Flying Nickel Closes Oversubscribed Private Placement for Gross Proceeds of $859,200 and Provides Update on the Plan of Arrangement

Vancouver, British Columbia, February 16, 2023 – Flying Nickel Mining Corp. (“Flying Nickel” or the “Company”) (TSX-V:FLYN, OTCQB:FLYNF) announces that, further to its news releases dated January 26, 2023, it has closed (the “Closing”) the previously announced private placement offering (the “Offering”).

Pursuant to the Closing, the Company issued an aggregate of 5,370,000 Units for aggregate gross proceeds of $859,200.  Each Unit consists of one common share of the Company and one share purchase warrant with each warrant entitling the holder to purchase one additional share of the Company at a price of $0.20 per share for 36 months from Closing (the “Units”).

The Company also announces that Sparta AG and Blackstone Minerals Limited have participated in the Offering , and each has become a shareholder owning more than 5% of common shares of the Company.

In connection with the Closing, the Company issued 332,150 Units as Finders’ Fees. Each Finder’s Unit will consist of one common share of the Company and one non-transferable share purchase warrant with each warrant entitling the holder to purchase one additional share of the Company at a price of $0.20 per share for 3 years.

The securities issued as part of the Offering will be subject to a 4-month hold period.

Proceeds of the Offering are expected to be used for the 7,081-meter (from 97 drill holes) Minago PGM assay program, and general corporate purposes.

Flying Nickel and Nevada Vanadium Mining Corp. (“Nevada Vanadium”) also announce that further to their joint press releases dated October 5, 2022 and August 23, 2022, Flying Nickel and Nevada Vanadium continue to work diligently with their respective advisors towards completion of the proposed acquisition of all of the issued and outstanding common shares of Nevada Vanadium by Flying Nickel by way of a court-approved plan of arrangement (the “Transaction”). Flying Nickel and Nevada Vanadium expect to update the closing schedule in March 2023.

About Flying Nickel

Flying Nickel Mining Corp. is a premier nickel sulphide mining and exploration company.  The company is advancing its 100% owned Minago nickel project in the Thompson nickel belt in Manitoba, Canada.

Further information on the Company can be found at www.flynickel.com.

FLYING NICKEL MINING CORP.

ON BEHALF OF THE BOARD

John Lee

Interim Chief Executive Officer

For more information about the Company, please contact:

Phone: Phone: 1.877.664.2535 / 1.877.6NICKEL

Email:  info@flynickel.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, including statements which may contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management’s expectations regarding Flying Nickel’s future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.

These factors should be considered carefully, and readers should not place undue reliance on the Flying Nickel’s forward-looking statements. Flying Nickel believes that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given that these expectations will prove to be correct. In addition, although Flying Nickel has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Flying Nickel undertakes no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.

Silver Elephant Signs Agreement to Sell 15,000 Tonnes of Ulaan Ovoo Coal to a Hong Kong Coal Buyer by March End

Vancouver, British Columbia, February 1, 2023 – Silver Elephant Mining Corp. (“Silver Elephant” or “the Company”) (TSX: ELEF, OTCQX: SILEF, Frankfurt:1P2N) announces that a sales and purchase agreement (“SPA”) has been entered between Silver Elephant’s Mongolia subsidiary (the “Seller”) and a Hong Kong commodity  trading and logistics company with significant presence in Mongolia (the “Purchaser”).

The Seller and Purchaser are sometimes hereafter referred to collectively as the “Parties”.

Under the SPA, the Seller will supply to the Purchaser 15,000 tonnes of coal (the “Trial Shipment”) from the Company’s Ulaan Ovoo mine. The Seller will deliver the Trial Shipment at the Sukhbaatar rail station in Mongolia (Point of Delivery). The Trial Shipment will then travel southbound to China by rail. The delivery is scheduled to be completed by March 31, 2023.

“After a brief pause for the lunar new year, coal sales and delivery from Silver Elephant’s Ulaan Ovoo mine is resuming in February. Our goal is to achieve steady continued coal sales year-round in 2023, which we expect to be the record year in sales revenue for Ulaan Ovoo.” commented John Lee, CEO of the Company.

Parties intend to expand the sales volume under the SPA after successful completion of the Trial Shipment. The SPA expires on December 31, 2023.

About Mega Thermal Coal Corp.

Mega Thermal Coal Corp. is a wholly owned subsidiary of Silver Elephant, which owns and operates the Ulaan Ovoo mine. Mega Thermal Coal Corp. also owns the Chandgana Khavtgai and Chandgana Tal coal mines in Mongolia.

Further information on Mega Coal can be found at www.megacoal.ca.

About Silver Elephant Mining Corp.

Silver Elephant Mining Corp. is a premier silver mining and exploration company, with a flagship Pulacayo silver project in Bolivia. It also owns 100% of Mega Thermal Coal Corp and 39% of Oracle Commodity Holding Corp. (“Oracle”). Oracle has equity and royalty investments in nickel and vanadium mining.

Further information on Silver Elephant can be found at www.silverelef.com.SILVER ELEPHANT MINING CORP.

ON BEHALF OF THE BOARD

John Lee
CEO

For more information about Silver Elephant, please contact Investor Relations:
+1.604.569.3661 ext. 101
info@silverelef.com / www.silverelef.com

Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements and Reader Advisory

Certain statements contained in this or other news release, including, but not limited to, statements with respect to the debt settlements, the terms of the debt settlements, and the completion of the debt settlements, among other things, and statements which may contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, “targets”, or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management’s expectations regarding either of Silver Elephant’s future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.

These factors should be considered carefully, and readers should not place undue reliance on Silver Elephant’s forward-looking statements. Silver Elephant believe that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable based on information available to it, but no assurance can be given that these expectations will prove to be correct. In addition, although Silver Elephant has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Silver Elephant undertakes no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.

Flying Nickel Announces Private Placement Offering of Up To 5,000,000 Units for Gross Proceeds of Up To $800,000

Vancouver, British Columbia, January 26, 2023 – Flying Nickel Mining Corp. (“Flying Nickel” or the “Company”) (TSX-V:FLYN, OTCQB:FLYNF) announces that it proposes to undertake a non-brokered private placement (the “Placement”) of up to 5 million Units of the Company (the “Units”) at a price of $0.16 per Unit to raise aggregate gross proceeds of up to $800,000. Each Unit will consist of one common share of the Company and one share purchase warrant with each warrant entitling the holder to purchase one additional share of the Company at a price of $0.20 per share for three years.

The securities issued as part of the Placement will be subject to a hold period of four months plus one day from the date of issue.

Closing of the Placement is expected to occur on or about February 15, 2023.

Insiders of the Company may participate in the Placement.  As such, the issuance of Units to insiders pursuant to the Placement would be considered a related party transaction within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company would rely on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that any participation in the Placement by insiders would not exceed 25% of the fair market value of the Company’s market capitalization. The Company will file a material change report in respect of any related party transaction in connection with the Placement.

A Finder’s Fees of up to 7% Finder’s Units may be payable in connection with the Placement. Each Finder’s Unit will consist of one common share of the Company and one non-transferable share purchase warrant with each warrant entitling the holder to purchase one additional share of the Company at a price of $0.20 per share for 3 years.

Proceeds of the Placement are expected to be used for the 7,081-meter (from 97 drill holes) Minago PGM assay program, and general corporate purposes.

About Flying Nickel

Flying Nickel Mining Corp. is a premier nickel sulphide mining and exploration company.  The company is advancing its 100% owned Minago nickel project in the Thompson nickel belt in Manitoba, Canada.

Further information on the Company can be found at www.flynickel.com.

FLYING NICKEL MINING CORP.

ON BEHALF OF THE BOARD

John Lee

Interim Chief Executive Officer

For more information about the Company, please contact:

Phone: Phone: 1.877.664.2535 / 1.877.6NICKEL

Email:  info@flynickel.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, including statements which may contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management’s expectations regarding Flying Nickel’s future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.

These factors should be considered carefully, and readers should not place undue reliance on the Flying Nickel’s forward-looking statements. Flying Nickel believes that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given that these expectations will prove to be correct. In addition, although Flying Nickel has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Flying Nickel undertakes no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.

Nevada Vanadium Mining Corp. Announces Private Placement Offering of Up To 2,000,000 Units for Gross Proceeds of Up To $280,000

Vancouver, British Columbia, January 26, 2023 – Nevada Vanadium Mining Corp. (“Nevada Vanadium” or the “Company”) announces that it proposes to undertake a non-brokered private placement (the “Placement”) of up to 2 million Units of the Company (the “Units”) at a price of $0.14 per Unit to raise aggregate gross proceeds of up to $280,000. Each Unit will consist of one common share of the Company and one share purchase warrant with each warrant entitling the holder to purchase one additional share of the Company at a price of $0.18 per share for 3 years. 

The securities issued as part of the Placement will be subject to a hold period of four months plus one day from the date of issue. 

Closing of the Placement is expected to occur on or about February 15, 2023. 

Insiders of the Company may participate in the Placement.  As such, the issuance of Units to insiders pursuant to the Placement would be considered a related party transaction within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company would rely on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that any participation in the Placement by insiders would not exceed 25% of the fair market value of the Company’s market capitalization. The Company will file a material change report in respect of any related party transaction in connection with the Placement.

A Finder’s Fees of up to 7% Finder’s Units may be payable in connection with the Placement. Each Finder’s Unit will consist of one common share of the Company and one non-transferable share purchase warrant with each warrant entitling the holder to purchase one additional share of the Company at a price of $0.18 per share for 3 years.

Proceeds of the Placement are expected to be used for project advancement, working capital and general corporate purposes. 

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Nevada Vanadium Mining Corp.

Nevada Vanadium Mining Corp. is a Canadian reporting issuer, holding a 100% interest in the Gibellini Vanadium project in Nevada, United States.

 
To find out more about Nevada Vanadium, visit  www.nevadavanadium.com

NEVADA VANADIUM MINING CORP.

ON BEHALF OF THE BOARD

“Ron Espell”

CEO 

For more information about Nevada Vanadium, please contact Investor Relations: info@nevadavanadium.com

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, including statements which may contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions, and statements related to matters which are not historical facts are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management’s expectations regarding Company’s future growth, results of operations, performance, and business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.

These factors should be considered carefully, and readers should not place undue reliance on the Company’s forward-looking statements. The Company believes that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given that these expectations will prove to be correct. In addition, although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events, or results not to be as anticipated, estimated, or intended. The Company undertakes no obligation to publicly release any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.

Flying Nickel Provides Minago Nickel PGM Project Update On Environmental Act License, Impact Benefit Agreement, Feasibility Study

Vancouver, British Columbia , January 17, 2023 – Flying Nickel Mining Corp. (“Flying Nickel” or the “Company”) (TSX-V:FLYN, OTCQB:FLYNF) is pleased to provide the following update on its Minago Nickel Platinum-Group-Metals project (”Minago Project”) located in the Thompson Nickel Belt in Canada:

Environmental Act License and Notice of Alternation

The Environmental Act License (“EAL”) for the Minago Project was approved in 2011 pending a Notice of Alteration (“NOA”) request, issued by the Manitoba government in 2014 involving a change to the Tailings and Waste Rock Management facility 

Flying Nickel prepared and submitted the response to the Notice of Alternation in late 2021. In June 2022, Flying Nickel submitted additional technical information and an executive summary regarding the Minago Project by request. The Company has not received further comments from the ministry and anticipates the NOA review to be completed in the first half of 2023. A rectified Environmental Act License will permit the construction of a mine that supports a 10,000 tonne-per-day open-pit mining operation at the Minago Project in Manitoba.

Impact Benefit Agreement with Norway House Cree Nations 

Norway House Cree Nations (“NHCN”) and Flying Nickel have been working towards finalizing the Impact Benefit Agreement (“IBA”) since the signing of a Relationship and Benefits Memorandum of Understanding (“MOU”, refer to news release dated March 9, 2022) to advance the development of the Minago Project. The IBA highlights include (i) establishing a cooperative and mutually respectful long-term relationship; (ii) providing employment capacity support and economic opportunities to NHCN and its members; (iii) securing NHCN’s support with respect to certain regulatory approvals for Minago; and (iv) a joint effort to minimize unforeseen disruption and providing certainty for investment, access, and ownership of resource rights in respect of Minago.

The IBA development process had identified additional areas of co-operation via the production and marketing of limestone (Dolomite) and granite by-products from the Minago Project pre-stripping. 

The IBA and NOA once signed will significantly advance the the development of Minago, one of the largest open-pit optimized greenfield Nickel PGM projects in Canada, potentially having one of the lowest carbon footprint mining operations in the world, utilizing Manitoba’s renewable hydro electricity generation and electrified mining fleet.

Feasibility Study

The commissioning of Minago Feasibility Study started in late Q1 2022. The study is a collaboration amongst Lycopodium (project cost estimate, processing and infrastructure), AGP Mining Consultants (mineral reserves, pit optimization), Mercator Geological Services (geology and mineral resource), and Trek Geotechnical (geotechnical, tailings and waste management). Substantial portions of the Feasibility Study is complete

The Company and its consultants, including Qualified Persons, have identified approximately 7,061 meters of sections in 97 holes to assay for PGM. The Company’s objective is to publish a maiden PGM resource for the Minago Project to be potentially incorporated into ongoing Minago Feasibility Study in 2023, providing definitive project economics to help the Company reach project construction decisions and conclude project financing.

“The recent drill results by Flying Nickel confirmed significant Platinum Group Metals credits. They add a new dimension to our already unique Minago nickel project. Other outstanding project features include an open pit optimized resource, 0.74% high nickel grades, and convenient infrastructure access such as being 1.5km from a 75kV power line and a paved provincial highway.

Investors can expect PGM assay results throughout first and second quarters of 2023 ”

commented John Lee, Interim CEO.

Concurrently SGS has been engaged since November 2022 to conduct tests to optimize PGM recovery in nickel concentrate with initial results anticipated in 1st half of 2023 

About the Minago Project

Flying Nickel 100% owned Minago Nickel PGM project, located at Canada’s Thompson Nickel Belt currently has a NI 43-101 compliant open-pit and underground Measured and Indicated resource of 44.2 million tonnes grading 0.74% Ni (722 million lbs contained nickel) and Inferred resource of 19.6 million tonnes also grading 0.74% Ni (319 million lbs contained nickel). The resource split is approximately 78% Nose deposit and 22% North Limb deposit at Minago. This technical report, completed by Mercator and AGP, has an effective date of February 28, 2022, and is available under the Company’s profile on SEDAR.

Qualified Person

The technical contents of this news release have been prepared under the supervision of Michael Hartley, P.Geo. and he approves its content. Mr. Hartley is not independent of the Company in that he is employed by it. Michael Hartley is a Qualified Person as defined by the guidelines in NI 43-101.

About Flying Nickel

Flying Nickel Mining Corp. is a premier nickel sulphide mining and exploration company.  The company is advancing its 100% owned Minago nickel project in the Thompson nickel belt in Manitoba, Canada.

Further information on the Company can be found at www.flynickel.com.

FLYING NICKEL MINING CORP.

ON BEHALF OF THE BOARD

John Lee

Interim Chief Executive Officer

For more information about the Company, please contact:

Phone: Phone: 1.877.664.2535 / 1.877.6NICKEL

Email:  info@flynickel.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, including statements which may contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management’s expectations regarding Flying Nickel’s future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.

These factors should be considered carefully, and readers should not place undue reliance on the Flying Nickel’s forward-looking statements. Flying Nickel believes that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given that these expectations will prove to be correct. In addition, although Flying Nickel has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Flying Nickel undertakes no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.

Flying Nickel Reports Multiple Platinum and Palladium Intersections of Upto 9.4g/t From Historic Minago Drill Holes. Further PGM Assays Pending from 97 Drill Holes (7,061 meters of sections)

Vancouver, British Columbia, January 16, 2023 – Flying Nickel Mining Corp. (“Flying Nickel” or the “Company”) (TSX-V:FLYN, OTCQB:FLYNF) announces it has engaged SGS Canada and started assaying platinum, palladium, and gold from 97 past drill holes (totaling 7,061 meters in drilling) from the Company’s 100% owned Minago Nickel Platinum-Group-Metals project (the “Minago Project”). Rolling assay results will start becoming available in early March. This platinum-group-metals (“PGM”) assay program is scheduled to complete in June 2023, potentially leading to a maiden Minago PGM resource. 

The Minago Project is located in Canada’s Thompson Nickel Belt and currently has a NI 43-101 compliant open-pit optimized and underground, Measured and Indicated resource of 44.2 million tonnes grading 0.74% Ni (722 million lbs contained nickel) and Inferred resource of 19.6 million tonnes grading 0.74% Ni (319 million lbs contained nickel). The resource split is approximately 78% Nose deposit and 22% North Limb deposit at Minago. This technical report, completed by Mercator and AGP, has an effective date of February 28, 2022, and is available under the Company’s profile on SEDAR.

There has been cumulative 90,783 meters of drilling at the Minago Project by 6 operators since 1966. Additionally, Flying Nickel drilled 2,718 meters in 2022 since acquiring the Minago Project in February 2021. Upon detailed review of Minago Project data set, the Company noted:

1. 118 of 150 boreholes (79%) that intersected the proposed Nose deposit pit shell are missing PGM assays. Prior operators may have only been interested in nickel due to the low value of PGM at the time. Across the entire Minago Project, only 52 boreholes contain PGM analysis.

1. There is a close correlation between PGM grades and total nickel grades with R-squared (Pd) = 0.8296, and R-squared (Pt) = 0.7422. Notable PGM results from representative Minago Project’s Nose and North Limb deposit sections are tabulated below:

PGM Assays From Drill Holes By Flying Nickel in 2022

PGM Assays From Drill Holes By Prior Minago Project Operators

Detection limit is 10 ppm for Ni, 10 ppm for Cu, 10 ppm for Co, 5 ppb Au, 10 ppb Pt and 5 ppb Pd. When calculating composite grades, half the detection limit value was used when assay results were less than the detection limit. Composite grades are weighted by sample length. True widths are approximately half the width observed in core. 

Reported results are from historic boreholes, drilled by Victory Nickel, and are intended to highlight PGM grades and the correlation between nickel and PGM throughout the resource, including both the Nose and North Limb deposits.

NiEq % (Resource) = ( (Ni% x 22.04 x Ni Price $/lb) + (Cu% x 22.04 x Cu Price $/lb)  + (Pt gpt / 31.1035) x Pt $/oz +(Pd gpt / 31.1035) x Pd $/oz + (Au gpt / 31.1035) x Au $/oz)/(22.04 x Ni $/lb). This calculation assumes 100% recovery rates and does not include Cobalt due to a lack of data. Calculation is an estimation of resource potential. Metal prices are Ni $12.4/lb, Cu $4.1/lb, Pd $1,721/oz, Pt $1,068/oz, Au $1,904/oz based on January 13, 2023

A high degree of correlation between PGM and Nickel has been observed in the existing assay results, the correlation between PGM & Ni plot can be found below:

The tabulated results are distributed across the Nose and North Limb of the deposit a. They demonstrate the dispersion of PGM throughout the deposit, shown on the map below:

Total length of PGM assay sections and number of boreholes is estimated. Maps and charts are available at www.flynickel.com

The Company and its consultants, including Qualified Persons, have identified approximately 7,061 meters of sections in 97 holes to assay for PGM. The Company’s objective is to publish a maiden PGM resource for the Minago Project. 

“The recent drill results by Flying Nickel confirmed significant Platinum Group Metals credits. They add a new dimension to our already unique Minago nickel project. Other outstanding project features include an open pit optimized resource, 0.74% high nickel grades, and convenient infrastructure access such as being 1.5km from a 75kV power line and a paved provincial highway.

Investors can expect PGM assay results throughout first and second quarters of 2023”, commented John Lee, Interim CEO.

PGM Metallurgy and Recovery

The PGM presence was notable in Minago nickel bulk concentrate from prior metallurgical studies by SGS in 2010 with 0.54% nickel head grade. The concentrate contains 22.3% Ni, 1.4% Cu, 0.46% Co, 2.47 g/t Pt, 6.31 g/t Pd, 0.63 g/t Au, 4.3 g/t Ag, and 0.59 g/t Rh.

SGS has been engaged since November 2022 to conduct tests to optimize PGM recovery which could enhance the Minago Project economics with initial results anticipated in the 1st half of 2023.

Qualified Person

The technical contents of this news release have been prepared under the supervision of Michael Hartley, P.Geo. and he approves its content. Mr. Hartley is not independent of the Company in that he is employed by it. Michael Hartley is a Qualified Person as defined by the guidelines in NI 43-101.

About Flying Nickel

Flying Nickel Mining Corp. is a premier nickel sulphide mining and exploration company.  The company is advancing its 100% owned Minago nickel project in the Thompson nickel belt in Manitoba, Canada.

Further information on the Company can be found at www.flynickel.com.

FLYING NICKEL MINING CORP.

ON BEHALF OF THE BOARD

John Lee

Interim Chief Executive Officer

For more information about the Company, please contact:

Phone: Phone: 1.877.664.2535 / 1.877.6NICKEL

Email:  info@flynickel.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, including statements which may contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management’s expectations regarding Flying Nickel’s future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.

These factors should be considered carefully, and readers should not place undue reliance on the Flying Nickel’s forward-looking statements. Flying Nickel believes that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given that these expectations will prove to be correct. In addition, although Flying Nickel has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Flying Nickel undertakes no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.

Silver Elephant’s El Triunfo East Block Drills 25.7 meters of 1.1g/t AuEq in Bolivia, All Three TEB Drill Holes Encountered Gold Mineralisation.

Vancouver, British Columbia, January 12, 2023 – Silver Elephant Mining Corp. (“Silver Elephant”, or the “Company”) (TSX: ELEF, OTCQX: SILEF, Frankfurt: 1P2N) announces diamond drilling results from the Company’s 100%-controlled El Triunfo gold-silver project located 75 km east of La Paz city, Bolivia. Five holes totaling 1,500 meters were drilled on El Triunfo West Block (“TWB”) and newly discovered El Triunfo East Block (“TEB”) based on induced polarization (“IP”) geophysical anomalies identified in 2021.

Triunfo Drill Hole Collar Plan

TR-009 encountered 14 meters of 2.5 g/t AuEq and TR010 drilled 1.2 meters of 7.7 g/t within 45 meters grading 0.7 AuEq (see Company’s press release dated April 4, 2022). TR009 and TR010 were drilled at eastern and western edges of the Triunfo West block (known strike 750 meters, “TWB”) and successfully expanded the mineralized width and open up the exploration prospects immediately west of the TWB.

TR011, -012, -013 are drilled at wide spacing at the Triunfo East block (“TEB”), a 1.5 kilometer extension to the TWB that is separated by a fault that resulted in this area being previously unexplored until recently.

TR-011 encountered separate intersections of 2 meters of 2.87 g/t AuEq (0.42 g/t Au, 81 g/t Ag, 2.04% Pb, 4 meters of 1.72 g/t AuEq (0.34 g/t Au, 46 g/t Ag, 1.16% Pb, 0.78% Zn), and 1.29% Zn), and 1 meter of 3.5 g/t AuEq (1.4 g/t Au, 75 g/t Ag, 1.82% Pb, and 2.35% Zn) within 298 meters grading 0.14 AuEq, starting from 2 meters downhole.

TR-012 encountered 2 meters of 1.3 g/t AuEq (0.94 g/t Au, 11 g/t Ag, 0.30% Pb, 0.21% Zn), 1 meter of 2.76 AuEq (0.34 g/t Au, 45 g/t Ag, 1.15% Pb, 3.04% Zn), 1 meter of 3.4 AuEq (2.7 g/t Au, 26 g/t Ag, 0.671% Pb, 0.583% Zn), and 2 meters of 2.1 g/t AuEq (1.54 g/t Au, 12 g/t Ag, 0.47% Pb, and 0.76% Zn).

TR-013 encountered 25.7 meters of 1.1 g/t AuEq (0.4 g/t Au, 27 g/t Ag, 0.88% Pb, 0.58% Zn), 3 meters of 3.3 AuEq (1.1 g/t Au, 74 g/t Ag, 2.82% Pb, 1.47% Zn), and 2.6 meters of 1.98 AuEq (0.13 g/t Au, 70.3 g/t Ag, 1.72% Pb, 0.68% Zn).

John Lee, CEO of Silver Elephant states: The results from drill holes TR-011, TR-012 and TR-013 triples the strike length of the Truinfo polymetallic target which is now over 2 kilometers long and indicate that a large mineralizing system is present with notable high grade intercepts. Additional geologic work will be conducted to determine the lithologic and structural controls of the mineralization to come up with high grade drill targets.

Reported results are tabulated below:

*AuEq: Gold equivalent calculation uses a gold price of $1,815, a zinc price of $1.38, a lead price of $1.07, and a silver price of $24.00 (all USD) and assumes a 100% metallurgical recovery. Gold equivalent values can be calculated using the following formula: AuEq = Au g/t + (Ag g/t x 0.0102) + (Zn % x 0.3551) + (Pb % x 0.3055). Core widths are not true widths. True widths are estimated to range between 45-78% of true widths based on core angle measurements.

Visit www.silverelef.com for El Triunfo maps.

Quality Assurance and Quality Control

Silver Elephant adopts industry-recognized best practices in its implementation of QA/QC methods. Rock chip samples average between 5-7 kilograms. Samples are shipped to ALS Global Laboratories in Ururo, Bolivia for preparation and then shipped to ALS Global laboratories in Lima, Peru for analysis. Samples are analyzed using Intermediate Level Four Acid Digestion. Silver overlimits (“ore grade”) are analyzed using fire assay with a gravimetric finish. The ALS Laboratories sample management system meets all the requirements of International Standards ISO/IEC 17025:2017 and ISO 9001:2015. All ALS geochemical hub laboratories are accredited to ISO/IEC 17025:2017 for specific analytical procedures. A geochemical standard control samples are inserted into the sample stream. The laboratory also includes duplicates of samples, standards and blanks for additional QA/QC. Check assays are reviewed prior to the release of data. Assays are also reviewed for their geological context and checked against field descriptions.

Qualified Person

Mr. Michael R. Schuler supervised the preparation of this news release and approved the scientific and technical information in it. Mr. Schuler is a qualified person as defined by the guidelines in NI 43-101 and is is independent of Silver Elephant Mining Corp.

About Silver Elephant

Silver Elephant Mining Corp. is a premier silver mining and exploration company that is developing 100% owned Pulacayo silver and El Triunfo gold projects in Bolivia. Silver Elephant also owns 100% of Mega Thermal Coal Corp. and 39% of Oracle Commodity Holding Corp. with equity and royalty holdings in nickel and vanadium.

Further information on Silver Elephant can be found at www.silverelef.com

SILVER ELEPHANT MINING CORP.

ON BEHALF OF THE BOARD

“John Lee”

Executive Chairman

Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, including statements which may contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management’s expectations regarding Silver Elephant’s future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.

These factors should be considered carefully, and readers should not place undue reliance on the Silver Elephant’s forward-looking statements. Silver Elephant believes that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given that these expectations will prove to be correct. In addition, although Silver Elephant has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Silver Elephant undertakes no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.

Silver Elephant Delivers Additional 6,600 Tonnes of Coal to China from its Ulaan Ovoo Mine in Mongolia

Vancouver, British Columbia, January 11, 2023 – Silver Elephant Mining Corp. (“Silver Elephant” or “the Company”) (TSX: ELEF, OTCQX: SILEF, Frankfurt:1P2N) announces that, further to its news release dated December 28, 2022, and November 21, 2022, an additional 6,600 tonnes of coal in two separate rail shipments have arrived in Tianjin seaport in China from its Ulaan Ovoo mine in Mongolia. In total, 9,766 tonnes (three rail shipments) of coal have been exported to China since the cross-border sales started on December 9, 2022. Tianjin is a major Chinese seaport and exposes Ulaan Ovoo coal to international seaborne coal pricing.

“Bringing Ulaan Ovoo coal to Tianjin is a monumental achievement for the Company. This means potentially broader market reach; and the indexing of Ulaan Ovoo coal sales price to international seaborne pricing with transparency. 

We are onto a good start in 2023 to reach our sales target of 200,000 to 500,000 tonnes. The Company has received additional coal purchase interests from several international buyers. Every coal sale generates profits for Silver Elephant as our Mongolia operating partner is responsible for coal extraction.”   commented John Lee, CEO of Silver Elephant.

For each shipment, approximately 3,000 tonnes of Ulaan Ovoo coal were loaded onto 50 wagons (driven by a dedicated Ulaanbaatar railway locomotive) at Mongolia’s Sukhbaatar station (Sales Delivery Point). The train traveled south bound, arriving at China’s Erlian port where the coal was unloaded. The coal may then be picked up and further transported within the China rail network. As of the date of this news release, the wagons have been returned to Sukhbaatar to start the fourth run.

The Company holds 100% of the rights to the Ulaan Ovoo mineral claims and mining licenses. The Company and its Mongolian operating partner have agreed to share the proceeds from coal sales from stockpiled coal sales on a 50-50 basis until June 30, 2023. There are approximately 75,000 tonnes of coal mined by the Mongolian operating partner stockpiled at the Ulaan Ovoo mine site and the nearby Sukhbaatar rail siding.

About Mega Thermal Coal Corp.

Mega Thermal Coal Corp. is a wholly-owned subsidiary of Silver Elephant, which owns and operates the Ulaan Ovoo mine. Mega Thermal Coal Corp. also owns and operates Chandgana Khavtgai and Chandgana Tal coal mines in Mongolia.

Further information on Mega Coal can be found at www.megacoal.ca.

About Silver Elephant Mining Corp.

Silver Elephant Mining Corp. is a premier silver mining and exploration company, with its flagship Pulacayo silver project in Bolivia. It also owns 100% of Mega Thermal Coal Corp and 39% of Oracle Commodity Holding Corp. (“Oracle”). Oracle has equity and royalty investments in nickel and vanadium mining companies.

Further information on Silver Elephant can be found at www.silverelef.com.

SILVER ELEPHANT MINING CORP.

ON BEHALF OF THE BOARD

John Lee
CEO

For more information about Silver Elephant, please contact Investor Relations:
+1.604.569.3661 ext. 101
info@silverelef.com / www.silverelef.com

Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements and Reader Advisory

Certain statements contained in this or other news release, including, but not limited to, statements with respect to the debt settlements, the terms of the debt settlements, and the completion of the debt settlements, among other things, and statements which may contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, “targets”, or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management’s expectations regarding either of Silver Elephant’s future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.

These factors should be considered carefully, and readers should not place undue reliance on Silver Elephant’s forward-looking statements. Silver Elephant believe that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable based on information available to it, but no assurance can be given that these expectations will prove to be correct. In addition, although Silver Elephant has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Silver Elephant undertakes no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.

Flying Nickel Drills 30.84 meters Grading 0.84% Nickel, 0.505 g/t PGM at the North Limb within the Minago Project in Canada’s Thompson Nickel Belt

Vancouver, British Columbia, November 14, 2022 – Flying Nickel Mining Corp. (“Flying Nickel” or the “Company”) (TSX-V:FLYN, OTCQB:FLYNF) announces the diamond drill results from the Company’s 100% owned  Minago nickel sulphide project 270km south of  Thompson, Manitoba. Six holes totaling 2,718 meters were drilled this past winter. Assay results for the first three holes of the program were reported on October 11, 2022. Assays have been received for the remaining holes in the program.

FN-22-05 intersected 0.84% Ni, 0.04% Cu, 0.01% Co, 0.164 g/t Pt, 0.319 g/t Pd, and 0.022 g/t Au, over 30.84 meters including 1.40% Ni, 0.06% Cu, 0.02% Co, 0.280 g/t Pt , 0.585 g/t Pd, and 0.039 g/t Au over 5.11 meters; and 1.17% Ni, 0.08% Cu, 0.02% Co, 0.230 g/t Pt, 0.442 g/t Pd and 0.014 g/t Au, over 6.75 meters. A second mineralized zone contained 0.73% Ni, 0.01% Cu, 0.01% Co, 0.196 g/t Pt, 0.357 g/t Pd, and 0.014 g/t Au, over 4.85 meters.

FN-22-05 is a 338 meter hole to test shallow mineralization near the center of North Limb deposit. The hole confirmed the presence of near surface nickel mineralization and demonstrated resource expansion potential at North Limb deposit both near surface and at depth (refer to reported North Limb drill hole FN-22-03 grading 0.41% Ni, 0.01% Cu, 0.01% Co, 0.033 g/t Pt, 0.096 g/t Pd and 0.006 g/t Au over 113.55 meters at depth in a news release on September 7, 2022).

John Lee, interim CEO states: Flying Nickel successfully delivered our first drill program at Minago Nickel PGM project at Thompson nickel belt since the Company acquired the project in 2021. We are pleasantly surprised of the robust PGM grades assayed (correlated to nickel grades) in our Minago drill holes. There has been with very little PGM reference in previous Minago technical reports and Flying nickel plans to develop this potential PGM resource to add to Minago project economics, as well as to grow global Minago resource by drilling North Limb and several regional targets in 2023.

Reported results* are tabulated below:

*Detection limit is 10 ppm for Ni, 10 ppm for Cu, 10 ppm for Co, 5 ppb Au, 10 ppb Pt and 5 ppb Pd. When calculating composite grades, half the detection limit value was used when assay results were less than the detection limit. Composite grades are weighted by sample length. True widths are approximately half the width observed in core.

FN-22-04 was drilled approximately 200 meters north of the North Limb Deposit into a previously untested VTEM conductor. 1.4 meters of semi-massive sulphide was intersected at 498.4 meters which coincides with the location of the VTEM conductor. Several narrow ultramafic bodies were intersected, indicating that the ultramafic assemblage extends north of the North Limb Deposit. The maximum nickel grade for the ultramafic is 0.45% Ni over 1.90 meters.

FN-22-06 was the final hole drilled in the 2022 Winter Program to test a magnetic anomaly northwest of the Nose Deposit. The hole did not intersect ultramafic material or significant nickel mineralization. The source of the magnetic anomaly was determined to be magnetite bearing granite.

On April 8, 2020, the previous property owner, Victory Nickel issued a Press Release that was filed on Sedar. The release stated that two condemnation holes were completed in the northern part of the property. The release also stated that due to the ongoing Covid 19 pandemic, processing of the core would be significantly delayed. The holes were logged and sampled by Flying Nickel personnel earlier this year. Assay results confirm that holes VM-20-01 and VM-20-02 contain no significant nickel mineralization.

Minago Project Update

Flying Nickel further announces Feasibility Study (“FS”) is nearing completion, prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) in respect of its Minago nickel project, located in the Thompson nickel belt, Manitoba, Canada.

The FS is a collaboration amongst Lycopodium (project cost estimate, processing and infrastructure), AGP Mining Consultants (mineral reserves, pit optimization), Mercator Geological Services (geology and mineral resource), and Trek Geotechnical (geotechnical, tailings and waste management).

Minago currently has an NI 43-101 compliant Measured and Indicated resource of 722Mlbs contained nickel grading 0.74% and Inferred resource of 319Mlbs contained nickel also grading 0.74%. The resource split is approximately 78% Nose and 22% North Limb. This technical report, completed by Mercator and AGP, has an effective date of February 28, 2022, and is available under the Company’s profile on SEDAR. A majority of the resource is open pit optimized.

The FS will adhere to the parameters in the approved 2011 Environmental Act License (“EAL”), which permits a 10,000 tonne-per-day open-pit mining operation at Minago. The EAL is pending the approval of a Notice of Alteration (“NOA”) submitted in late 2021 involving a minor change to the plant layout. This is the final permitting hurdle for Flying Nickel to commence Minago mine construction.

Qualified Person

The technical contents of this news release have been prepared under the supervision of Robert Smith, P.Geo. and he approves its content. Mr. Smith is not independent of the Company in that he is employed by it.  Mr. Smith is a Qualified Person as defined by the guidelines in NI 43-101.

About Flying Nickel

Flying Nickel Mining Corp. is a premier nickel sulphide mining and exploration company.  The company is advancing its 100% owned Minago nickel project in the Thompson nickel belt in Manitoba, Canada.

Further information on the Company can be found at www.flynickel.com.

FLYING NICKEL MINING CORP.

ON BEHALF OF THE BOARD

John Lee

Interim Chief Executive Officer

For more information about the Company, please contact:

Phone: Phone: 1.877.664.2535 / 1.877.6NICKEL

Email:  info@flynickel.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, including statements which may contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management’s expectations regarding Flying Nickel’s future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.

These factors should be considered carefully, and readers should not place undue reliance on the Flying Nickel’s forward-looking statements. Flying Nickel believes that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given that these expectations will prove to be correct. In addition, although Flying Nickel has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Flying Nickel undertakes no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.

Flying Nickel Drills 69.6 meters Grading 1.10% Nickel, 0.60 g/t PGM at the Minago Nickel Project in Canada’s Thompson Nickel Belt

Vancouver, British Columbia , October 11, 2022 – Flying Nickel Mining Corp. (“Flying Nickel” or the “Company”) (TSX-V:FLYN, OTCQB:FLYNF) announces diamond drill results from the Company’s 100% owned  Minago nickel sulphide project 270km south of  Thompson, Manitoba. Six holes totaling 2,718 meters were drilled this past winter. Assays have been received for the first three holes of the program.

FN-22-01 intersected 1.10% Ni, 0.05% Cu, 0.01% Co, 0.026 g/t Au, 0.192 g/t Pt and 0.383 g/t Pd over 69.6 meters including 1.69% Ni, 0.13% Cu, 0.055g/t Au, 0.33g/t Pt, and 0.679 g/t Pd over 7.57 meters.

FN-22-02 intersected 0.79% Ni, 0.05% Cu, 0.01% Co, 0.015 g/t Au, 0.103 g/t Pt and 0.207 g/t Pd over 113.24 meters including 1.25% Ni, 0.09 Cu, 0.02% Co, 0.035 g/t Au, 0.186 g/t Pt, 0.373 g/t Pd over 23.78 meters.

The Company anticipates assay results from remaining three Minago diamond drill holes in November.

John Lee, CEO of Flying Nickel states: “We are delighted to observe broad intercepts of significant nickel mineralisation, along with platinum and palladium assays (up-to to 1g/t Pt+Pd) in all three reported Minago drill holes. The Company will immediately commence metallurgical testing and explore value-added circuit designs to potentially extract precious metals from Minago concentrate as part of the on going Minago Feasibility Study to be published by early 2023.”

Reported results* are tabulated below:

*Detection limit is 10 ppm for Ni, 10 ppm for Cu, 10 ppm for Co, 5 ppb Au, 10 ppb Pt and 5 ppb Pd. When calculating composite grades, half the detection limit value was used when assay results were less than the detection limit. Composite grades are weighted by sample length. True widths are approximately half the width observed in core.

FN-22-01 is a 567 meter infill drill hole located at the eastern part of Minago’s main Nose deposit.   Approximately 483 meters of ultramafic rocks were observed containing varying percentages of disseminated mineralization. Three zones of anomalous nickel were identified. The most significant zone contained 1.10% Ni, 0.05% Cu, 0.01% Co, 0.026 g/t Au, 0.192 g/t Pt and 0.383 g/t Pd over 69.6 meters. The drilling confirmed the location of the upper mineralized zone with grades slightly higher than the 1.02% Ni over 90 meters that was intersected in the historic adjacent hole, NM-06-02.

FN-22-02 is a 407 meter infill drill hole located at the western part of the Nose deposit. 266 meters of ultramafic rocks containing varying percentages of disseminated mineralization was intersected. The zone of significant mineralization contained 0.79% Ni, 0.05% Cu, 0.01% Co, 0.015 g/t Au, 0.103 g/t Pt and 0.207 g/t Pd over 113.24 meters. This is slightly better than the 0.71% Ni over 110 meters that was intersected in the historic adjacent hole, MXB-71-94.

Drill hole FN-22-03 was drilled to test the down dip extension of previously drilled nickel mineralization in the North Limb deposit. The hole confirmed the continuation at depth beyond the previously drilled maximum depth of approximately 250 meters from surface. Partial results were reported in the September 7, 2022 Flying Nickel news  release. Additional assays demonstrated further mineralization at depth of higher nickel grades. Overall, the hole intersected 0.46 % Ni, 0.02% Cu, 0.01% Co, 0.006 g/t Au, 0.041 g/t Pt and 0.110 g/t Pd over 108.59 meters with several higher grade concentrations of up to 0.69% Ni over 15.36 meters.

Qualified Person

The technical contents of this news release have been prepared under the supervision of Robert Smith, P.Geo.  Mr. Smith is not independent of the Company in that he is employed by it.  Mr. Smith is a Qualified Person as defined by the guidelines in NI 43-101.

About Flying Nickel

Flying Nickel Mining Corp. is a premier nickel sulphide mining and exploration company.  The company is advancing its 100% owned Minago nickel project in the Thompson nickel belt in Manitoba, Canada.

Further information on the Company can be found at www.flynickel.com.

FLYING NICKEL MINING CORP.

ON BEHALF OF THE BOARD

John Lee

Interim Chief Executive Officer

For more information about the Company, please contact:

Phone: Phone: 1.877.664.2535 / 1.877.6NICKEL

Email:  info@flynickel.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, including statements which may contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management’s expectations regarding Flying Nickel’s future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.

These factors should be considered carefully, and readers should not place undue reliance on the Flying Nickel’s forward-looking statements. Flying Nickel believes that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given that these expectations will prove to be correct. In addition, although Flying Nickel has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Flying Nickel undertakes no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.

Flying Nickel Signs Definitive Agreement to Acquire Nevada Vanadium

VANCOUVER, British Columbia, October 7, 2022 – Flying Nickel Mining Corp. (TSX-V: FLYN; OTCQB: FLYNF) (“Flying Nickel”) and Nevada Vanadium Mining Corp. (formerly 1324825 B.C. Ltd.) (“Nevada Vanadium”) are pleased to announce that they have entered into a definitive arrangement agreement dated October 6, 2022 (the “Arrangement Agreement”) pursuant to which Flying Nickel will acquire all of the issued and outstanding common shares of Nevada Vanadium (the “Nevada Vanadium Shares”) by way of a court-approved plan of arrangement (the “Transaction”).

Under the terms of the Transaction, Nevada Vanadium shareholders are expected to receive one (1) (the “Exchange Ratio”) Flying Nickel common share (a “Flying Nickel Share”) for each Nevada Vanadium Share held immediately prior to the effective time of the Transaction, representing the equivalent of $0.195 per Nevada Vanadium Share, based on the closing price of Flying Nickel Shares on the TSX Venture Exchange (the “TSXV”) on October 6, 2022. The convertible securities of Nevada Vanadium are expected to remain outstanding following completion of the Transaction, however, upon exercise, are expected to entitle the holder thereof to obtain Flying Nickel Shares subject to the terms of such convertible securities of Nevada Vanadium.

Currently, Flying Nickel has approximately 62 million shares outstanding, and Nevada Vanadium has approximately 53 million shares outstanding. Upon completion of the Transaction, the combined company (the “Resulting Issuer”) will be owned approximately 54% by Flying Nickel shareholders and 46% by Nevada Vanadium shareholders The Resulting Issuer is expected to continue to be listed on the TSXV as a mining issuer. Flying Nickel has received conditional approval from the TSXV in respect of the Transaction.

The implied equity value for Nevada Vanadium as of the date of the Arrangement Agreement based on the Exchange Ratio is approximately $7,847,907 based on the 20-day volume-weighted-average-price of Flying Nickel Shares on the TSXV as of close on October 6, 2022. Nevada Vanadium is a reporting issuer in each of the provinces and territories of Canada other than Quebec and the Nevada Vanadium Shares are not listed for trading on any stock exchange.

The Transaction is expected to close in December 2022 and is subject to customary deal protections with a mutual break fee of $2,000,000, payable under certain circumstances.

Full details of the Transaction will be included in the meeting materials to be prepare in respect of the Flying Nickel Meeting and Nevada Vanadium Meeting, which are expected to be mailed to the respective shareholders of Flying Nickel and Nevada Vanadium by November 2022.

Nickel and vanadium are both key ingredients in batteries and classified as critical metals* by U.S. Geological Survey. Flying Nickel’s Minago project and Nevada Vanadium’s Gibellini project are both entering into the final environmental permitting stages and are located in mining friendly districts in North America. The combined company will have one-of-a-kind mineral resource base and a dominant presence in the battery metals mining space.

* https://www.federalregister.gov/documents/2022/02/24/2022-04027/2022-final-list-of-critical-minerals

Board of Directors’ Recommendations

The Board of Directors of each of Flying Nickel and Nevada Vanadium has determined that the Transaction is in the best interests of its respective company and shareholders. Flying Nickel’s Board of Directors has unanimously approved the Transaction and will recommend that its shareholders vote in favour of approving the Transaction. Nevada Vanadium’s Board of Directors has unanimously approved the Transaction and will recommend that its shareholders vote in favour of the Transaction. Mr. John Lee noted his conflicts as a director of both Flying Nickel, Nevada Vanadium and abstained from participating in the Transaction process and from voting in connection with the approval of the Transaction by the Board of Directors of each company.

Related Party Transaction / Business Combination

Pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”), the Transaction constitutes a “related party transaction” for Flying Nickel and the Transaction constitutes a “business combination” for Nevada Vanadium due to the shareholding of Oracle Commodity Holding Corp. (“Oracle”) (formerly Battery Metals Royalties Corp.).

As of the date of the Arrangement Agreement, Oracle owned 22,953,991 common shares of Flying Nickel, representing approximately 35.1% of the outstanding Flying Nickel Shares, and 31,730,110 common shares of Nevada Vanadium, representing approximately 45.9% of the outstanding Nevada Vanadium Shares. As a result of these shareholdings, the Transaction will need to be approved on a “minority approval” basis in accordance with MI 61-101 by the shareholders of each of Flying Nickel and Nevada Vanadium, whereby any securities beneficially owned or over which control or direction is exercised by Oracle shall be excluded from voting. To this end, Flying Nickel will schedule a special meeting of its shareholders to approve the Transaction (the “Flying Nickel Meeting”) and Nevada Vanadium will schedule a special meeting of its shareholders to approve the Transaction (the “Nevada Vanadium Meeting”). The approval required under MI 61-101 in respect of the Transaction is a simple majority of votes of shareholders present in person or represented by proxy at the respective meetings after excluding the votes of any shares securities beneficially owned or over which control or direction is exercised by Oracle (in each case, “Majority of Minority Approval”). Majority of Minority Approval on the part of Flying Nickel and Nevada Vanadium is in addition to any other required shareholders approvals, as more particularly set forth below.

Each of Nevada Vanadium and Flying Nickel is exempt from the formal valuation requirement pursuant to section 4.4(1)(a) and 5.5(b) respectively of MI 61-101 as an issuer not listed on specified markets.

Additional Information

The Transaction is also subject to approval at a special meeting of Flying Nickel shareholders (the “Flying Nickel Meeting”) by at least a majority of the votes cast on the resolution to approve the Transaction by the minority Flying Nickel shareholders present in person or represented by proxy and entitled to vote at the Flying Nickel Meeting. The minority shareholders are defined by securities legislation and, among others, will exclude the shares of Flying Nickel held by Oracle Commodity Holding Corp. (formerly Battery Metals Royalties Corp.).

The Transaction is subject to approval at the Nevada Vanadium Meeting: (i) pursuant to the Business Corporations Act (British Columbia), by at least 66⅔% of the votes cast on the resolution to approve the Transaction by Nevada Vanadium shareholders present in person or represented by proxy and entitled to vote at the Nevada Vanadium Meeting; and (ii) pursuant to MI 61-101, on a Majority of the Minority Basis, as set out above.

To the extent permitted, each of the directors and senior officers of Flying Nickel, holding an aggregate of approximately 2,210,345 Flying Nickel Shares representing approximately 3.6% of the outstanding Flying Nickel Shares, have agreed pursuant to voting agreements to vote their Flying Nickel Shares in favour of the Transaction at the Flying Nickel Meeting, and each of the directors and senior officers of Nevada Vanadium, holding an aggregate of approximately 998,449 Nevada Vanadium Shares representing approximately 1.9% of the outstanding Nevada Vanadium Shares, have agreed to vote their shares in favour of the Transaction at the Nevada Vanadium Meeting. In addition, Oracle has agreed pursuant to a voting agreement to vote its shares of Nevada Vanadium in favour of the Transaction at the Nevada Vanadium Meeting.

In addition to the above noted shareholder approvals, the Transaction is also subject to approval of the British Columbia Supreme Court, as well as final acceptance of the TSXV.

About Nevada Vanadium Mining Corp.

Nevada Vanadium Mining Corp. is a Canadian reporting issuer, holding a 100% interest in the Gibellini Vanadium project in Nevada, United States.

About Flying Nickel Mining Corp.

Flying Nickel Mining Corp. is a premier nickel sulphide mining and exploration company. Flying Nickel is advancing its 100% owned Minago Nickel project in the Thompson nickel belt in Manitoba, Canada.

For further information, please contact:

Flying Nickel Mining Corp.

John Lee

Chief Executive Officer and Director

Flying Nickel Mining Corp.

www.flynickel.com

info@flynickel.com

1.877.664.2535 / 1.877.6NICKEL

Nevada Vanadium Mining Corp.

Ron Espell

Chief Executive Officer

Nevada Vanadium Mining Corp.

www.nevadavanadium.com

info@nevadavanadium.com

Forward-looking Statements and Cautionary Disclaimers

References to $ herein refer to the lawful currency of Canada and references to US$ herein refer to the lawful currency of the United States.

This news release is not an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

Completion of the Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance and if applicable, disinterested shareholder and court approval. Where applicable, the Transaction cannot close until the required shareholder and court approval is obtained.

There can be no assurance that the Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Flying Nickel and Nevada Vanadium should be considered highly speculative.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.

This news release contains certain “forward-looking statements” and “forward-looking information” under applicable Canadian and United States securities laws concerning the business, operations and financial performance and condition of each of Flying Nickel and Nevada Vanadium (collectively, the “Corporations”). Forward-looking statements and forward-looking information include, but are not limited to, statements with respect to estimated production and mine life of the Corporations’ projects; the realization of mineral reserve estimates; the timing and amount of estimated future production; costs of production; the future price of battery metals such as Nickel and Vanadium; the estimation of mineral reserves and resources; the ability to manage debt; capital expenditures; the ability to obtain permits for operations; liquidity; tax rates; strategic plans; future operations; future work programs and objectives; and currency exchange rate fluctuations. Except for statements of historical fact relating to the Corporations, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as “anticipates,” “may,” “can,” “plans,” “believes,” “estimates,” “expects,” “projects,” “targets,” “intends,” “likely,” “will,” “should,” “to be”, “potential” and other similar words, or statements that certain events or conditions “may”, “should” or “will” occur, including, without limitation, that all conditions precedent to the transaction will be met and the realization of the anticipated benefits derived therefrom for shareholders of the Corporations and the view on (i) the quality and the potential of the Corporations’ assets, (ii) the consideration offered to Nevada Vanadium’s shareholders, and (iii) the potential of the Resulting Issuer. Forward-looking statements are based on the opinions and estimates of management of each of the Corporations at the date the statements are made, and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Many of these assumptions are based on factors and events that are not within the control of the Corporations, there is no assurance they will prove to be correct and are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements.

Factors that could cause actual results to vary materially from results anticipated by such forward -looking statements include variations in ore grade or recovery rates, changes in market conditions, changes in project parameters, mine sequencing; production rates; cash flow; risks relating to the availability and timeliness of permitting and governmental approvals; supply of, and demand for, battery metals such as Nickel and Vanadium; fluctuating commodity prices and currency exchange rates, the possibility of project cost overruns or unanticipated costs and expenses, labour disputes and other risks of the mining industry, failure of plant, equipment or processes to operate as anticipated.

These factors are discussed in greater detail in Flying Nickel’s most recent MD&A filed on SEDAR, which also provide additional general assumptions in connection with these statements, and in Nevada Vanadium’s most recent MD&A filed on SEDAR, which also provide additional general assumptions in connection with these statements. The Corporations’ caution that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on forward-looking statements contained herein should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. The Corporations believe that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.

Although the Corporations have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Corporations undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. Statements concerning mineral reserve and resource estimates may also be deemed to constitute forward-looking statements to the extent they involve estimates of the mineralization that will be encountered as the property is developed. Further, the Corporations may make changes to their respective business plans that could affect results.

Flying Nickel and Nevada Vanadium Continue to Work towards Business Combination, Provide Project Updates

VANCOUVER, British Columbia, October 5, 2022 – Flying Nickel Mining Corp. (TSX-V: FLYN; OTCQB: FLYNF) (“Flying Nickel”) and Nevada Vanadium Mining Corp. (formerly 1324825 B.C. Ltd.) (“Nevada Vanadium”) announce that further to their joint press release dated August 23, 2022, Flying Nickel and Nevada Vanadium continue to work diligently with their respective advisors towards execution of a definitive transaction agreement in respect of the proposed acquisition of all of the issued and outstanding common shares of Nevada Vanadium by Flying Nickel by way of a court-approved plan of arrangement (the “Transaction”). Flying Nickel and Nevada Vanadium currently expect that a definitive transaction agreement will be executed by the parties within the next two weeks.

In addition, Nevada Vanadium is pleased to provide the following update:

The Notice of Availability for the Draft Environmental Impact Statement (“DEIS”) for Nevada Vanadium’s Gibellini Project located in Eureka County, Nevada, was published in the Federal Register on July 22, 2022, for a 45-day public review and comment period. A virtual public meeting was held on August 10, 2022, and open house public meetings were held on August 16-17 in Eureka and Ely, Nevada, and at the Duckwater Reservation on August 31.  The meetings had participation from the BLM, the US Environmental Protection Agency (EPA), the Duckwater tribal leaders and community members, Eureka County officials, and members of the public. The public review and comment period ended on September 6, 2022, and the BLM received total of 12 individual comment letters on the DEIS for the Project.  The Draft EIS is under revision to incorporate the comments into the Draft Final EIS for BLM and the cooperating agencies review in October 2022.

Upon completion of these reviews, the Final EIS (FEIS) will be developed, and the Notice of Availability (NOA) will be submitted to BLM and the Department of Interior (DOI) Headquarters for final review prior to publication in the Federal Register to start the 30-day public comment period for the FEIS.  Upon completion of the response to public comments, the EIS Record of Decision (“ROD”) will be developed completing the EIS in early 2023.  Operating permits from the State of Nevada are on track to be received on the same timeline as the ROD.

A renewable energy alternative was added to the EIS in response to EPA and DOI review.  This alternative includes 6 MW of solar panels and a 10 MW vanadium flow battery to provide 100% of the Gibellini project’s net electrical power demand. If selected by the BLM, the Gibellini project would be the first mine in the US completely powered by renewable energy. The Gibellini project would also be the first primary vanadium mine in the U.S.

“We have reached an important permitting milestone for the Gibellini project” Ron Espell, CEO of Nevada Vanadium noted. “The fact that we received only 12 public comment letters during the draft EIS public review and comment period is a testament to close and ongoing collaboration between Nevada Vanadium, project stakeholders, the local community and the environmental NGO’s. Development of the Draft Final EIS by the BLM and ICF based on stakeholder and public participation for the Gibellini Project is critical for the EIS process to work. We are looking forward to the Record of Decision, completing the State permitting, and moving towards project financing and the start of construction”

Further, Flying Nickel announces that it has submitted additional technical information and an executive summary regarding the Minago Nickel Project in June 2022 as part of the Notice of Alteration (“NOA”) filed in late 2021 involving a minor change to the plant layout to an approved 2011 Environmental Act License. Flying Nickel now anticipates the NOA review to complete by year end. A rectified Environmental Act License will permit a 10,000 tonne-per-day open-pit mining operation at Flying Nickel’s 100% owned Minago nickel project at the Thompson nickel belt in Manitoba.

About Nevada Vanadium Mining Corp.

Nevada Vanadium Mining Corp. is a Canadian reporting issuer, holding a 100% interest in the Gibellini Vanadium project in Nevada, United States.

About Flying Nickel Mining Corp.

Flying Nickel Mining Corp. is a premier nickel sulphide mining and exploration company. Flying Nickel is advancing its 100% owned Minago Nickel project in the Thompson nickel belt in Manitoba, Canada.

For further information, please contact:

Flying Nickel Mining Corp.

John Lee

Chief Executive Officer and Director

Flying Nickel Mining Corp.

www.flynickel.com

info@flynickel.com

1.877.664.2535 / 1.877.6NICKEL

Nevada Vanadium Mining Corp.

Ron Espell

Chief Executive Officer

Nevada Vanadium Mining Corp.

www.nevadavanadium.com

info@nevadavanadium.com

Forward-looking Statements and Cautionary Disclaimers

References to $ herein refer to the lawful currency of Canada and references to US$ herein refer to the lawful currency of the United States.

This news release is not an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

Completion of the Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance and if applicable, disinterested shareholder and court approval. Where applicable, the Transaction cannot close until the required shareholder and court approval is obtained. 

There can be no assurance that the Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Flying Nickel and Nevada Vanadium should be considered highly speculative. 

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.

This news release is not an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

This news release contains certain “forward-looking statements” and “forward-looking information” under applicable Canadian and United States securities laws concerning the business, operations and financial performance and condition of each of Flying Nickel and Nevada Vanadium (collectively, the “Corporations”). Forward-looking statements and forward-looking information include, but are not limited to, statements with respect to estimated production and mine life of the Corporations’ projects; the realization of mineral reserve estimates; the timing and amount of estimated future production; costs of production; the future price of battery metals such as Nickel and Vanadium; the estimation of mineral reserves and resources; the ability to manage debt; capital expenditures; the ability to obtain permits for operations; liquidity; tax rates; strategic plans; future operations; future work programs and objectives; and currency exchange rate fluctuations. Except for statements of historical fact relating to the Corporations, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as “anticipates,” “may,” “can,” “plans,” “believes,” “estimates,” “expects,” “projects,” “targets,” “intends,” “likely,” “will,” “should,” “to be”, “potential” and other similar words, or statements that certain events or conditions “may”, “should” or “will” occur, including, without limitation, that all conditions precedent to the transaction will be met and the realization of the anticipated benefits derived therefrom for shareholders of the Corporations and the view on (i) the quality and the potential of the Corporations’ assets, (ii) the consideration offered to Nevada Vanadium’s shareholders, and (iii) the potential of the resulting issuer from the Transaction. Forward-looking statements are based on the opinions and estimates of management of each of the Corporations at the date the statements are made, and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Many of these assumptions are based on factors and events that are not within the control of the Corporations, there is no assurance they will prove to be correct and are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements.

Factors that could cause actual results to vary materially from results anticipated by such forward -looking statements include variations in ore grade or recovery rates, changes in market conditions, changes in project parameters, mine sequencing; production rates; cash flow; risks relating to the availability and timeliness of permitting and governmental approvals; supply of, and demand for, battery metals such as Nickel and Vanadium; fluctuating commodity prices and currency exchange rates, the possibility of project cost overruns or unanticipated costs and expenses, labour disputes and other risks of the mining industry, failure of plant, equipment or processes to operate as anticipated.

These factors are discussed in greater detail in Flying Nickel’s most recent MD&A filed on SEDAR, which also provide additional general assumptions in connection with these statements, and in Nevada Vanadium’s most recent MD&A filed on SEDAR, which also provide additional general assumptions in connection with these statements. The Corporations’ caution that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on forward-looking statements contained herein should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. The Corporations believe that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.

Although the Corporations have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Corporations undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. Statements concerning mineral reserve and resource estimates may also be deemed to constitute forward-looking statements to the extent they involve estimates of the mineralization that will be encountered as the property is developed. Further, the Corporations may make changes to their respective business plans that could affect results. 

12 Interview with Flying Nickel’s John lee on Stock market, Nickel, EV, and Minago

John Lee’s 12 interviews on Stock market, Flying Nickel, Nickel, and EV.
Sit tight and You Can’t Afford to Miss!

https://www.youtube.com/watch?v=mqZQRsbQW7U

1Hour10min : Exclusive: Mining expert thinks Tesla has secured material for next 5 years growth, GM not so much!

21,512 views Sep 8, 2022

BestInTESLA

81.4K subscribers

https://www.youtube.com/watch?v=rEIWgimuafA

58min: Mine owner Flying Nickel says Tesla has massive advantage

10,797 views Sep 8, 2022

The Electric Viking

84.4K subscribers

https://www.youtube.com/watch?v=D437LIzCFLs

28min:  John Lee (Flying Nickel Mining Corp.) interview – High-grade nickel in Canada!

633 views Sep 7, 2022

Investor Talk

9.44K subscribers

https://www.youtube.com/watch?v=sZAkRyjV76c&t=170s

1 Full Hour: John Lee: World Demographics Will Derail the Commodities Supercycle

13,497 views Sep 7, 2022

Palisades Gold Radio

90.4K subscribers

https://www.youtube.com/watch?v=W6ISA1ogoJI&t=15577s

10min: Lee Talks About The Environment at Economic Development Youth Conference, Norway House Manitoba

178 views Aug 30, 2022

Norway House Communications

946 subscribers

https://www.youtube.com/watch?v=NgW_FPVpoaI

25min: Flying Nickel adds vanadium to battery metals portfolio

1,433 views Sep 5, 2022

Small Caps

35.7K subscribers

https://www.youtube.com/watch?v=zEkpCAYPv-o&t=1581s  

29min Exclusive Interview: Can Tesla Scale Faster w/ Nickel Industry CEO (Part 2)

I talked about nickel sulphide vs nickel laterite, permitting, green energy, and environment

31,297 views Aug 28, 2022

Electrified

85.9K subscribers

Part I is link below also from August 2022

https://www.youtube.com/watch?v=sFq90BKvIPc&t=1588s

29min Exclusive Interview: Tesla’s Scaling Ambitions w/ Nickel Industry CEO (Part 1)

I talked about what’s in Elon’s mind and what he is doing to secure nickel

45,064 views Aug 14, 2022

Electrified

85.9K subscribers

https://www.youtube.com/watch?v=bXTp0CVeu6Y&t=2365s

DIGGING DEEPER: feat. John Lee, CEO of Flying Nickel Mining Corp. TSX:FLYN

46 min interview with digging deeper, fast pace covering nickel, flying nickel’s minago project

I thoroughly enjoyed this interview

We are in for a September splash on drill assays, permitting, and feasibility.

Streamed live on Aug 29, 2022

https://www.youtube.com/watch?v=kVdFDtJacdw&t=1s

33 min talk with MattMoney about what happened that day on London’s metals exchange when nickel went from $10 to $50 melt up and if that will happen again

Nickel More Important Than Lithium to EV Batteries? A Chat with John Lee Flying Nickel $FLYNF

Aug 30, 2022

MattMoney

10.1K subscribers

https://www.youtube.com/watch?v=uTA2J1vpECY&t=27s

16min quick talk about what’s coming in for Flying Nickel and its Minago project

One Hot Nickel Stock To Watch Now? Interview and BIG Acquisition Update w/ CEO John Lee (TSXV:FLYN)

11,254 views Aug 30, 2022

Departures Capital

45.4K subscribers

https://www.youtube.com/watch?v=8m6vfXohdKU&t=452s

23min talk with Electric Viking about LFP battery and NMC battery and what’s latest with Tesla

3,189 views Jul 23, 2022

The Electric Viking

84.4K subscribers

Check out latest Flying Nickel Presentation

Subscribe to receive Flying Nickel news the moment it’s out by email for free 

Follow Flying Nickel

https://www.youtube.com/channel/UCF-3tJsV65-wjy56xtwcJhg

https://www.linkedin.com/company/flyingnickel

https://www.linkedin.com/in/john-lee-baa93422

https://twitter.com/Flying_Nickel

https://twitter.com/johnlee25893955

https://www.facebook.com/FlyingNickelMiningCorp

Qualified Person

The technical contents of this news release have been prepared under the supervision of Robert Smith, P.Geo. Mr. Smith is not independent of the Company in that he is employed by it. Mr. Smith is a Qualified Person as defined by the guidelines in NI 43-101.

About Flying Nickel

Flying Nickel Mining Corp. is a premier nickel sulphide mining and exploration company. The company is advancing its 100% owned Minago nickel project in the Thompson nickel belt in Manitoba, Canada.

Further information on the Company can be found at www.flynickel.com.

FLYING NICKEL MINING CORP.

ON BEHALF OF THE BOARD

John Lee

Interim Chief Executive Officer

For more information about the Company, please contact:

Phone: Phone: 1.877.664.2535 / 1.877.6NICKEL

Email:  info@flynickel.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, including statements which may contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management’s expectations regarding Flying Nickel’s future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.

These factors should be considered carefully, and readers should not place undue reliance on the Flying Nickel’s forward-looking statements. Flying Nickel believes that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given that these expectations will prove to be correct. In addition, although Flying Nickel has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Flying Nickel undertakes no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.

Flying Nickel Announces Minago Nickel Project as Top 1% in the World in Low Carbon Footprint in Thompson Nickel Belt in Canada

Vancouver, British Columbia , September 13, 2022 – Flying Nickel Mining Corp. (“Flying Nickel” or the “Company”) (TSX-V:FLYN, OTCQB:FLYNF) today announced its Minago Nickel Sulphide project (“The Minago Project”) is expected to have an industry leading low carbon footprint, lower than 99% of existing global nickel production. When in operation, the Minago project is expected to produce 0.99 tonnes of carbon dioxide (CO2) per tonne of nickel-equivalent production over the life of mine. This is 97% lower than the industry average of 33.4 tonnes of CO2 in 2021. The Minago project has received over CAD 70 million in investments since 1966 and is located in the southern part of Manitoba’s Thompson Nickel Belt (TNB).

These results are based on a study by Skarn Associates, a metals and mining ESG research company, applying applicable data from the Minago project. This CO2 footprint estimate does not include the carbon offset expected to be provided from the process of spontaneous mineral carbonation from the tailings and waste rock comprised largely of serpentine rock which naturally absorbs CO2 when exposed to air.

John Lee, Flying Nickel’s CEO states, “Flying Nickel aims to be one of the world’s most environmentally friendly nickel mining company with study demonstrating Minago being top 1% in lowest carbon footprint that utilizes Manitoba’s hydroelectricity, trolley trucks and electric mine fleet. The clean nickel from Minago is ideally suited to go into high performance nickel batteries powering modern Electric Vehicles.”

The capital expenditure is expected to be minimized with Manitoba Provincial Highway 6 and a high-voltage (230 kV) transmission line both within 2km from the Minago resource. Vale currently produces nickel concentrates in Thompson 270 km northeast of the Minago project. Vale’s nickel concentrates are transported south to its Sudbury smelter for processing to refined nickel.

 Figure 1: Nickel GHG Intensity Curve – CO2e Intensity (tCO2e/t Ni eq.)*

About Skarn Associates

Skarn’s mission is to bridge the research gap between mine economics and ESG. Skarn focuses on creating high quality, independent, forward-looking mining sector ESG analysis, especially energy use and carbon emissions from mining, smelting and refining operations. Commodities covered include nickel, gold, aluminum, zinc, iron ore, metallurgical coal and copper. Skarn has become a leader in mining sector greenhouse gas benchmarking, having developed unique methodologies and datasets, including its proprietary E0 and E1™ emissions metrics.

Skarn Associates’ proprietary GHG intensity metrics Scope 1 and Scope 2 relates to mine site emissions from mining and processing of ore, plus fugitive emissions (indirect GHG emissions – generally represented by electricity purchased by the mine from the grid). It includes emissions from integrated smelting and refining facilities, but excludes emissions from third-party smelting and refining. Emission intensities are stated on a recovered nickel-equivalent basis, calculated using average 2021 metal prices. Emissions are pro-rated across all commodities produced by the mine, based on contribution to gross revenue.

For more information visit www.skarnassociates.com.

About Flying Nickel

Flying Nickel Mining Corp. is a premier nickel sulphide mining and exploration company.  The company is advancing its 100% owned Minago nickel project in the Thompson nickel belt in Manitoba, Canada.

Further information on the Company can be found at www.flynickel.com.

FLYING NICKEL MINING CORP.

ON BEHALF OF THE BOARD

John Lee

Interim Chief Executive Officer

For more information about the Company, please contact:

Phone: Phone: 1.877.664.2535 / 1.877.6NICKEL

Email:  info@flynickel.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, including statements which may contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management’s expectations regarding Flying Nickel’s future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.

These factors should be considered carefully, and readers should not place undue reliance on the Flying Nickel’s forward-looking statements. Flying Nickel believes that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given that these expectations will prove to be correct. In addition, although Flying Nickel has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Flying Nickel undertakes no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.

Flying Nickel Drills 113.55 meters Grading 0.41% Nickel, 0.13 g/t PGM at Minago’s North Limb in Thompson Nickel Belt

Vancouver, British Columbia , September 7, 2022 – Flying Nickel Mining Corp. (“Flying Nickel” or the “Company”) (TSX-V:FLYN, OTCQB:FLYNF) announces initial diamond drill results from the Company’s 100% owned  Minago nickel sulphide project 270km south of Thompson, Manitoba. Six holes totaling 2,718 meters were drilled this past winter and the first group of assays have been received from the lab.

Drill hole FN-22-003 was drilled to test the down dip extension of previously drilled nickel mineralization in the North Limb deposit beyond the previously drilled maximum depth of approximately 250 meters from surface on section. The hole intercepted 248.35 meters (from 260.45 to 508.8 meters) of ultramafic rocks of varying percentages of disseminated mineralization. 

To date 75 assay results covering the interval from 284.34 to 397.89 meters have been received. The average grade is 0.41% Ni, 0.01% Cu, 0.01% Co, 0.006 g/t Au, 0.033 g/t Pt and 0.096 g/t Pd over 113.55 meters.  

John Lee, Flying Nickel CEO comments: “Under-explored North Limb is delivering promising resource expansion potential. Preliminary assay results confirm the down dip extension of nickel mineralization in the southern portion of North Limb deposit, which made up only 16% of the current Minago resource (84% made up of the Nose deposit).

We were also delighted to observe continuous platinum and palladium intercepts throughout the entire 113.5-meter section grading up to 0.242 g/t. Nickel grades appear to be increasing at depth as we eagerly await full assay results in September and October from the Company’s maiden drill campaign.”

Flying Nickel announced an open-pit optimized Minago mineral resource estimate, prepared by Mercator Geotechnical Services and AGP Mining Consultants, effective July 2, 2021, which includes a Measured and Indicated mineral resource of 722 million lbs of contained nickel and an Inferred mineral resource of 319 million lbs of contained nickel grading 0.74% nickel based on 86,118 meters of drilling. 

Reported results* are tabulated below:

*Detection limit is 10 ppm for Ni, 10 ppm for Cu, 10 ppm for Co, 5 ppb Au, 10 ppb Pt and 5 ppb Pd. When calculating composite grades, half the detection limit value was used when assay results were less than the detection limit. True widths are approximately half the width observed in core. 

Higher grade intersections included 15.36 meters of 0.69% Ni, 0.02% Cu, 0.01% Co, 0.016 g/t Au, 0.064 g/t Pt and 0.167 g/t Pd. A separate intersection included 11.2 meters of 0.57% Ni, 0.04% Cu, 0.01% Co, 0.012 g/t Au, 0.064 g/t Pt and 0.178 g/t Pd. Another 16.79 meter higher grade zone was also intersected that contained 0.54% Ni, 0.01% Cu, 0.02% Co, 0.003 g/t Au, 0.039 g/t Pt and 0.11 g/t Pd. The final two samples received to date had a combined length of 2.52 meters and contained 0.59% Ni, 0.04% Cu, 0.02% Co, 0.004 g/t Au, 0.057 g/t Pt and 0.152 g/t Pd. 

The map of the drill locations are available at www.flynickel.com.

Observations and drillhole summaries are provided below:

FN-22-01 is a 567-meter infill drill hole located at the eastern part of Minago’s main Nose deposit.  The hole ended in mineralization at 567 meters, short of the 830 meters planned depth due to ground conditions.  Approximately 483 meters of ultramafic rocks were observed containing varying percentages of disseminated mineralization.

FN-22-02 is a 407-meter infill drill hole located at the western part of the Nose deposit.  The FN-22-02 encountered 266 meters of ultramafic rocks containing varying percentages of disseminated mineralization.

Core from FN-22-01 and FN-22-02 will undergo metallurgical tests to support the Company’s ongoing feasibility study to be completed by end of 2022.

FN-22-03 is a 530-meter hole drilled near the center of Minago’s North Limb deposit to test the deep portion of North Limb beyond the previously drilled maximum depth of approximately 250 meters from surface on section. The hole intercepted 393 meters of ultramafic rocks of varying percentages of disseminated mineralization.

FN-22-04 is a 551-meter exploration hole collared 200 meters north of the North Limb to test a magnetic and vertical electromagnetic anomaly.  The hole intercepted 135 meters of intercalated ultramafic and felsic rocks containing varying percentages of disseminated mineralization.

FN-22-05 is a 338-meter hole drilled at the southern end of the North Limb to test the shallow portion of the North Limb that had not been drilled before.  FN-22-05 encountered 85 meters of ultramafic rocks of varying percentages of disseminated mineralization, indicating sections of North Limb mineralization occur shallower than previously estimated.

FN-22-06 is a 325-meter exploration hole drilled in between the Nose and the North Limb to test a electromagnetic and magnetic anomaly.  The hole ended in magnetite bearing granitoids with no observable ultramafic rocks.  A clay layer observed between the Phanerozoic cover rocks and the Archean basement rocks is believed to explain the electromagnetic anomaly.

The resources cited above and the tabulated results are N.I. 43-101 compliant and are based on NI 43‐101 technical report on the mineral resource estimate for the Minago project, Manitoba, Canada, with effective date July 2, 2021, and prepared by Michael Cullen, P.Geo., Paul Ténière, P.Geo., Matthew Harrington, P.Geo., William A. Turner, P.Geo., John Eggert, P.Eng., Lawrence Elgert, P.Eng. The technical report can be downloaded at www.flynickel.com.

Qualified Person

The technical contents of this news release have been prepared under the supervision of Robert Smith, P.Geo.  Mr. Smith is not independent of the Company in that he is employed by it.  Mr. Smith is a Qualified Person as defined by the guidelines in NI 43-101.

About Flying Nickel

Flying Nickel Mining Corp. is a premier nickel sulphide mining and exploration company.  The company is advancing its 100% owned Minago nickel project in the Thompson nickel belt in Manitoba, Canada.

Further information on the Company can be found at www.flynickel.com.

FLYING NICKEL MINING CORP.

ON BEHALF OF THE BOARD

John Lee

Interim Chief Executive Officer

For more information about the Company, please contact:

Phone: Phone: 1.877.664.2535 / 1.877.6NICKEL

Email:  info@flynickel.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, including statements which may contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management’s expectations regarding Flying Nickel’s future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.

These factors should be considered carefully, and readers should not place undue reliance on the Flying Nickel’s forward-looking statements. Flying Nickel believes that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given that these expectations will prove to be correct. In addition, although Flying Nickel has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Flying Nickel undertakes no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.

Flying Nickel Mining Corp. Signs Letter of Agreement to Acquire Nevada Vanadium Mining Corp.

VANCOUVER, British Columbia, August 23, 2022 – Flying Nickel Mining Corp. (TSX-V: FLYN; OTCQB: FLYNF) (“Flying Nickel”) and Nevada Vanadium Mining Corp. (formerly 1324825 B.C. Ltd.) (“Nevada Vanadium”) are pleased to announce that they have entered into a non-binding letter of agreement dated August 22, 2022 (the “LOA”) pursuant to which Flying Nickel proposes to acquire all of the issued and outstanding common shares of Nevada Vanadium (the “Nevada Vanadium Shares”) by way of a court-approved plan of arrangement (the “Transaction”).

Under the terms of the Transaction, Nevada Vanadium shareholders are expected to receive one (1) (the “Exchange Ratio”) Flying Nickel common share (a “Flying Nickel Share”) for each Nevada Vanadium Share held immediately prior to the effective time of the Transaction, representing the equivalent of $0.155 per Nevada Vanadium Share, based on the closing price of Flying Nickel Shares on the TSX Venture Exchange (the “TSXV”) on August 19, 2022. All convertible securities of Nevada Vanadium outstanding immediately prior to the effective time of the Transaction are also expected to be exchanged for securities of Flying Nickel bearing substantially the same terms as the securities replaced based on the Exchange Ratio. 

Currently, Flying Nickel has 62 million shares outstanding, and Nevada Vanadium has 53 million shares outstanding. Upon completion of the Transaction, the combined company (the “Resulting Issuer”) will be owned approximately 54% by Flying Nickel shareholders and 46% by Nevada Vanadium shareholders The Resulting Issuer is expected to continue to be listed on the TSXV as a mining issuer.

John Lee, Chief Executive Officer of Flying Nickel stated “The Gibellini Vanadium project is an ideal complement to Flying Nickel’s Minago Nickel project. Nickel and vanadium are both key ingredients in batteries and classified as critical metals* by U.S. Geological Survey. Minago and Gibellini are both entering into the final environmental permitting stages and are located in mining friendly districts in North America. We believe the combined company will have one-of-a-kind mineral resource base and a dominant presence in the battery metals mining space.”

* https://www.federalregister.gov/documents/2022/02/24/2022-04027/2022-final-list-of-critical-minerals

The implied equity value for Nevada Vanadium as of the date of the LOA based on the Exchange Ratio is approximately $8,485,200 based on the 20-day volume-weighted-average-price of Flying Nickel Shares on the TSXV as of close on August 19, 2022. Nevada Vanadium is a reporting issuer in each of the provinces and territories of Canada other than Quebec and the Nevada Vanadium Shares are not listed for trading on any stock exchange.

Nevada Vanadium’s Highlights:

Nevada Vanadium aims to become the first primary vanadium mine producer in the USA with its Gibellini vanadium project, a proposed open pit, heap leach project located at the Battle Mountain district in Nevada, United States. 

On July 22, 2022, a Draft of Environmental Impact Statement (“EIS”) with respect to the Gibellini Vanadium project was published in the US Federal Register for a 45-day public comment period.

The following table sets forth selected financial information relating to Nevada Vanadium for the periods noted below:

Notes:

1. Nevada Vanadium acquired ownership of its Gibellini Vanadium project pursuant to a statutory plan of arrangement completed by Silver Elephant Mining Corp. (TSX: ELEF, OTCQX: SILEF) (“Silver Elephant”) on January 14, 2022. Prior thereto, Nevada Vanadium was a wholly owned shell subsidiary of Silver Elephant.

Transaction Structure 

The Transaction is expected to be effected by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia) and will be subject to the approval of the shareholders of each of Nevada Vanadium and Flying Nickel, the TSXV and the Supreme Court of British Columbia. 

The issuance of shares by Flying Nickel pursuant to the Transaction (“Share Issuance”) is subject to approval at a special meeting of Flying Nickel shareholders (the “ Flying Nickel Meeting”) by: (i) at least a majority of the votes cast on the resolution to approve the Share Issuance by the Flying Nickel shareholders present in person or represented by proxy and entitled to vote at the Flying Nickel Meeting; and (ii) at least a majority of the votes cast on the resolution to approve the Share Issuance by the minority Flying Nickel shareholders present in person or represented by proxy and entitled to vote at the Flying Nickel Meeting. The minority shareholders are defined by securities legislation and, among others, is expected to exclude the Flying Nickel Shares held by Battery Metals Royalties Corp. (“Battery Metals”).

The Transaction is subject to approval at a special meeting of Nevada Vanadium shareholders (the “Nevada Vanadium Meeting”) by: (i) at least 66 ⅔% of the votes cast on the resolution to approve the Transaction by Nevada Vanadium shareholders present in person or represented by proxy and entitled to vote at the Nevada Vanadium Meeting; and (ii) at least a majority of the votes cast on the resolution to approve the Transaction by the minority Nevada Vanadium shareholders present in person or represented by proxy and entitled to vote at the Nevada Vanadium Meeting. The minority shareholders are defined by securities legislation and, among others is expected to exclude the Nevada Vanadium Shares held by Battery Metals.

Battery Metals owns approximately 45.9% of the issued and outstanding Nevada Vanadium Shares and approximately 35.1% of the issued and outstanding Flying Nickel Shares, in each case on a non-diluted basis, and has also agreed to vote its Nevada Vanadium Shares and Flying Nickel Shares in favor of the Transaction. 

Completion of the Transaction remains subject to customary conditions, including the signing of definitive agreements with respect thereto, fairness opinions to be provided to each board of directors, valuation report of Nevada Vanadium, and receipt of all necessary court and regulatory approvals. The LOA, and any definitive agreements executed in connection with the Transaction shall include customary representations and warranties of each party, non-solicitation covenants, “right-to-match” provisions, and a termination fee payable by either party in certain circumstances in the amount of $500,000 in the case of the LOA or $2,000,000 in the case of any definitive agreements in connection with the Transaction.

Full details of the Transaction will be included in the meeting materials with respect to the Flying Nickel Meeting and Nevada Vanadium Meeting.

No finder’s fee is expected to be paid by either of Flying Nickel or Nevada Vanadium to any party in connection with the Transaction.

Board and Management

The following table sets forth the current board and management of each of Flying Nickel and Nevada Vanadium as well as the proposed board and management of the Resulting Issuer:

Notes:

1. Proposed board and management of the Resulting Issuer subject to TSXV approval and may be amended by agreement between Flying Nickel and Nevada Vanadium.

Mark Scott, Airdrie Alberta, Canada, Proposed Director of the Resulting Issuer

Mark Scott has had a distinguished 20-year career in the mining industry having previously worked at Vale Canada Ltd., Inco Limited and Noranda Inc. His past roles include: Vice President & Head of Manitoba Operations, Vale Canada Ltd.; Director Mining & Milling, Vale Manitoba Operations; Manager, Thompson Nickel Refinery; General Manager, Human Resources & Sustainability; President & Board Chair, Mining Association of Manitoba Inc.

Mr. Scott is currently President & CEO of Sassy Resources Corporation. He holds a Bachelor of Arts from Dalhousie University, a Master of Industrial Relations from the University of Toronto, and a Masters Certificate in Project Management from York University (Schulich School of Business) and the University of Winnipeg. 

Nick Zeng, New York, USA, Proposed Director of the Resulting Issuer

Mr. Zeng is the CEO of Golden Share Resources Corporation, a Canadian mineral exploration company. Nick Zeng has almost 30 years of experience as an entrepreneur with mining and technology business founded and operated successfully in Canada, Asia and the United States. 

Masa Igata, Tokyo, Japan, Proposed Director of the Resulting Issuer

Mr. Igata has more than 35 years’ experience working in Asian financial markets. Previously, he was Managing Director at Nikko Citigroup with a leading role in Japanese equity sales and investor relations. Mr. Igata has been advising and investing in resource companies in Asia in the last 30 years and now focuses in North America as well . Mr. Igata received his Graduate of Law from Kyoto University and is a member of the Securities Analysts Association of Japan.

Harald Batista, Menlo Park California, USA, Proposed Director of the Resulting Issuer

Based in Brazil and California, Harald Batista is the son of the honorable Eliezer Batista (1924–2018), the founder and former president of CVRD (now Vale). Mr. Batista has an extensive network and is fluent in Portuguese, German, English, and Spanish. Mr. Batista has a MBA degree from Santa Clara University. 

John Lee, Taipei, Taiwan, Proposed Chief Executive Officer and Director of the Resulting Issuer

Mr. Lee specializes in M&A and has raised over $130 million for junior miners listed on the Toronto Stock Exchange and TSX Venture Exchange since 2009. Mr. Lee led the Minago acquisition by Silver Elephant Mining Corp. in February 2021 and later architected Silver Elephant’s proposed spinout of Flying Nickel to operate Minago. In addition, Mr. Lee led Silver Elephant in acquiring the Pulacayo silver project, Gibellini vanadium project, Ulaan Ovoo coal project in the past 10 years. Mr. Lee graduated from Rice University with bachelor’s degrees in Economics (BA) and in Engineering (BSc).

Zula Kropivnitski, Vancouver Canada, Proposed Chief Financial Officer of the Resulting Issuer

Ms. Kropivnitski has over ten years of experience in financial reporting with public companies listed on Canadian and US stock exchanges in the resource and technology sectors. Notable positions include CFO with Abraplata Resource Corp. from 2016 to 2019, and Financial Controller with Sacre-Coeur Minerals Ltd. From 2008 to 2011. Ms. Kropivnitski received her Chartered Professional Accountant designation from the Certified General Accountants Association of British Columbia, Canada and later obtained her ACCA designation from the Association of Chartered Certified Accountants of UK.

Rob Van Drunen, Thompson, Manitoba, Canada, Proposed Chief Operating Officer of the Resulting Issuer

Robert Van Drunen, who is based in Thompson, Manitoba, has over 30 years of experience with Vale and Inco. He started his mining career with Inco in 1990 and progressed through his career with increasing levels of responsibility, including Mine Manager and most recently Senior Project Manager of the Thompson Operation. In the latter role, he led multi-disciplinary teams in all aspects of mining, including operations (both underground and open pit), maintenance, exploration, procurement, supply chain management, and contract management.

Mr. Van Drunen holds a Masters Certificate in Project Management from York University. He specializes in process improvement and cost control, as well as an award winning track record for zero-harm safety culture.

Ron Espell, Fruitvale, Idaho, USA, Proposed Vice President, Environment of the Resulting Issuer

Mr. Espell is a highly regarded specialist in U.S. federal and Nevada state mine permitting, with over 30 years of experience in corporate environmental management, permitting in conformance with applicable regulatory and performance standards, mine waste management, reclamation, and closure planning.

Mr. Espell previously served as corporate environmental director of McEwen Mining Inc. Within 18 months from the time he joined McEwen Mining, Mr. Espell led his team to successfully obtain the Gold Bar project’s environmental impact statement (EIS) approval from the Bureau of Land Management (BLM) Battle Mountain District office in November, 2017.

Mr. Espell’s wealth of experience includes being an environmental management specialist at the Nevada Division of Environmental Protection, as well as working for 17 years in positions of increasing responsibility at Barrick Gold Corp., from being environmental superintendent, environmental manager of Barrick Goldstrike, regional environmental director — Australia Pacific, and corporate environmental director.

Nadia Traversa, Delta BC Canada, Proposed Corporate Secretary of the Resulting Issuer

Nadia Traversa has over 10 years’ experience in the securities industry working with publicly traded companies listed on the TSX Venture Exchange and more recently, on the Toronto Stock Exchange. Nadia got her start working with public companies as a corporate and securities legal secretary with Werbes Sasges, LLP, and more recently with iO Corporate Services Ltd.

Battery Metals is expected to remain a control person of the Resulting Issuer. Battery Metals is a company existing pursuant to the laws of the province of British Columbia. Silver Elephant owns approximately 39.7% of the issued and outstanding common shares of Battery Metals.

Related Party Transaction / Business Combination

The Transaction is expected to constitute a “business combination” pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) for Nevada Vanadium and a “related party transaction” pursuant to MI 61-101 for Flying Nickel, due to the shareholding of Battery Metals as described herein. Each of Flying Nickel and Nevada Vanadium is exempt from the formal valuation requirement pursuant to section 4.4(a) of MI 61-101 as an issuer not listed on a specified market. 

The Transaction is not expected to constitute an Arm’s Length Transaction as defined in the policies of the TSXV as Flying Nickel and Nevada Vanadium have a common control person, being Battery Metals. 

About Nevada Vanadium Mining Corp.

Nevada Vanadium Mining Corp. is a Canadian reporting issuer, holding a 100% interest in the Gibellini Vanadium project in Nevada, United States. 

The Gibellini Vanadium project includes 3 separate deposits: Gibellini, Louie Hill, and Bisoni McKay within a 21km strike length of the vanadium mineralized Woodruff Formation. The 587 mining claims over this entire exposure of vanadium mineralization comprises approximately 46.3 km².

A preliminary economic assessment study (PEA) by Wood Plc was announced on August 30, 2021 which demonstrates an after-tax Internal Rate of Return of 25.4%, and after-tax cumulative cash flow of US$260.8 million, assuming a baseline vanadium pentoxide price (V₂O₅) of US$10 per pound.

The Gibellini Mineral Resource Estimate includes a Measured and Indicated mineral resource of 131 million pounds of contained V2O5 and an Inferred mineral resource of 228 million pounds of contained V₂O₅ . The Gibellini project is designed to be an open pit, heap leach operation in Nevada’s Battle Mountain region (25kms south of Eureka) with initial capital cost of US$147 million, average annual production is 10.2 million pounds of V₂O₅, at Cash Operating Cost of US$4.7 per pound with strip ratio of 0.18 to 1.

For further information on the Gibellini Vanadium project, please see the technical report entitled “Gibellini Vanadium Project Eureka County, Nevada NI 43-101 Technical Report on Preliminary Economic Assessment Update” dated 30 August, 2021, available at www.nevadavanadium.com. On the System for Electronic Document Analysis and Retrieval at www.sedar.com, along with the audited annual financial statements of Nevada Vanadium for the fiscal year ended December 31, 2021 and the interim financial statements of Nevada Vanadium for the three months ended March 31, 2022 as well as any subsequently filed financial statements and other continuous disclosure filings of Nevada Vanadium.

About Flying Nickel Mining Corp.

Flying Nickel Mining Corp. is a premier nickel sulphide mining and exploration company. Flying Nickel is advancing its 100% owned Minago Nickel project in the Thompson nickel belt in Manitoba, Canada.

The Minago Nickel project includes 2 deposits: Nose and North Limb occur within a mineral lease that is surrounded by 94 mineral claims plus a second mineral lease held by Flying Nickel, comprising a total area of 197 km².

On July 5, 2021, a combined open pit and underground mineral resource estimate (“Minago MRE”) prepared by Mercator Geological Services Limited and AGP Mining Consultants Inc. was disclosed for the Minago Nickel project. The Minago MRE has an Effective Date of July 2, 2021 and includes a Measured and Indicated mineral resource of 44.23 million tonnes grading 0.74 % nickel for 722 million pounds of contained nickel and an Inferred mineral resource of 19.55 million tonnes grading 0.74% nickel for 319 million pounds of contained nickel. Open pit constrained mineral resources are reported at a cut-off grade of 0.25 % nickel within an optimized pit shell and underground constrained mineral resources below the optimized pit shell are reported at a cut-off grade of 0.50 % nickel. The Minago MRE is based on results of over 85,000 meters of drilling.

For further information on the Minago Nickel project, please see the technical report entitled “NI 43-101 Technical Report on the Mineral Resource Estimate for the Minago Nickel Project Manitoba, Canada”, which has an Effective date of July 2, 2021 available at www.flynickel.com. On the System for Electronic Document Analysis and Retrieval at www.sedar.com along with the audited annual financial statements of Flying Nickel for the fiscal year ended December 31, 2021 and the interim financial statements of Flying Nickel for the three months ended March 31, 2022 as well as any subsequently filed financial statements and other continuous disclosure filings of Flying Nickel.

Qualified Persons Statement

The scientific and technical information relating to Minago Nickel project and Flying Nickel in this news release were reviewed and approved by Matthew Harrington, P.Geo., of Mercator Geological Services Limited, who is an Independent Qualified Person as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and a co-author of the Minago Nickel Project Technical Report referred to above. 

The scientific and technical information related to Gibellini project and Nevada Vanadium in this news release were reviewed and approved by Marc Leduc, P.Eng., who is the Qualified Person as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and a Senior Consultant to the project.

For further information, please contact:

Flying Nickel Mining Corp.

John Lee

Chief Executive Officer and Director

Flying Nickel Mining Corp.

www.flynickel.com

info@flynickel.com

1.877.664.2535 / 1.877.6NICKEL

Nevada Vanadium Mining Corp.

Ron Espell

Chief Executive Officer 

Nevada Vanadium Mining Corp.

www.nevadavanadium.com

info@nevadavanadium.com

Forward-looking Statements and Cautionary Disclaimers

References to $ herein refer to the lawful currency of Canada and references to US$ herein refer to the lawful currency of the United States.

This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

Completion of the Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance and if applicable, disinterested shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. 

There can be no assurance that the transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Flying Nickel and Nevada Vanadium should be considered highly speculative. 

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.

This news release is not an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

This news release contains certain “forward-looking statements” and “forward-looking information” under applicable Canadian and United States securities laws concerning the business, operations and financial performance and condition of each of Flying Nickel and Nevada Vanadium (collectively, the “Corporations”). Forward-looking statements and forward-looking information include, but are not limited to, statements with respect to estimated production and mine life of the Corporations’ projects; the realization of mineral reserve estimates; the timing and amount of estimated future production; costs of production; the future price of battery metals such as Nickel and Vanadium; the estimation of mineral reserves and resources; the ability to manage debt; capital expenditures; the ability to obtain permits for operations; liquidity; tax rates; strategic plans; future operations; future work programs and objectives; and currency exchange rate fluctuations. Except for statements of historical fact relating to the Corporations, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as “anticipates,” “may,” “can,” “plans,” “believes,” “estimates,” “expects,” “projects,” “targets,” “intends,” “likely,” “will,” “should,” “to be”, “potential” and other similar words, or statements that certain events or conditions “may”, “should” or “will” occur, including, without limitation, that all conditions precedent to the transaction will be met and the realization of the anticipated benefits derived therefrom for shareholders of the Corporations and the view on (i) the quality and the potential of the Corporations’ assets, (ii) the consideration offered to Nevada Vanadium’s shareholders, and (iii) the potential of the Resulting Issuer. Forward-looking statements are based on the opinions and estimates of management of each of the Corporations at the date the statements are made, and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Many of these assumptions are based on factors and events that are not within the control of the Corporations, there is no assurance they will prove to be correct and are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements.

Factors that could cause actual results to vary materially from results anticipated by such forward -looking statements include variations in ore grade or recovery rates, changes in market conditions, changes in project parameters, mine sequencing; production rates; cash flow; risks relating to the availability and timeliness of permitting and governmental approvals; supply of, and demand for, battery metals such as Nickel and Vanadium; fluctuating commodity prices and currency exchange rates, the possibility of project cost overruns or unanticipated costs and expenses, labour disputes and other risks of the mining industry, failure of plant, equipment or processes to operate as anticipated.

These factors are discussed in greater detail in Flying Nickel’s most recent MD&A filed on SEDAR, which also provide additional general assumptions in connection with these statements, and in Nevada Vanadium’s most recent MD&A filed on SEDAR, which also provide additional general assumptions in connection with these statements. The Corporations’ caution that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on forward-looking statements contained herein should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. The Corporations believe that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.

Although the Corporations have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Corporations undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. Statements concerning mineral reserve and resource estimates may also be deemed to constitute forward-looking statements to the extent they involve estimates of the mineralization that will be encountered as the property is developed. Further, the Corporations may make changes to their respective business plans that could affect results. 

30k views: Flyn CEO interview about nickel with popular Electrified Youtube Channel

Can’t miss, the following 30 min interview where Lee talks about

Tesla’s nickel purchase with Vale

Nickel outlook from supply and demand side

Nickel contracts, how they work

What it takes to get nickel out of ground

US nickel mining landscape

Flying Nickel Completes Drilling Program at Minago Nickel Project in Thompson Manitoba

Vancouver, British Columbia, June 21, 2022 – Flying Nickel Mining Corp. (“Flying Nickel” or the “Company”) (TSXV:FLYN, OTCQB:FLYNF) announces the completion of its first drilling program at its 100% owned  Minago nickel sulphide project in Thompson, Manitoba.  The program included 2,834 meters of drilling, consisting of six infill and exploration drillholes.  The initial drill results are expected in early July.

A 5,000-meter program was announced on March 7, 2022 but was shortened due to late issuance of work permits.  Infill drill holes FN-22-01 and FN-22-02 intercepted wide disseminated nickel mineralization at Minago’s Nose deposit.  The remaining holes targeted the North Limb deposit, which has the highest near-term resource expansion potential and limited historic drilling.

Flying Nickel acquired Minago from Victory Nickel Inc in February 2021.  Subsequently, Flying Nickel announced an open-pit optimized Minago mineral resource estimate (“MRE”), prepared by Mercator Geotechnical Services and AGP Mining Consultants, effective July 2, 2021, which includes a Measured and Indicated mineral resource of 722 million lbs of contained nickel and an Inferred mineral resource of 319 million lbs of contained nickel grading 0.74% nickel based on 86,118 meters of drilling.  The project has ready access to hydro power, water and is adjacent to a paved provincial highway.  Flying Nickel is completing a Notice of Alteration which is required for the reissuance of the Environmental Act License by the province of Manitoba.  No federal permit is required.

Observations and drillhole summaries are provided below:

FN-22-01 is a 567-meter infill drill hole located at the eastern part of Minago’s main Nose deposit.  The hole ended in mineralization at 567 meters, short of the 830 meters planned depth due to ground conditions.  Approximately 483 meters of ultramafic rocks were observed containing varying percentages of disseminated mineralization.

FN-22-02 is a 407-meter infill drill hole located at the western part of the Nose deposit.  The FN-22-02 encountered 266 meters of ultramafic rocks containing varying percentages of disseminated mineralization.

Core from FN-22-01 and FN-22-02 will undergo metallurgical tests to support the Company’s ongoing feasibility study to be completed by end of 2022.

FN-22-03 is a 530-meter hole drilled near the center of Minago’s North Limb deposit to test the deep portion of North Limb beyond the previously drilled maximum depth of approximately 250 meters from surface on section. The hole intercepted 393 meters of ultramafic rocks of varying percentages of disseminated mineralization.

FN-22-04 is a 551-meter exploration hole collared 200 meters north of the North Limb to test a magnetic and vertical electromagnetic anomaly.  The hole intercepted 135 meters of intercalated ultramafic and felsic rocks containing varying percentages of disseminated mineralization.

FN-22-05 is a 338-meter hole drilled at the southern end of the North Limb to test the shallow portion of the North Limb that had not been drilled before.  FN-22-05 encountered 85 meters of ultramafic rocks of varying percentages of disseminated mineralization, indicating sections of North Limb mineralization occur shallower than previously estimated.

FN-22-06 is a 325-meter exploration hole drilled in between the Nose and the North Limb to test a electromagnetic and magnetic anomaly.  The hole ended in magnetite bearing granitoids with no observable ultramafic rocks.  A clay layer observed between the Phanerozoic cover rocks and the Archean basement rocks is believed to explain the electromagnetic anomaly.

Plan and cross section drill maps are available at flynickel.com

Qualified Person

The technical contents of this news release have been prepared under the supervision of Danniel Oosterman, CEO.  Mr. Oosterman is not independent of the Company in that he is employed by it.  Mr. Oosterman is a Qualified Person as defined by the guidelines in NI 43-101.

About Flying Nickel

Flying Nickel Mining Corp. is a premier nickel mining and exploration company.  The company is advancing its 100% owned Minago nickel sulphide project in the Thompson nickel belt in Manitoba, Canada.

Further information on the Company can be found at www.flynickel.com.

FLYING NICKEL MINING CORP.

ON BEHALF OF THE BOARD

“Danniel Oosterman”
Chief Executive Officer

For more information about the Company, please contact:

Phone: 1.877.664.2535 / 1.877.6NICKEL

Email:  info@flynickel.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, including statements which may contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management’s expectations regarding Flying Nickel’s future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.

These factors should be considered carefully, and readers should not place undue reliance on the Flying Nickel’s forward-looking statements. Flying Nickel believes that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given that these expectations will prove to be correct. In addition, although Flying Nickel has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Flying Nickel undertakes no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.

Flying Nickel Commences US OTC Trading Under “FLYNF”

Vancouver, British Columbia, April 8, 2022 – Flying Nickel Mining Corp. (“Flying Nickel” or the “Company”) (TSXV:FLYN, OTCPK:FLYNF) is pleased to announce that the Company’s common shares have started trading on the US OTCPK under the symbol FLYNF.  As previously announced, the Company has applied to upgrade the listing to the OTCQB.  The Company will provide a further update once it begins trading on the OTCQB, which is expected in the coming weeks.

Investors can find quotes and current financial disclosures for the Company on https://www.otcmarkets.com/stock/FLYNF/overview.

About Flying Nickel

Flying Nickel Mining Corp. is a premier nickel sulphide mining and exploration company, which was spun out from Silver Elephant Mining Corp in January 2022.  The company is advancing its 100% owned Minago nickel project in the Thompson nickel belt in Manitoba, Canada.

Further information on the Company can be found at www.flynickel.com.

FLYING NICKEL MINING CORP.

ON BEHALF OF THE BOARD

“Danniel Oosterman”
Chief Executive Officer

For more information about the Company, please contact:

Phone: 1-604-569-3661 ext. 101

Email:  info@flynickel.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, including statements which may contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management’s expectations regarding Flying Nickel’s future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.

These factors should be considered carefully, and readers should not place undue reliance on the Flying Nickel’s forward-looking statements. Flying Nickel believes that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given that these expectations will prove to be correct. In addition, although Flying Nickel has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Flying Nickel undertakes no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.

Flying Nickel Engages Lycopodium to Conduct Feasibility Study on Minago Nickel Project in Thompson Nickel Belt, Manitoba

Vancouver, British Columbia, March 16, 2022 – Flying Nickel Mining Corp. (“Flying Nickel” or the “Company”) (TSXV:FLYN) is pleased to announce it has commissioned a Feasibility Study (“FS”) in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) in respect of its Minago nickel project, located in the Thompson nickel belt, Manitoba, Canada.

The FS will be prepared in collaboration amongst Lycopodium (project cost estimate, processing and infrastructure), AGP Mining Consultants (mineral reserves, pit optimization), Mercator Geological Services (geology and mineral resource), and Trek Geotechnical (geotechnical, tailings and waste management). The FS is expected to take nine months to complete.

Minago currently has an NI 43-101 compliant Measured and Indicated resource of 722Mlbs contained nickel grading 0.74% and Inferred resource of 319Mlbs contained nickel also grading 0.74%.  This technical report, completed by Mercator and AGP, has an effective date of July 2, 2021, and is available under the Company’s profile on SEDAR. A majority of the resource is open pit optimized.

The FS will adhere to the parameters in the approved 2011 Environmental Act License (“EAL”), which permits a 10,000 tonne-per-day open-pit mining operation at Minago. The EAL is currently valid, pending the approval of a Notice of Alteration (“NOA”) involving a minor change to the plant layout. The NOA was submitted in late 2021, and the EAL is expected to be reissued to Flying Nickel in Q2 2022.  This is the final permitting hurdle for Flying Nickel to commence Minago mine construction. No federal permit is required for Minago.

Dan Oosterman, CEO, commented: “Minago is one of the few open-pit optimized nickel sulphide projects in North America with an excellent nickel grade of 0.74% that is a pure nickel play. Minago is in the Thompson nickel belt in Manitoba, North America’s second largest historic nickel camp with excellent infrastructure. The potential future Minago operation could possibly have one of the lowest carbon footprints in the world as the Province of Manitoba is 97% hydro-powered, producing concentrate for Class 1 nickel products that are an ideal fit for automakers’ green EV initiative.”

Rob van Drunen, COO, commented: “Flying nickel is well on its path to complete the FS and achieve full permitted status in 2022, a significant lead over other greenfield nickel projects in North America. The company is fully financed for its 2022 work program from its recent $8.6 million equity offering.”

Qualified Person

The technical contents of this news release have been prepared under the supervision of Danniel Oosterman, CEO. Mr. Oosterman is not independent of the Company in that he is employed by it. Mr. Oosterman is a qualified person as defined by the guidelines in NI 43-101.

About Flying Nickel

Flying Nickel Mining Corp. is a premier nickel sulphide mining and exploration company, which was spun out from Silver Elephant Mining Corp in January 2022.  The company is advancing its 100% owned Minago nickel project in the Thompson nickel belt in Manitoba, Canada.

Further information on the Company can be found at www.flynickel.com.

FLYING NICKEL MINING CORP.

ON BEHALF OF THE BOARD

“Danniel Oosterman”
Chief Executive Officer

For more information about the Company, please contact:

Phone: 1-604-569-3661 ext. 101

Email:  info@flynickel.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, including statements which may contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management’s expectations regarding the Company’s future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.

These factors should be considered carefully, and readers should not place undue reliance on the Company’s forward-looking statements. The Company believes that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given that these expectations will prove to be correct. In addition, although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. The Company undertakes no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.