's Vice President of Exploration. "The intersection of over 70 metres of 0.97% Ni in hole EVMET23-01 along with the higher-grade intervals up to 4.00% nickel really demonstrates how the W4 Zone is one of the best, undeveloped nickel zones in the Timmins Area. The updated W4 Zone resource estimate including the W4 Extension, all within approximately 400 metres of surface, will highlight W4's potential. I am very excited to see the results of the updated resource estimate and have been encouraged by the continuity and grade of the mineralization observed in the zone."