EV NICKEL INC. announced that the Phase 4 drill program on the eastern extension of the High-Grade W4 Zone has successfully completed the first 2 holes on Section 497550mE, with both holes intersecting sulphide mineralization consistent with the Phase 2 drill program completed in 2022. The two drill holes passed through the expected komatiitic units and intersected the sulphide mineralization where the Company had projected the extension of the sulphide zone from drilling completed in 2022. Sulphide mineralization consists of the typical W4 sulphide mineralization with semi-massive veins, blebs, heavy dusty disseminated and disseminated intercepts and has been observed in the core over drill intercepts of greater than 10 metres.

As a reference, results from the Phase 2 Drill Program completed in 2022, holes EV22-17 and EV22-18, located approximately 50 metres to the west of the current drilling intersected 20.60m grading 1.23% Ni and 15.70m grading 0.90% Ni drill lengths, respectively. The Company is still logging the mineralized intercepts and does not assume that the zones will contain the same nickel grades or tenors as observed throughout the W4 Zone, this will not be known until assays are completed. The sulphide intercepts will be sampled and sent for analysis in the coming days.

The Company expects the assay results from the two holes in 6 to 8 weeks.