Flying Nickel Mining Corp. ('Flying Nickel' or the 'Company') (TSX-V: FLYN, OTCQB: FLYNF) is pleased to announce the second batch platinum-group-metals (PGM) assay results from the Company's 100% owned Minago Nickel PGM project (the 'Minago Project') in the Thompson Nickel Belt, Manitoba.

The assay results from the initial batch of 898 samples totalling 1,046 meters from 12 holes were published in the news release dated March 30, 2023. All 12 reported holes returned significant platinum, palladium and gold intersections at Minago's Nose deposit.

Assay results from the second batch, which included 968 samples totalling 1,144 meters of sections from 22 drill holes, have been returned and further confirmed significant platinum and palladium intersections throughout the Nose Deposit.

Highlights from the newly acquired assay data include: N-07-22 grading 1.25% Ni, 0.07% Cu, 0.147 g/t Pt, 0.433 g/t Pd and 0.008 g/t Au (0.588 g/t PGM+Au) over a 7.45 meter interval from 275.25 meters downhole.

N-07-22 grading 1.20% Ni, 0.07% Cu, 0.156 g/t Pt, 0.449 g/t Pd and 0.007 g/t Au (0.611 g/t PGM+Au) over a 6.71 meter interval from 286.39 meters downhole.

N-07-28 grading 1.33% Ni, 0.01% Cu, 0.198 g/t Pt, 0.540 g/t Pd and 0.010 g/t Au (0.749 g/t PGM+Au) over a 6.24 meter interval from 102.23 meters downhole.

N-07-41B grading 1.29% Ni, 0.06% Cu, 0.180 g/t Pt, 0.506 g/t Pd and 0.010 g/t Au (0.695 g/t PGM+Au) over a 14.15 meter interval from 281.79 meters downhole.

N-07-41B grading 1.47% Ni, 0.04% Cu, 0.169 g/t Pt, 0.497 g/t Pd and 0.019 g/t Au (0.685 g/t PGM+Au) over an 8.84 meter interval from 300.07 meters downhole.

Flying Nickel Minago PGM Assay Program Update

The Company has prepared and submitted a total of 3,371 samples (4,041 meters) from 47 drill holes to SGS from Minago's Nose deposit. The Company expects to receive and publish the final two batches of assay results in April and May 2023.

The sample size is smaller compared to originally planned 5,450 samples totalling 7,061 meters described in detail in the news release dated January 17, 2023. This is because Flying Nickel had found favourable PGM assays from additional 2,116 samples totalling 2,972 meters from 13 historical (1990) drill holes by Blackhawk Mining. Nuinsco Resources Ltd. assayed those 13 drill holes for PGM in 2004 with the following results and yet did not publish them in public.

Assay highlights from the Blackhawk series holes are tabulated below:

BHK 46A-90 grading 1.24% Ni, 0.03% Cu, 0.260 g/t Pt, 0.566 g/t Pd and 0.011 g/t Au (0.837 g/t PGM+Au) over a 13.41 meter interval from 376.73 meters downhole.

BHK 46A-90 grading 1.54% Ni, 0.09% Cu, 0.212 g/t Pt, 0.588 g/t Pd and 0.015 g/t Au (0.815 g/t PGM+Au) over a 5.79 meter interval from 558.09 meters downhole.

BHK 48-90 grading 1.15% Ni, 0.10% Cu, 0.196 g/t Pt, 0.524 g/t Pd and 0.036 g/t Au (0.756 g/t PGM+Au) over a 13.94 meter interval from 278.97 meters downhole.

BHK 54-90 grading 1.63% Ni, 0.05% Cu, 0.352 g/t Pt, 0.735 g/t Pd and 0.037 g/t Au (1.124 g/t PGM+Au) over a 6.10 meter interval from 147.83 meters downhole

About Minago Project

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.

QA/QC

The sampling process incorporated blanks, standards (certified reference material) and duplicates. The blank samples were comprised of crushed limestone; two standard types were used which alternated from a high Ni concentration to a low Ni concentration and duplicates were created from half the material of the previous sample. QAQC samples were inserted at intervals of 20.

Contact:

Tel: 1.877.664.2535

Email: info@flynickel.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 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

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