Canada Nickel and UT Austin Launch Carbon Sequestration Pilot at Crawford Nickel Project

Canada Nickel Launches Carbon Sequestration Pilot with University of Texas, Aiming for Zero-Carbon Nickel Production

Canada Nickel Company (TSXV: CNC) (OTCQB: CNIKF) is forging ahead in its commitment to sustainable mining practices with the launch of an in-situ carbon sequestration pilot program at its Crawford Nickel Project near Timmins, Ontario. This initiative, conducted in collaboration with the University of Texas at Austin and supported by funding from the U.S. Department of Energy’s ARPA-E program, represents a significant step towards the company’s ambition of achieving net-zero carbon nickel production.

The pilot project focuses on injecting carbon-enriched water into a 400-meter-deep well within the Crawford ultramafic body. The goal is to accelerate the natural process of CO₂ mineralization, where the magnesium-rich minerals in the rock react with CO₂ to form stable carbonate minerals like magnesite and nesquehonite, effectively trapping the greenhouse gas underground. Previous bench-scale studies have demonstrated the potential for Crawford’s ultramafic rocks to capture substantial amounts of CO₂ through this process.

“We are excited to collaborate with the University of Texas at Austin on this innovative pilot,” stated Mark Selby, CEO of Canada Nickel. “This initiative has the potential to not only reduce our carbon footprint but also improve the value we provide from processing the material. We believe that pre-carbonating material before it is mined can reduce costs.”

The one-month field trial will employ a range of monitoring techniques to track the progress of carbon mineralization, including groundwater sampling, seismic sensors, gas detectors, and satellite-based surface tracking. Researchers anticipate that the CO₂-to-rock conversion process will begin within hours of injection, with the majority of CO₂ solidifying within six months. The detailed monitoring data will provide valuable insights into the long-term effectiveness and scalability of the in-situ carbon sequestration method.

Dr. Estibalitz Ukar, Research Associate Professor at the University of Texas at Austin, emphasized the significance of Canada Nickel’s partnership. “Canada Nickel’s support of this pilot exemplifies their commitment to responsible mineral development, scientific innovation, and climate action. By advancing novel methods for permanent CO₂ storage and supporting technologies that can scale globally, Canada Nickel is helping chart a sustainable path forward for the mining sector.”

Canada Nickel’s Broader Sustainability Strategy:

Importantly, this in-situ carbon injection pilot is independent of Canada Nickel’s existing In-Process Tailings (IPT) Carbonation Program. This multi-faceted approach highlights Canada Nickel’s dedication to integrating carbon capture and storage throughout its operations, from pre-mining to post-mining stages. The knowledge gained from this pilot will inform future post-mining carbon sequestration strategies, underpinning the company’s vision for establishing a Zero-Carbon Industrial Cluster in the Timmins region. This positions Canada Nickel to potentially capitalize on the growing demand for sustainably sourced nickel in the electric vehicle and stainless steel markets.

The Race to Net-Zero Mining: A Competitive Advantage?

Canada Nickel’s aggressive pursuit of carbon neutrality aligns with a broader industry trend towards Environmental, Social, and Governance (ESG) principles. As investors and consumers increasingly prioritize sustainability, companies that can demonstrate a commitment to reducing their environmental impact are likely to gain a competitive edge. The success of the Crawford Nickel Project and its associated carbon sequestration initiatives could serve as a model for other mining operations worldwide, particularly those dealing with ultramafic rock formations.

However, significant challenges remain. Scaling up carbon capture and storage technologies to an industrial level requires substantial investment and technological refinement. Furthermore, regulatory frameworks and carbon pricing mechanisms will play a crucial role in determining the economic viability of these projects.

Canada Nickel’s pilot with the University of Texas represents a bold move towards a more sustainable future for the mining industry. The results of this study will be closely watched by investors, industry peers, and environmental stakeholders alike, as the company continues its journey towards achieving net-zero nickel production.

Qualified Person

Arthur G. Stokreef, P.Eng (ON), Manager of Process Engineering & Geometallurgy and a “qualified person” as such term is defined by National Instrument 43-101, has reviewed and approved the technical information in this news release on behalf of Canada Nickel Company Inc.

About Canada Nickel Company

Canada Nickel Company Inc. is advancing the next generation of nickel-sulphide projects to deliver nickel required to feed the high growth electric vehicle and stainless-steel markets. Canada Nickel Company has applied in multiple jurisdictions to trademark the terms NetZero Nickel^TM, NetZero Cobalt^TM, NetZero Iron^TM and is pursuing the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Canada Nickel provides investors with leverage to nickel in low political risk jurisdictions. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins-Nickel District. For more information, please visit www.canadanickel.com.

Cautionary Note Regarding Forward-Looking Statements

This press release includes forward-looking statements subject to risks and uncertainties. Actual results may differ materially due to several factors, including but not limited to metal prices, demand, exploration results, funding availability, environmental liabilities, and regulatory approvals. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management’s opinions and estimates as of the release date. The company disclaims any obligation to update or revise these statements.