A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fc218d2b-e522-467a-888e-d9d45fb091c6

• Geotech Ltd has commenced a VTEM survey over the entire Alexo-Dundonald project area
  
• P&E Mining Consultants Inc. has completed field work on site and is nearing completion of the updated 43-101 Mineral Resource Estimate on Dundonald 
  
• Several Historic Nickel Sulphide Mineral Resources are currently being validated and brought into the overall Property Mineral Resources resulting in an increase to overall tonnage and grade

TORONTO, Sept. 24, 2020 (GLOBE NEWSWIRE) — Class 1 Nickel & Technologies Limited (“Class 1 Nickel” or the “Company”) (CSE: NICO), is pleased to announce that Geotech Ltd has commenced an extensive VTEM™ plus time-domain electromagnetic airborne survey at the Alexo-Dundonald Nickel-Copper-PGE Projects, and P&E Mining Consultants Inc. has completed field work and is now preparing the revised and upgraded NI 43-101 Mineral Resource Estimate.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7da9fa89-d39c-46d7-a16e-8e9b38c86d3b

The Alexo-Dundonald Ni-Cu-PGE Project consists of the Alexo North, Alexo South, Dundonald North, and Dundonald South deposits.

The Alexo Deposits sit on the northeast arm of a large interpreted “Z”-shaped komatiite fold, while the Dundonald Deposits sit in the middle and on the southwest arm of the same fold. A past producing operation (historical 2.0% to 4.0% nickel head grade) left historical nickel sulphide Mineral Resources (Ni-Cu-Co-PGE) that remain open at depth and along strike.

As previously announced, Geotech Ltd. is conducting the airborne VTEM and magnetic survey over the existing Alexo-Dundonald historical Mineral Resources and interpreted Z-folded komatiitic peridotite, providing Class 1 Nickel’s technical team data to map conductors of significance in subsurface areas that may be associated with magmatic semi-massive to massive Ni-Cu-Co-PGE sulphides, to an initial depth of approximately 300 metres. Targets from the airborne survey will be followed up using surface AEM and/or drilling, and borehole EM surveys, as appropriate.

Additionally, P&E Mining Consultants Inc., who has been engaged to upgrade the current NI 43-101 Mineral Resources to include the Dundonald North and South deposits, has completed on site work, having successfully completed core collection and representative sampling work as part of the validation of the historical information.

Class 1 expects to deliver to shareholders the updated NI 43-101 Mineral Resource within by early October.

Mr. Eugene Puritch, President of P&E Mining Consultants Inc. stated, “We are very encouraged by the amount and quality of historic drill core on site that will allow for the validation of the databases for the Dundonald South and Dundonald North deposits and bring them to NI 43-101 compliancy. Observed mineralization during the verification sampling process indicated the presence of nickel bearing sulphides.”

Qualified Person
The technical information in this news release has been reviewed and approved by Eugene Puritch, P.Eng. FEC, CET, President of P&E Mining Consultants Inc. and Independent Qualified Person as defined by NI 43-101.

About Class 1 Nickel & Technologies Limited

Class 1 Nickel & Technologies Limited (CSE: NICO) is a Mineral Resource company focused on the development of its 100% owned Alexo-Dundonald Project, an advanced portfolio of komatiite hosted magmatic nickel-copper-cobalt sulphide projects located 43 km northeast of Timmins, Ontario. 

For more information, please contact:

Benjamin Cooper, President
T: 416.454.0166
E: info@class1nickel.com

For additional information please visit our new website at www.class1nickel.com, our Twitter feed at www.twitter.com/ClassNickel or our LinkedIn Page at www.linkedin.com/company/class-1-nickel/.

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company’s management’s discussion and analysis as filed under the Company’s profile at www.sedar.com. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Geotech Ltd has been appointed to fly Heliborne VTEM™ and Horizontal Magnetic Gradiometer geophysical surveys over the entire 20 square km Alexo-Dundonald Ni-Cu-PGE Project area

• First ever modern geophysics campaign has commenced at Alexo-Dundonald Ni-Cu-PGE
• Geotech Ltd proprietary time-domain electromagnetic system VTEM™ deployed to confirm possible extents to zones of historical Mineral Resources and to identify new nickel targets
• Deeper penetrating ground-based geophysics to also determine possible depths to new Mineral Resource targets

TORONTO, Sept. 16, 2020 (GLOBE NEWSWIRE) — Class 1 Nickel & Technologies Limited (“Class 1 Nickel” or the “Company”) (CSE: NICO), is excited to announce that it has contracted Geotech Ltd to fly an extensive VTEM™ plus time-domain electromagnetic survey with additional horizontal magnetic gradiometry over its entire Alexo-Dundonald Nickel-Copper-PGE Property, situated 45 km northeast of the centre of Timmins, Ontario.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/333c98ad-55f3-4cf2-94a5-e453458962e2

The Alexo-Dundonald Ni-Cu-PGE Project consists of the Alexo, Kelex, Dundonald North and Dundonald South nickel deposits. The Alexo Deposit sits on the northeast arm of a large interpreted “Z”-shaped komatiite fold, while the Dundonald Deposit sits on the southwest arm of the same fold. A past producing operation (historical 2.0% to 4.0% nickel head grade) left historical nickel sulphide Mineral Resources (Ni-Cu-Co-PGE) that remain open at depth and along strike.

Geophysical consultant for Class 1 Nickel, Mr. Alan King, commented, “Class 1’s nickel team is eagerly anticipating the completion and interpretation of the VTEM survey. Having a new, higher resolution AEM survey will allow us to compare signatures from the known mineralized sulphide zones with what may lay deeper and/or surrounding the known deposits, and will be valuable in determining the potential of the Alexo-Dundonald Property.”

Conducting the VTEM and magnetic survey over the existing Alexo-Dundonald historical Mineral Resources and interpreted Z-folded komatiitic peridotite will allow the technical team to map conductors of significance in subsurface areas that may be associated with magmatic semi-massive to massive Ni-Cu-Co-PGE sulphides, to an initial depth of approximately 300 metres. Targets from the airborne survey will be followed up on using surface AEM and/or drilling, and borehole EM surveys, as appropriate.

The VTEM Plus system is Geotech Ltd.’s flagship helicopter TDEM system, with over 3,000,000 line-km flown around the world for base and precious metals exploration. It’s large transmitter dipole moment and high signal to noise are ideally suited for the komatiitic Ni-Cu-Co-PGE targets sought by Class 1 Nickel.

Mr. Eugene Puritch, President of P&E Mining Consultants Inc. stated, “Successful nickel sulphide mines can plunge to depths of in some cases more than 1 or 2 km from surface, therefore the potential size and scale of Alexo-Dundonald is presently unknown. Considering that the majority of historical drilling and mining at Alexo-Dundonald has only ever been shallow work at less than 100 m below surface, the great bulk of the 20 square km Property remains essentially untested. Therefore, we are all keenly interested to see the potential generation of additional nickel sulphide targets.”

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/28bcd206-e2cb-453f-b3de-cdd9658fc676

Qualified Person
The technical information in this news release has been reviewed and approved by Eugene Puritch, P.Eng. FEC, CET, President of P&E Mining Consultants Inc. and Independent Qualified Person as defined by NI 43-101.

About Class 1 Nickel & Technologies Limited

Class 1 Nickel & Technologies Limited (CSE: NICO) is a Mineral Resource company focused on the development of its 100% owned Alexo-Dundonald Project, an advanced portfolio of komatiite hosted magmatic nickel-copper-cobalt sulphide projects located 43 km northeast of Timmins, Ontario. 

For more information, please contact:

Benjamin Cooper, President
T: 416.454.0166
E: info@class1nickel.com

For additional information please visit our new website at www.class1nickel.com, our Twitter feed at www.twitter.com/ClassNickel or our LinkedIn Page at www.linkedin.com/company/class-1-nickel/.

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company’s management’s discussion and analysis as filed under the Company’s profile at www.sedar.com. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.

• Alexo and Dundonald Mineral Resource to be combined
• A positive increase to tonnage and grade is therefore anticipated
• Industry experts P&E Mining Consultants Inc. have been engaged  

TORONTO, Aug. 31, 2020 (GLOBE NEWSWIRE) — Class 1 Nickel & Technologies Limited (“Class 1 Nickel” or the “Company”) (CSE: NICO), a Canadian company developing nickel-copper-cobalt sulphide Mineral Resources 45km northeast of Timmins, Ontario, is pleased to announce that work has commenced at the Alexo-Dundonald Nickel project in Timmins Ontario to upgrade the Dundonald South historic Mineral Resource to CIM defined classifications and combine it with the existing Alexo Mineral Resource.

The Company has engaged mineral industry experts P&E Mining Consultants Inc. (P&E) to validate and classify the Dundonald Mineral Resource and combine it with Alexo in a NI 43-101 Technical Report.

Mr. Benjamin H Cooper, President of Class 1 Nickel said: “Now that Alexo and Dundonald are together in the one company we can execute a smart diversified strategy that is two pronged. Firstly, we will focus on a “more of the same” approach at Alexo, extending the resource along strike, as we build a database for the preliminary economic assessment work and push along the remaining permitting requirements. And secondly we will take a more aggressive and high impact approach to the 8 high grade close to surface zones of the Dundonald South Mineral Resource, in order to bring high grade tonnage into the combined Mineral Resource and increase our overall economics and size.” 

P&E Mining Consultants Inc. will work alongside the Company to upgrade the Mineral Resource, assist with the design and reporting of geophysics and drill programs, permitting, and undertaking a Preliminary Economic Assessment.  P&E will utilize its more than 20 Canadian based associates to leverage experience in geological interpretation, 3D geologic modeling, technical report writing, Mineral Resource and Mineral Reserve Estimates, property evaluations, mine design, production scheduling, operating and capital cost estimates and metallurgical engineering.

Mr. Tony Donaghy P.Geo, Principal Consultant – Nickel at CSA Global (an ERM Group Company) and strategic advisor to Class 1 Nickel affirmed: “I am confident that P&E Mining Consultants Inc. are more than adequately qualified to carry out the assignment of upgrading the Mineral Resource classification at Dundonald South. P&E knows these projects well and worked with us together as co-authors on the initial NI 43-101 Technical Report for Alexo-Dundonald.”

Mr. Eugene Puritch, P.Eng., FEC, CET, stated “It’s important for Class 1 Nickel to explain to the market that it possesses several potentially viable projects in its Timmins land package. Alexo, Kelex, Dundonald North and Dundonald South are all contiguous and located inside the 1 km komatiite flow. The sum of the parts results in a larger and more diversified Mineral Resource.” 

Initial P&E Mining Consultants Inc. scope of work to include: 

• Site visit and assay data validation sampling
• Geological interpretation
• Geostatistical analysis
• Grade Estimation
• Mineral Resource reporting and Technical Report

Class 1 Nickel looks forward to updating the market with the updated combined classified Mineral Resources in the coming weeks.   

Qualified Person
The information in this news release has been reviewed and approved by Eugene Puritch, P.Eng., FEC, CET, president of P&E Mining Consultants Inc.

About Class 1 Nickel & Technologies Limited

Class 1 Nickel & Technologies Limited (CSE: NICO) is a Mineral Resource company focused on the development of its 100% owned Alexo-Dundonald Project, an advanced portfolio of komatiite hosted magmatic nickel-copper-cobalt sulphide projects located near Timmins, Ontario. 

For more information, please contact:

Benjamin Cooper, President
T: 416.454.0166
E: info@class1nickel.com

For additional information please visit our new website at www.class1nickel.com and our Twitter feed:@Class1Nickel.

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company’s management’s discussion and analysis as filed under the Company’s profile at www.sedar.com. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

TORONTO, Aug. 27, 2020 (GLOBE NEWSWIRE) — Class 1 Nickel & Technologies Limited (“Class 1 Nickel” or the “Company”) (CSE: NICO), a Canadian company developing nickel-copper-cobalt sulphide Mineral Resources near Timmins, Ontario, is pleased to announce that a verification and review report has been submitted to the Company which has confirmed the existence of high grade mineralization from surface samples.

Mr. Martin Tuchscherer, P.Geo, PhD, Specialist Geological Technical Advisor to Class 1 Nickel, recently completed an initial site visit and verification review program at the Alexo-Dundonald Project with three purposes: (i) confirm the Ni-Cu-PGE mineralization at the Alexo and Kelex open pits; (ii) to review and re-sample mineralized core; and (iii) to confirm the location of old diamond drill hole collars.

Mr. Benjamin H Cooper, President of Class 1 Nickel indicated that: “The Company engaged Tascan Geosciences Inc. to review the project sites, take samples of previously blasted rocks from around the Alexo and Kelex open pits as well as around the Dundonald high grade historical resource and the PGE occurrences to the east. The results confirm the rock types and the high grade nature of the magmatic sulphide mineralization.”

The company is proud to have retained the services of Martin Tuchscherer who has worked as a senior geologist with Canadian Royalties Inc. for five years.

Initial Site Visit Highlights: 

• Grab samples taken from old mineralized piles at the Alexo and Kelex open pits confirm the high-grade nickel and platinum group elements (PGEs) abundances and tenor of these deposits
• Re-sampled core confirms the high nickel and high PGE contents of the Dundonald South Deposit
• Re-sampling of old Dundonald South core also confirmed the reproducibility of nickel (Ni), copper (Cu) and cobalt (Co) mineralization from historical work
• Geochemical results confirm samples taken from the Dundonald Beach and Dundonald South Deposit follow a mineralized komatiite trend
• Geochemical results for samples taken at Alexo, Kelex, Dundonald Beach and Dundonald South suggest that most samples formed in a dynamic, likely channelized komatiitic setting

A total of 38 samples were collected over a three-day period on the Alexo-Dundonald Project. These samples were submitted to ALS Canada Ltd. laboratories in Val-d’Or and Sudbury. Grab samples were sourced from surface ore boulders from the Alexo and Kelex open pits that are believed to originate from high grade mineralized material piles that were mostly processed and smelted in Sudbury. Samples were also collected from previously sampled historic drill core and from surface showings from Dundonald Beach, Mighty PGE showing and from outcrops from the Casey PGE showing areas.

Mineralized samples taken from the Alexo open pit have nickel grades ranging between 2.33% and 5.85% Ni. Mineralized samples from the Kelex open pit have nickel grades ranging between 0.988% and 5.55% Ni.

Analytical results from the eight core samples show a range in nickel grades from 1.02% Ni to 20.9% Ni.

Samples with less than 7% Sulphur (S) have major element compositions indicating a range from komatiite to komatiitic basalt.

Mr. Martin Tuchscherer states in his report:

• A plot of Chromium versus Nickel (derived from Brand, 1999) indicates that samples (0.2 to 2.0 %Ni) from the Dundonald Beach, Kelex and Dundonald South show an increasing nickel content that follow the “mineralized komatiite trend” – that is, these samples likely formed in a highly prospective komatiitic channelized setting. Samples that contain >2.0% Ni are obviously mineralized and do not plot on this diagram.
   
• A plot of Cu/Pd versus Pd (derived from Karykowski et al., 2017) indicates that mineralized samples from Dundonald Beach, Alexo, Kelex and Dundonald South correspond to high R factor values, typical of mineralization formed in a dynamic channelized setting.
   
• Exact Ni tenors cannot be calculated, since the S values exceed the analytical maximum, however, a sample result of up to 20.9% Ni was observed that indicating extremely high Ni tenors.

In conjunction with these findings Class 1 Nickel now intends to engage industry experts to update the current NI 43-101 Technical Report to include the Dundonald Deposits, that are currently historical in nature.

Class 1 is developing two projects simultaneously on its 20km² Timmins property. The Alexo-Kelex Project with an NI 43-101 Nickel Sulphide Mineral Resource open at depth and along strike situated in the northern part of the property area. The Dundonald North and South Projects are situated in the southern part of the Property area.

Previous drilling at Dundonald South has outlined eight east-west nickel-bearing sulphide zones (A-H) defined at shallow levels (>200 metres depth). Most of the lenses are open at depth and along strike. Historical Mineral Resources of 750,000 tonnes at 1.50% nickel sulphide reported by Falconbridge have been estimated in the past. Fresh, high grade Ni-Cu-PGE sulphide mineralization has been trenched at surface by Hucamp Mines. A selected Hucamp Mines sample of the mineralization returned 34.82% Ni, 0.30% Co, 3.7 g/t Pt, 5.8g/t Pd, 0.90 g/t Au, 0.44 g/t Os, 0.47 g/t Ir, 0.84 g/t Rh and 2.4 g/t Ru.

The Dundonald North is a nickel zone located on the north side of a west-plunging antiform, 2.2 km southeast and along strike from the Alexo Deposit. The zone has been traced along strike for 800 m and to a depth of 700 metres below surface with the best mineralized intersections in the centre of the channel (with historical grades up to 3.04% Ni).

Class 1 Nickel has not done sufficient work to validate or classify the historical grades at the Dundonald Project. The historical grades are not NI 43-101 compliant and should not be relied on by investors.

Webinar Update: 
Class 1 Nickel will be hosting a webinar with Amvest Capital on Thursday August 27, 2020 at 4:05 pm Eastern time (1:05 pm Pacific time). This will be a great opportunity to listen to Class 1 Nickel’s President and CEO, Benjamin Cooper. Listeners also can ask questions from Class 1 Nickel’s management. To register for the webinar (and have access to the replay) please go to:

https://attendee.gotowebinar.com/register/7612978237820978703?source=co.

Qualified Person
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in NI 43-101 and reviewed and approved by Eugene Puritch, P.Eng., a Qualified Person as defined by NI 43-101.

About Class 1 Nickel & Technologies Limited

Class 1 Nickel & Technologies Limited (CSE: NICO) is a Mineral Resource company focused on the development of its 100% owned Alexo-Dundonald Project, an advanced portfolio of komatiite hosted magmatic nickel-copper-cobalt sulphide projects located near Timmins, Ontario. 

For more information, please contact:

Benjamin Cooper, President
T: 416.454.0166
E: info@class1nickel.com

For additional information please visit our new website at www.class1nickel.com and our Twitter feed:@ClassNickel.

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company’s management’s discussion and analysis as filed under the Company’s profile at www.sedar.com. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.