C$2 Million Private Placement to Support Acquisitions and Development of High-Grade Nickel-Copper PGE Project in Canada and Additional Projects in Chile: Power Nickel, Inc. (OTCBB: PNPNF)

- Canadian Junior Exploration Company Focusing on Developing High-Grade Project into Canada's First Carbon Neutral Nickel Mine.

- Expanding Historical Nickel-Copper PGE Mineralization to Test Initial Discovery Zone and to Explore Land Package for Adjacent Potential Nickel Deposits.

- PNPNF Also Owns Other Significant Land Packages in British Colombia and Chile.

- Acquisition of an Additional 30% of Nisk Project from Critical Elements Lithium. Bringing the Total PNPNF Percentage to 80%.

- Thick High-Grade Assays of Copper, PGMs, Gold, and Silver from New Lion Discovery.

- Plans Underway to Complete C$2 Million Private Placement.

- Power Nickel, Inc. (OTCBB: PNPNF) (TSXV: PNPN) (Frankfurt: IVV) is a Canadian junior exploration company focusing on developing the high-grade Nisk project into Canada's first Carbon Neutral Nickel mine.

The PNPNF NISK property comprises a significant land position (20 kilometers of strike length) with numerous high-grade intercepts. PNPNF is focused on expanding the historical high-grade nickel-copper PGE mineralization with a series of drill programs designed to test the initial Nisk discovery zone and to explore the land package for adjacent potential Nickel deposits.

In addition to the Nisk project, PNPNF owns significant land packages in British Colombia and Chile. PNPNF is in the process of reorganizing these assets in a related vehicle, through a Plan of Arrangement that will be presented to PNPNF shareholders of record for their approval.

PNPNF Extends Momentum - Closes Acquisition on 80% of Nisk Project

8.17% Copper, 69.14 g/t Silver, 8.44 g/t Platinium & 6.25 g/t Palladium,

0.57 g/t Gold & 0.58% Nickel over 14.42 m Highlight Successful Week!

On April 24th PNPNF announced it has completed the acquisition of an additional 30% of the Nisk Project from Critical Elements Lithium. The last remaining condition was the acceptance of the filing of an NI 43-101 Technical Report which was accomplished in Q1. This brings the PNPNF percentage to 80%. PNPNF will continue to fund 100% of expenditures at Nisk until such time as a Bankable Feasibility Study is presented.

"We are pleased to conclude our earn-in with Critical Elements on the Nisk Project. As we have seen with the posting of the impressive new NI43-101 Technical Report on the 2023 Mineral Resource Estimate on the Nisk Main Nickel Sulfide zone and the equally impressive high-grade Copper, Silver, Platinum, Palladium, Gold & Nickel discoveries at the Lion Zone. We have a real sentiment of having found a large prolific area hosting different styles of multi-element mineralization, each being a smaller part of a much larger system. We look forward to ramping up our efforts throughout 24 and 25 as we seek to bring these targets to a production decision." - Commented PNPNF CEO Terry Lynch

Thick High-Grade Assays of Copper, PGMs, Gold, and Silver from New Lion Discovery

On April 22nd PNPNF announced that the Company continues to expand its Near Surface High-Grade Copper, Platinum, Palladium, Gold, and Silver Zone 5km Northeast of its Main Nisk Deposit high-grade multi-elements assay results.

Highlights:

PN-24-047 returned, 14.42 m of 0.59 g/t Au, 69.14 g/t Ag, 8.17% Cu, 6.25 g/t Pd, 8.44 g/t Pt and 0.58% Ni

Including: 4.66 m of 0.85 g/t Au, 91.00 g/t Ag, 11.66% Cu, 8.42 g/t Pd, 6.69 g/t Pt, and 0.46% Ni, 3.01 m of 0.95 g/t Au, 167.46 g/t Ag, 17.33% Cu, 13.04 g/t Pd, 29.24 g/t Pt and 1.77% Ni

PN-24-051 returned, 11.40 m of 0.24 g/t Au, 13.95 g/t Ag, 2.51% Cu, 3.20 g/t Pd, 19.59 g/t Pt, and 0.18% Ni

Including 2.60 m of 0.40 g/t Au, 41.18 g/t Ag, 8.09% Cu, 8.37 g/t Pd, 84.75 g/t Pt and 0.54% Ni4.90 m of 0.23 g/t Au, 7.53 g/t Ag, 1.32% Cu, 2.47 g/t Pd, 0.53 g/t Pt and 0.12% Ni

"What we had previously noted visually has now been more than proven by assays returned from an independent accredited lab. In fact, many of these results were checked twice as they were well over normal detection limits. A good example of the assays being better than what we visually expected is hole 51 in Figure 1 - it doesn't look that thick but as the assays showed, it was a spectacular hole," commented Terry Lynch, PNPNF CEO.

The PNPNF Winter 2024 drill program ended with 15 successful holes at the Lion Discovery. Additional assays to be released when received shortly could evidence ongoing progress on the significant discovery that has been made. PNPNF will continue to drill at the Lion Discovery in the upcoming summer season, following up on PN-24-051 and PN-24-062, the deepest mineralized intersections to date.

C$2 Million Private Placement

On April 4th PNPNF announced that it plans to complete a Private Placement for up to 10 Million common shares of the Company, at a price of $0.20 per share, for gross proceeds of CAD $2,000,000. PNPNF has received conditional TSX Venture Exchange ("TSXV") approval for the Private Placement.

The financing is non-brokered but certain brokerage fees and/or finder fees payable in cash and /or finder warrants may be paid in accordance with applicable securities law and TSXV policies. Funds will be used for general corporate purposes and in particular will fund specific investor communications programs.

For more information visit: powernickel.com [about:blank] and https://tinyurl.com/yc8586ub

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Media Contact
Company Name: Power Nickel Inc.
Contact Person: CEO Terry Lynch
Email: Send Email [http://www.universalpressrelease.com/?pr=c2-million-private-placement-to-support-acquisitions-and-development-of-highgrade-nickelcopper-pge-project-in-canada-and-additional-projects-in-chile-power-nickel-inc-otcbb-pnpnf]
Phone: +1 647-448-8044
Address:Canadian Venture Building Suite 202 82 Richmond Street East
City: Toronto
State: Ontario
Country: Canada
Website: https://powernickel.com/



This release was published on openPR.