Nordic Nickel (ASX: $NNL) March 2024 Quarterly Report Highlights

Nordic Nickel Limited (ASX: $NNL) has reported an updated Mineral Resource Estimate (MRE) for the Hotinvaara Prospect, establishing the Pulju Project as a globally significant nickel sulphide district. The MRE has been increased to 418Mt @ 0.21% Ni, 0.01% Co and 53ppm Cu, with a substantial portion located within 250m of the surface. The Company's drilling and exploration programs in 2023 have more than tripled the in-situ contained nickel estimate, reaffirming the Project's credentials as a globally significant source of potential nickel supply. The Company also commenced a Base of Till drilling campaign on the recently granted Holtinvaara Exploration Licence area, designed to test nickel and copper sulphide targets on one of the three major prospective magnetic anomalies in the area.

Nordic Nickel Managing Director, Todd Ross, on March Quarterly Highlights

The delivery of an updated Mineral Resource Estimate for our flagship Pulju Nickel Project in Finland was the key highlight of the quarter, confirming the project's enormous scale and significance. Our drilling and exploration programs in 2023 underpinned a more than 300 per cent increase in contained nickel metal over the previous Resource update delivered in 2022, reaffirming the Project's credentials as a globally significant source of potential nickel supply. The global MRE at Hotinvaara now hosts a total of 862,800 tonnes of contained nickel metal, with the mineralisation remaining open in almost all directions. We are forging ahead with metallurgical testwork programs, as well as planning for our next round of drilling at Hotinvaara aimed at expanding and upgrading the existing Resource as well as seeking out potential higher-grade zones of mineralisation. Late in the Quarter we also kicked off a drilling program at our recently granted Holtinvaara exploration licence, which lies 5km north-east of the Hotinvaara deposit and is interpreted to represent a continuation of the same mineralised ultramafic rock sequence that hosts the Hotinvaara Resource. This Base of Till drilling program has been designed to test for nickel and copper sulphide targets on one of the three major prospective magnetic anomalies identified in the area. This area has never been previously explored and represents a very exciting target given its geological similarities to Hotinvaara. On the corporate front, we were very pleased to launch a new Investor Hub during the Quarter, aimed at providing a clear and transparent communications interface for investors. This will be an important tool for the Company moving forward and we look forward to keeping shareholders updated on our progress.

Outlook and Financial Commentary

Nordic Nickel's updated Mineral Resource Estimate for the Hotinvaara Prospect and the commencement of the Base of Till drilling program at the Holtinvaara Exploration Licence area mark significant progress for the Company. The substantial increase in contained nickel metal and the ongoing metallurgical test work program demonstrate the Company's commitment to maximizing the potential of the Pulju Nickel Project. The launch of the new Investor Hub reflects the Company's dedication to transparent communication with shareholders. With a strong financial position and upcoming work programs, including the mid-2024 results from the Bottom of Till drilling program and ongoing strategic discussions, Nordic Nickel is well-positioned to advance its district-scale Pulju Nickel Project in Northern Finland.