Qubec Nickel Corp. reported new drilling assay results from its Ducros Ni-Cu-PGE Project, located 80 kilometres northeast of Val-d'Or, Qubec. These results come from exploration drilling completed at the Fortin Sill Zone in late 2022 and suggest the critical metals-rich (Cu- Ni-PGE) zone is open at depth and along strike.

HoleDG-22-63 returned a 4.90-metre-long drill intercept averaging 0.77% Ni, 0.56% Cu, 340 ppm Co and 0.80 g/t Pt-Pd-Au which includes a higher grade three-metre-long subinterval of 1.06% Ni, 0.77% Cu, 447 ppm Co and 1.09 g/t Pt-PD-Au. Individual one-metre-long samples from the reported intersection returned up to 1.27% Ni, 1.21% Cu, 559 ppm Co and 1.46 g/t Pt-P d-Au. The drill intercept occurs approximately 60 metres below and 55 metres to the southwest of the known extents of the Fortin Sill Zone and suggests the zone is open both at depth and along strike.

Assay results from five additional holes completed from the same drill pad as QDG-22-63 are pending. Follow-up exploration, expansion and definition drilling are planned for this winter and spring at the Fortin Sill zone. Hole QDG-22- 63 was completed late 2022 in response to anomalous Ni-Cu-PGE E results (all critical metals) returned from hole QDG-22-38, which was collared on the northeast side of the Fortin Sill zone discovery outcrop and drilled towards the southwest under the mineralized bedrock exposure.

Hole QDG- 22-38 returned anomalous nickel, copper, and PGE values well below and to the southwest, potentially down plunge, of the Fortin Sill zones. Later during the same drilling program, hole QDG-22-63 was collared to the southwest of the Fortin Sill discovery outcrop and drill towards 105deg Azimuth at a -75deg dip from an existing permitted drill pad to follow-up on the results from hole QDG-22-38. The 4.90-metre-long mineralized interval cut by QDG-22-63 begins at 109.10 metres downhole depth and returned 0.77% Ni, 0.56% Cu, 340 ppm Co and 0.80 g/t Pt-Pd-Au and includes a higher-grade three metre sub-interval of 1.06% Ni, 0.77% Cu, 447 ppm Co and 1.08 g/t Pt-Pd-Au.

A one-metre sample within this interval assayed 1.27% Ni, 1.21% Cu, 559 ppm Co and 1.46 g/t Pt-Pd-Au. The entire mineralized interval is characterized by the presence of heavily disseminated to net texture pyrrhotite and chalcopyrite with frequent multi centimeter to decimeter-wide semi-massive to massive sulphide veins, stringers, and clasts within a variably chlorite-altered and moderately to strongly foliated pyroxenite to gabbronorite host rock. Assay results for holes QDG-22-60, QDG-22-61, QDG-22-62, and QDG-22-64 through QDG-22-66, which were all collared from the same drill pad as QDG-22-63, are pending.

The occurrence of high-grade nickel-copper-PGE sulphides at depth of the at-surface Fortin Sill Zone warrants follow- up drilling and as such, several additional holes will be completed during the 2023 exploration program to evaluate the potential size and extent of this new target and/or potential extension of the Fortin Sill Zone. In addition, the new drilling will also test the updated geological model for the emplacement of the mineralized Fortin Sill intrusion, as discussed in the Company's December 15, 2022 news release. The occurrence of strongly anomalous to high-grade Ni-Cu-Co-PGE-Au mineralization in multiple drill holes at depth and potentially down plunge from the Fortin Sill Zone reinforces the potential for discovering additional Ni-Cu-Co-PGE-Au sulphide mineralization in the immediate area as well as throughout the greater Project area.

In addition to the assay results from hole QDG-22-63, anomalous Ni-Cu-Co-PGE-Au values from holes QDG-22-33 and QDG- 22-34 are also reported herein. These two holes were collared within 50 metres of the Fortin Sill Zone mineralized outcrop exposure and intercepted long core intervals of anomalous Ni-Cu-Co-PGE-Au mineralization starting at surface.