Power Nickel Inc. announced high-grade multi-elements assay results for hole PN-24-055. Not only does current hole PN-24-057 show spectacular grades, but the thickness of the intersection is also equally impressive. It is noticeable that the relative quantity of semi-massive chalcopyrite observed in both PN-23-031A and PN-24-044, while excellent, observed to be dwarfed when compared to some of the other holes coming from the core of the zone.

Hole PN-24-047 and PN-24-053 recently confirmed this observation, which is well supported by the results obtained for PN-24-055 (this release). The Company's winter 2024 drill program ended with 15 successful holes at the Lion Discovery. Additional assays released keep supporting the ongoing progress on the discovery that has been made.

Power Nickel will continue to drill at the Lion Discovery in the upcoming summer season, following up PN-24-051 and PN-24-062, the deepest mineralized intersections to date. Table 1 below presents the significant results of previously released holes, and the current Assay Status for the remaining holes of the program. Note: Length is presented as downhole distance; true width corresponds to 60-80% of such downhole distance in function of the orientation of the hole.