Flying Nickel Mining Corp. announced final PGM assay results from the Company's 100% owned Minago Nickel PGM project in the Thompson Nickel Belt, Manitoba. Flying Nickel has received and released assay results of 3,549 samples totaling 4,025 meters from 47 holes since the start of PGM assay program in January 2023.

Overall, the PGM assay results confirmed significant platinum and palladium intersections throughout the MinagoNose Deposit. The Company successfully completed the program on schedule. Flying Nickel's next step is to update Minago mineral resource estimate by including the project's first-ever PGM resource.

This final batch of assay results total 168 meters from 2 drill holes. Highlights from this latest assay data set include: N-07-26 grading 0.31% Ni, 0.289 g/t Pt, 0.42 g/t Pd and 0.004 g/t Au (0.713 g/t PGM+Au) over a 4.99 meter interval from 207.8 meters downhole. Hole N-07-21 did not contain any significant PGM assay results.

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. 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.

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 plan of arrangement. Flying Nickel and Nevada Vanadium expect to update the closing schedule in August 2023.