Nickel 28 Capital Corp (NKL)

Nickel 28 Releases Ramu Q1 Operating PerformanceJune 10, 2026 7:00 AM
NewsfileToronto, Ontario--(Newsfile Corp. - June 10, 2026) - Nickel 28 Capital Corp. (TSXV: NKL) (FSE: 3JC0) ("Nickel 28" or the "Company") is pleased to provide operational results for the calendar quarter ending March 31, 2026 for the Company's largest asset, the Ramu Nickel-Cobalt ("Ramu") integrated operation in Papua New Guinea. Nickel 28 currently holds an 8.56% joint-venture interest in Ramu which is operated by the Metallurgical Corporation of China ("MCC").Q1 2026 Ramu Highlights:Production of 8,785 tonnes of contained nickel in Mixed Hydroxide Precipitate ("MHP"), compared to 6,970 tonnes in the same period last year. Production of 855 tonnes of contained cobalt in MHP, compared to 648 tonnes in the same period last year.Nickel sales of 8,632 tonnes of contained nickel, compared to 6,133 tonnes in the same period last year. Cobalt sales of 838 tonnes of contained cobalt, compared to 569 tonnes in the same period last year.Nickel inventory on hand at quarter-end was 1,828 tonnes of nickel in MHP, compared to 1,674 tonnes at December 31, 2025.LME average nickel price of US$7.88/lb in Q1 2026, an increase of 11% from the same period last year.Average cobalt price of US$25.47/lb. in Q1 2026, an increase of 130% from the same period last year.Production costs, net of by-product credits were US$2.81/lb. of nickel produced as MHP, compared to US$3.61/lb in the same period last year, a decrease of 24%.Nickel 28's Chief Executive Officer, Craig Lennon stated: "Q1 2026 was strong from an operational perspective, with production tracking in line with expectations. While it remains early in the year, management remains confident the project will achieve its full-year production targets. No planned maintenance shutdowns occurred during Q1 2026; these are scheduled for Q2 and Q3.Nickel and cobalt pricing have remained robust, building on the positive momentum experienced at the end of 2025. Indonesian governmental policy initiatives appear to be targeting a nickel price environment of at least US$18,000/t (US$8.17/lb). The broader industry continues to closely monitor the allocation of Indonesian governmental production quotas (RKAB) for the remainder of the year, with respect to commodity price impact. Payability levels for both nickel and cobalt have also remained strong, consistently exceeding 90%, and management expects these favourable terms to continue through Q2 and Q3. The principal uncertainty currently facing the Ramu operation is the cost of sulphur, driven by reduced global supply given the ongoing conflicts in the Middle East. As higher-cost sulphur inventories are procured and consumed throughout the balance of the year, operating margins are expected to come under pressure, assuming nickel prices remain unchanged, relative to Q1 and Q2 to date. This impact of sulphur availability and pricing is being felt globally across the industry.The MHP market remains relatively tight, as evidenced by the strong payability levels currently being achieved. Should Indonesian governmental RKAB quota allocations constrain production, and/or sulphur supply disruptions continue, further tightening of the MHP market could occur, potentially providing positive support for market pricing."Ramu's operating performance for the period is presented below along with comparison to prior years.
20252026
Q1Q1Ore Processed (dry kt)
MHP Produced (dry tonne)
Contained Nickel (tonne)
Contained Cobalt (tonne)
Nickel Capacity Utilization (% of design1)724
16,902
6,970
648
86%985
21,697
8,785
855
108%MHP Shipped (dry tonne)
Contained Nickel (tonne)
Contained Cobalt (tonne)14,944
6,133
56921,363
8,632
838Production Cost Actual (2)$ 3.61$ 2.81 Note 1. Ramu's design capacity of 32,600 t Ni per year is an annualized benchmark. Quarterly utilization rates may exceed 100% in periods without maintenance shutdowns or when the operation benefits from incremental process improvements.
Note 2. Actual cost per pound of nickel contained in MHP net of by-product creditsThe figures in the table above have not been audited and are subject to change. As Ramu has not yet completed its local or corporate audit and have not yet reviewed accounting procedures in respect of the fiscal quarter; the financial information presented in this press release is preliminary, subject to audit, final adjustment and may change materially. The information presented above has not been reviewed or audited by the Company's auditor and should not be considered a substitute for reviewed or audited financial statements and should not be regarded as a representation by the Company as to the actual financial results.About Nickel 28Nickel 28 Capital Corp. is a nickel-cobalt producer through its 8.56% joint-venture interest in the producing, long-life Ramu Nickel-Cobalt Operation located in Papua New Guinea. Ramu provides Nickel 28 with significant attributable nickel and cobalt production thereby offering our shareholders direct exposure to two metals which are critical to the adoption of electric vehicles. In addition, Nickel 28 manages a portfolio of 10 nickel and cobalt royalties on development and exploration projects in Canada, Australia and Papua New Guinea.Scientific and Technical InformationDisclosures of a scientific or technical nature in this news release have been reviewed and approved on behalf of Nickel 28 by Alan Lambden, P. Geo., an independent consultant to Nickel 28 and a "qualified person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Cautionary Note Regarding Forward-Looking StatementsThis news release contains certain information which constitutes 'forward-looking statements' and 'forward-looking information' within the meaning of applicable Canadian securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to: statements and figures with respect to the operational and financial results; and statements with respect to the business and assets of the Company and its strategy going forward. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, most of which are beyond the Company's control. Should one or more of the risks or uncertainties underlying these forward-looking statements materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements, could vary materially from those expressed or implied by the forward-looking statements. The forward-looking statements contained herein are made as of the date of this release and, other than as required by applicable securities laws, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. The forward-looking statements contained in this release are expressly qualified by this cautionary statement.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No securities regulatory authority has either approved or disapproved of the contents of this news release.For more investor information - please contact:
Nickel 28 Investor Relations
Attn: Mr. Brett Richards
+1 905 449 1500
Email: info@nickel28.comTo view the source version of this press release, please visit https://www.newsfilecorp.com/release/300860 Original: Nickel 28 Releases Ramu Q1 Operating Performance

Nickel 28 Announces Filing of Annual Financial StatementsMay 29, 2026 8:00 AM
NewsfileToronto, Ontario--(Newsfile Corp. - May 29, 2026) - Nickel 28 Capital Corp. (TSXV: NKL) (FSE: 3JC0) ("Nickel 28" or the "Company") today announced that it filed on May 27, 2026 its annual audited financial statements for the financial year ended January 31, 2026 ("2025 financial year"). Full Year Highlights Key financial and operating highlights from the Company's financial year ended January 31, 2026, and the operations of the Company's principal asset, an 8.56% joint-venture interest in the Ramu Nickel-Cobalt integrated operation in Papua New Guinea ("Ramu"), included the following:Production of 33,007 tonnes of contained nickel and 3,099 tonnes of contained cobalt in mixed hydroxide precipitate ("MHP"), positioning Ramu among the larger global MHP producers. Sales of 32,627 tonnes of contained nickel and 3,061 tonnes of contained cobalt in MHP. Average production costs, net of by-product sales, of US$3.47/lb. of contained nickel. (1)[1]Average realised nickel prices of US$6.88/lb (US$15,164/t) and cobalt prices of US$16.07/lb (US$35,418/t).Total Ramu project revenue for the year of approximately US$529 million (2024 financial year US$471 million). Total net and comprehensive loss of US$1.1 million (US$0.01/share) (2024 financial year US$1.9 million, US$0.02/share). Financial year end cash balance of US$9.1 million (2024 financial year $8.1 million). Full year debt repayment of US$6.5 million, with a remaining construction debt balance of US$31.9 million as at January 31, 2026."During the financial year ended January 31, 2026, the Company repaid US$6.5 million of its construction debt, reducing the remaining balance to US$31.9 million at year end. In addition to the loan repayment, the Company received cash distributions totaling US$3.5 million in October 2025 and April 2026 and finished the year with a cash balance of US$9.1 million. While the operating margins for the Ramu project in 2025 were impacted by lower nickel prices, the Company successfully reduced corporate costs relative to prior years," stated Craig Lennon, Chief Executive Officer of Nickel 28.About Nickel 28Nickel 28 Capital Corp. is a nickel-cobalt producer through its 8.56% joint-venture interest in the producing, long-life Ramu Nickel-Cobalt Operation located in Papua New Guinea. Ramu provides Nickel 28 with significant attributable nickel and cobalt production thereby offering our shareholders direct exposure to two metals which are critical to the adoption of electric vehicles. In addition, Nickel 28 manages a portfolio of 10 nickel and cobalt royalties on development and exploration projects in Canada, Australia and Papua New Guinea.Scientific and Technical InformationDisclosures of a scientific or technical nature in this news release have been reviewed and approved on behalf of Nickel 28 by Alan Lambden, P. Geo., an independent consultant to Nickel 28 and a "qualified person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.Cautionary Note Regarding Forward-Looking StatementsThis news release contains certain information which constitutes 'forward-looking statements' and 'forward-looking information' within the meaning of applicable Canadian securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to: statements and figures with respect to the operational and financial results; and statements with respect to the business and assets of the Company and its strategy going forward. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, most of which are beyond the Company's control. Should one or more of the risks or uncertainties underlying these forward-looking statements materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements, could vary materially from those expressed or implied by the forward-looking statements. The forward-looking statements contained herein are made as of the date of this release and, other than as required by applicable securities laws, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. The forward-looking statements contained in this release are expressly qualified by this cautionary statement.Non-IFRS and Other Financial Measures Management uses actual production cost in this press release and other documents, which is a non-IFRS financial measure. Management uses this measure to monitor the financial performance of the Company and believes this measure enable investors and analysts to compare the Company's financial performance with its competitors and/or evaluate the results of its underlying business. This measure is intended to provide additional information, not to replace measures under International Financial Reporting Standards ("IFRS"), and does not have a standard definition under IFRS and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. As this measure does not have a standardized meaning, it may not be comparable to similar measures provided by other companies. This non-IFRS financial measure is reconciled to its most directly comparable IFRS measure below.Actual production costGiven that the mining and processing operations at Ramu yield by-products (including cobalt and chromite), which by-products are sold alongside the primary product from Ramu (nickel) as MHP to generate additional by-product revenue, the Company believes that disclosing "actual production cost", which represent the actual operating costs to produce one pound of contained nickel in MHP, net of by-product credits (expressed as $/lb nickel produced), provides useful information to investors in evaluating the Ramu's operating results in the same manner as management and the board of directors. Actual production cost is calculated as the Company's share of Ramu production costs and share of Ramu other costs, less cobalt and chromite by-product revenue and accounting adjustments, to calculate actual product cost, which is then divided by volume units (nickel) to ascertain unit actual production cost. Actual production cost is not a standardized financial measure under IFRS and therefore may not be comparable to similar financial measures presented by other companies.The following table reconciles reported twelve- and three-month production cost to actual production cost:


Twelve months ended
December 31, 2025

Three months ended
December 31, 2025
Share of Ramu production costs (1) (2)
$30,597,855
$12,147,392
Share of Ramu other costs (1) (3)

4,126,636

1,117,336
Less:

 

 
   Cobalt and chromite by-product revenue

(10,011.690)
(3,359,458)   Accounting adjustment

(3,102,486)
(3,629,440)Actual production cost

21,610,314

6,275,830
Volume units (nickel) produced (lbs)

6,227,180

1,552,880
Unit actual production cost ($/lb ni produced)
$3.47
$4.06
 Notes:(1) Refer also to Note 7(ii) of the Company's audited consolidated financial statements for the financial year ended January 31, 2026.
(2) Share of production costs are recognized as income in the period.
(3) Includes selling costs, sales commission, royalties and Papua New Guinea government levy.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No securities regulatory authority has either approved or disapproved of the contents of this news release.Investor Relations Contact Information:Nickel 28 Investor Relations
Attn: Brett Richards, Director
Tel: +1 905 449 1500
Email: info@nickel28.com[1] Non-IFRS financial measure. For additional information, see the "Non-IFRS and Other Financial Measures" section of this news release.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299368 Original: Nickel 28 Announces Filing of Annual Financial Statements

Nickel 28 Announces Increase in Ramu Mineral Resources and Mineral ReservesMay 15, 2026 7:00 AM
NewsfileToronto, Ontario--(Newsfile Corp. - May 15, 2026) - Nickel 28 Capital Corp. (TSXV: NKL) (FSE: 3JC0) ("Nickel 28" or the "Company") is pleased to provide an update on mineral resources and reserves based on data (unaudited) for the Ramu Nickel-Cobalt operation ("Ramu") from the project operator, China Metallurgical Group Corporation ("MCC"). Nickel 28 currently holds an 8.56% joint-venture interest in Ramu. Ramu is operated by MCC which, along with its partners, owns an 85.0% interest. Following repayment of the Company's construction debt owed to MCC, Nickel 28's ownership interest in Ramu will automatically increase to 11.3% at no cost to the Company. Additionally, when the Company has repaid the construction debt, the Company will have the option to purchase an additional 9.25% interest in Ramu at market value, which if exercised would take the Company's interest to 20.55%.The updated Ramu mineral resources and mineral reserve estimates provided by MCC (prepared by Nanjing Center, China Geological Survey ("Nanjing")) includes the addition of resources and reserves from exploration work undertaken in 2025, and was prepared according to the guidelines of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves ("JORC" or the "JORC Code") by Competent Persons as defined by those guidelines. The effective date of resource and reserve estimation is December 31, 2025. Key Highlights:Total mineral reserves tonnage remained effectively unchanged year-over-year, while average nickel grades increased from 0.81% to 0.87%, despite material depletion from ongoing mining activities, reflecting successful reserve replacement through continued drilling and resource conversion.Measured and indicated mineral resource tonnage increased by approximately 16% year-over-year, while average nickel grades decreased modestly from 0.88% to 0.81%, resulting in an approximate 13% increase in contained nickel. Year-over-year increases in mineral resources and continued reserve replacement were driven by successful exploration in 2025, including 1,026 boreholes for a total of 10,397 metres, primarily within Areas 4 West and 6. The 2025 remaining in-situ mineral resources have been adjusted to account for material depletion resulting from mining activities completed since the previous estimate in 2024. The overall increase in total mineral resources is primarily attributable to additional exploration drilling completed in Areas 4 west and 6 at the Ramu project.The Company wishes to caution investors that these updated estimates from Nanjing have not been prepared in accordance with National Instrument 43-101 - Standards for Disclosure for Mineral Projects ("NI 43-101"). "The updated mineral resource and reserve estimates reflect continued exploration success and ongoing conversion of mineral resources into mineral reserves at Ramu," commented Craig Lennon, Nickel 28's Chief Executive Officer and President. "At current production rates, the reserve base supports an estimated mine life of approximately 20 years, while the broader mineral resource inventory continues to provide additional long-term upside potential," continued Mr. Lennon.In November 2022, the Company's independent consulting firm (RedDot3D Inc.) conducted a site visit to the Ramu facility and mine site in order to satisfy themselves regarding drilling procedures, QA/QC, and general adherence to good practice with respect to mining activities. The Company and its independent consultants are satisfied that the Nanjing report appears reasonable and consistent with observations made during the site visit and due diligence review.Mineral Resources and Mineral ReservesThe following tables summarize the updated end-of-year 2025 mineral resources (Table 1) and reserves (Table 2) extracted from the JORC report dated May 13, 2026, prepared by Nanjing. The end-of-year 2024 summary of the mineral resources and reserves are shown for the purpose of identifying changes.Table 1 - Ramu Mineral Resources - Effective Date December 31, 2025 (100% basis)Year20252024CategoryTonnageAverage grade (%)TonnageAverage grade (%)(Mt)NiCo(Mt)NiCoMeasured1020.890.091110.920.09Indicated1030.830.07660.820.08Subtotal2050.860.081770.880.09Inferred240.810.08370.880.08 Note: Mineral resources at a cut off of 0.5% Ni and a minimum mineable thickness of 0.5m; mineral resources are inclusive of mineral reserves; the figures may not add exactly due to rounding; mineral resources do not include the +2mm rock fragments in the rocky saprolite layers; mineral resources that are not mineral reserves do not have demonstrated economic viability.Table 2 - Ramu Mineral Reserves - Effective Date December 31, 2025 (100% basis)Year20252024CategoryTonnageAverage grade (%)TonnageAverage grade (%)(Mt)NiCo(Mt)NiCoProven680.870.09660.80.09Probable80.900.09100.910.09Total760.870.09760.810.09 Note: Mineral reserves at a cut off of 0.5% Ni and a minimum mineable thickness of 0.5m; mineral reserves are included in mineral resources; the figures may not add exactly due to rounding; mineral reserves do not include the +2mm rock fragments in the rocky saprolite layers.About Nickel 28Nickel 28 Capital Corp. is a nickel-cobalt producer through its 8.56% joint-venture interest in the producing, long-life Ramu Nickel-Cobalt Operation located in Papua New Guinea. Ramu provides Nickel 28 with significant attributable nickel and cobalt production thereby offering our shareholders direct exposure to two metals which are critical to the adoption of electric vehicles. In addition, Nickel 28 manages a portfolio of 10 nickel and cobalt royalties on development and exploration projects in Canada, Australia and Papua New Guinea.Scientific and Technical InformationDisclosures of a scientific or technical nature in this news release have been reviewed and approved on behalf of Nickel 28 by Alan Lambden, P.Geo., an independent consultant to Nickel 28 and a "qualified person" as defined by NI 43-101. The majority owner and operator of Ramu is MCC Ramu Nico Ltd., a 67.02% owned subsidiary of MCC (through Metallurgical Corporation of China Ltd.), and is operated by Ramu NiCo Management (MCC) Limited, a wholly owned subsidiary of MCC. Metallurgical Corporation of China Ltd. is listed on the Hong Kong Stock Exchange and on the Shanghai Stock Exchange. The scientific and technical information in this news release, as well as additional material scientific and technical information with respect to the Ramu project, has been prepared by MCC in its capacity as operator of Ramu. While the underlying estimates were prepared in accordance with the JORC Code by the operator, the disclosure contained in this news release has been reviewed for compliance with NI 43-101 disclosure requirements. For reporting in a NI 43-101 format, the inferred resources are not totaled with the measured and indicated mineral resources. The Ramu data has been reviewed and verified in relation to CIM best operating practices for reporting and for scope and content of JORC and NI 43-101 reporting through a due diligence conducted by an independent qualified person on behalf of the Company. The technical report in respect of the updated mineral resource and reserve estimate, when filed, will contain more detailed information concerning individual responsibilities, associated quality assurance and quality control, and other data verification matters, and the key assumptions, parameters and methods used by the Company. The Company is not currently aware of any legal, political, environmental, or other material risks that would be expected to materially affect the current operation or reported mineral reserves and mineral resources.For additional scientific and technical information in respect of Ramu, including an overview of the sampling, analytical, and test data underlying the Company's previous mineral resource and reserve estimates (and associated quality assurance and quality control, and other data verification matters, and the key assumptions, parameters and methods used by the Company), please refer to the Company's current NI 43-101 technical report entitled "Ramu Nickel Cobalt Project, Located in Madang Province, Papua New Guinea, NI 43-101 Technical Report" dated effective as of October 25, 2019 filed under the Company's profile on SEDAR+ at www.sedarplus.ca.Cautionary Note Regarding Forward-Looking StatementsThis news release contains certain information which constitutes 'forward-looking statements' and 'forward-looking information' within the meaning of applicable Canadian securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to: statements and figures with respect to the operational and financial results; and statements with respect to the business and assets of the Company and its strategy going forward. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, most of which are beyond the Company's control. Should one or more of the risks or uncertainties underlying these forward-looking statements materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements, could vary materially from those expressed or implied by the forward-looking statements. The forward-looking statements contained herein are made as of the date of this release and, other than as required by applicable securities laws, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. The forward-looking statements contained in this release are expressly qualified by this cautionary statement.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No securities regulatory authority has either approved or disapproved of the contents of this news release.For more investor information - please contact: Nickel 28 Investor Relations
Attn: Mr. Brett Richards
+1 905 449 1500
Email: info@nickel28.comTo view the source version of this press release, please visit https://www.newsfilecorp.com/release/297457 Original: Nickel 28 Announces Increase in Ramu Mineral Resources and Mineral Reserves

Nickel 28 Announces Confirmation of Cash Distribution from Ramu Joint VentureMay 13, 2026 7:00 AM
NewsfileToronto, Ontario--(Newsfile Corp. - May 13, 2026) - Nickel 28 Capital Corp. (TSXV: NKL) (FSE: 3JC0) ("Nickel 28" or the "Company") is pleased to announce the pending receipt of its tenth cash distribution from the Ramu joint venture. Nickel 28 has received confirmation of a cash distribution for H2 2025 operating performance of approximately US$2.1 million in respect of its 8.56% joint-venture interest in the Ramu Nickel-Cobalt project in Papua New Guinea, which is operated by Metallurgical Corporation of China. Nickel 28 also received confirmation of the repayment of US$4.0 million of Nickel 28's portion of the remaining Ramu joint venture partner construction debt, reducing Nickel 28's attributable balance to approximately US$31.9 million. The timing of receipt of the distributions remains to be confirmed but is anticipated to occur during May 2026. Nickel 28 Chief Executive Officer, Mr. Craig Lennon commented: "2025 was a strong operational year for the Ramu project, with production of 33,007 tonnes of nickel and 3,099 tonnes of cobalt contained in mixed hydroxide precipitate ("MHP"), alongside sales of 32,627 tonnes of nickel and 3,061 tonnes of cobalt in MHP. Margins remained robust throughout the year, supported by average realised nickel prices of US$6.88/lb (US$15,164/t) and cobalt prices of US$16.07/lb (US$35,418/t). In addition, payable terms improved progressively over the course of the year."Mr. Lennon also noted: "Operationally, 2026 has commenced positively, with production tracking in line with target levels, nickel and cobalt prices trending above 2025 averages, and payable terms continuing to strengthen. The key challenge remains the significant increase in sulphur prices, which is a major consumable input for HPAL operations. HPAL projects in Indonesia are experiencing increasing difficulty sourcing sulphur, and where supply is available, elevated pricing is placing pressure on operating margins. While our margins are also being impacted, we currently continue to secure supply through the strong relationships and market access of our operating manager and major partner."About Nickel 28Nickel 28 Capital Corp. is a nickel-cobalt producer through its 8.56% joint-venture interest in the producing long-life Ramu Nickel-Cobalt Operation located in Papua New Guinea. Ramu provides Nickel 28 with significant attributable nickel and cobalt production thereby offering our shareholders direct exposure to two metals which are critical to the adoption of electric vehicles. In addition, Nickel 28 manages a portfolio of 10 nickel and cobalt royalties on development and exploration projects in Canada, Australia and Papua New Guinea.Cautionary Note Regarding Forward-Looking StatementsThis news release contains certain information which constitutes 'forward-looking statements' and 'forward-looking information' within the meaning of applicable Canadian securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to: statements with respect to the Proposed Expansion (including related to the conditions to completion of the Proposed Expansion and the timing thereof); statements with respect to the Company's potential alternatives under the joint venture agreements in respect of Ramu in the event that the Proposed Expansion proceeds; statements with respect to the potential impact of dilution under the Joint Venture Agreements on the Company's interest in the Ramu project (including any illustrative examples thereof); and statements with respect to the business and assets of Nickel 28 and its strategy going forward. Forward-looking statements involve known and unknown risks and uncertainties, most of which are beyond the Company's control. Should one or more of the risks or uncertainties underlying these forward-looking statements materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements could vary materially from those expressed or implied by the forward-looking statements. The forward-looking statements contained herein are made as of the date of this release and, other than as required by applicable securities laws, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. The forward-looking statements contained in this release are expressly qualified by this cautionary statement.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No securities regulatory authority has either approved or disapproved of the contents of this news release.Investor Relations Contact Information:Nickel 28 Investor Relations
Attn: Brett Richards, Director/Advisor
Tel: +1 905 449 1500
Email: info@nickel28.comTo view the source version of this press release, please visit https://www.newsfilecorp.com/release/297241 Original: Nickel 28 Announces Confirmation of Cash Distribution from Ramu Joint Venture

Nickel 28 Announces Proposed Ramu Expansion and Related DevelopmentsApril 15, 2026 7:00 AM
NewsfileToronto, Ontario--(Newsfile Corp. - April 15, 2026) - Nickel 28 Capital Corp. (TSXV: NKL) (FSE: 3JC0) ("Nickel 28" or the "Company") today announced that it has been advised by Ramu NiCo Management (MCC) Limited, the operator of the Ramu Nickel-Cobalt integrated operation in Papua New Guinea (the "Ramu Operation"), that a proposal for development has been lodged with the Mineral Resources Authority of Papua New Guinea under the Mining Act, detailing a proposed phase II expansion of the Ramu Operation (the "Proposed Expansion").Based on the application materials supporting the Proposed Expansion that the Company has reviewed, if completed, the Proposed Expansion would be expected to approximately double the production capacity of the current Ramu Operation at a projected cost of approximately US$1.6 billion. Among other things, the Proposed Expansion would be conditional upon the grant of requisite mining leases and permits by the Government of Papua New Guinea and the execution of certain required agreements with the Government of Papua New Guinea and other key stakeholders.Nickel 28 holds its interest in the Ramu Operation through its indirect wholly owned subsidiary, Ramu Nickel Limited, which is party to certain master and joint venture agreements with MCC Ramu NiCo Limited ("MCC"), the majority joint venture partner, and the other Ramu joint venture partners (collectively, the "Joint Venture Agreements"). In connection with MCC giving effect to and implementing a qualifying proposal to expand or materially change the Ramu Operation, certain governance steps under the Joint Venture Agreements are required. Among other things, MCC must make an offer to purchase from each qualifying minority joint venture partner (including Ramu Nickel Limited) its respective interest in the Ramu Operation for fair market value. A minority joint venture partner that does not sell its interest can elect to continue as a partner in the Ramu Operation and either fund its pro rata share of the prescribed costs (including its share of the expansion costs) or have its interest diluted using a formula defined in the Joint Venture Agreements. Generally, the dilution formula in the Joint Venture Agreements compares the development cost of the Proposed Expansion against all costs (including capital and operating) incurred over the life of the project.(1) In parallel with the above process of determining a qualifying minority joint venture partner's ultimate equity position in the Ramu Operation, MCC is entitled to exercise its rights under the Joint Venture Agreements to give effect to and implement the expansion proposal following the expiry of the prescribed offer period.In light of the Proposed Expansion, which meets the definition of a qualifying proposal under the Joint Venture Agreements, the Company is currently analyzing and evaluating its various options afforded to it under the Joint Venture Agreements."The Proposed Expansion represents a noteworthy development for Ramu," stated Craig Lennon, President & Chief Executive Officer of the Company. "Ramu has been a consistent producing operation, and MCC is an experienced operator and developer of nickel HPAL operations; we are confident that MCC has the expertise and capabilities to make the Proposed Expansion a success. The Company will carefully evaluate the options available to it under the Joint Venture Agreements in connection with the proposed expansion and continue to work constructively with MCC, with a view to maximizing value for shareholders," he concluded.Notes(1) Under the Joint Venture Agreements, if a joint venture party elects not to contribute its proportionate share of costs for a Proposal, that party's ownership interest in Ramu will be gradually reduced, or "diluted," on a monthly basis over the period during which the Proposal is being implemented. Specifically, each month, the party's ownership interest is recalculated by comparing the total historical costs of the existing Ramu project (excluding costs related to the new Proposal) against the combined total of those existing Ramu project costs plus the costs incurred in implementing the new Proposal. As spending on the new Proposal increases relative to the base Ramu project costs, the non-contributing party's interest decreases proportionally. During this dilution period, the party's share of Ramu project benefits, including its entitlement to product, as well as its share of ongoing Ramu project costs, will be adjusted each month to reflect its reduced ownership interest. This dilution is calculated each month using the following formula: IS(New) = IS(Old) x (EV Project / EV Project+Proposal), where "IS(New)" is the party's ownership interest following dilution on the first day of the month, "IS(Old)" is the party's ownership interest on the last day of the previous month, "EV Project" is the total cumulative Ramu project costs since inception (excluding costs related to the new proposal), and "EV Project+Proposal" is the total cumulative Ramu project costs inclusive of costs incurred in implementing the Proposal.About Nickel 28Nickel 28 Capital Corp. is a nickel-cobalt producer through its 8.56% joint-venture interest in the producing long-life Ramu Nickel-Cobalt Operation located in Papua New Guinea. Ramu provides Nickel 28 with significant attributable nickel and cobalt production thereby offering our shareholders direct exposure to two metals which are critical to the adoption of electric vehicles. In addition, Nickel 28 manages a portfolio of 10 nickel and cobalt royalties on development and exploration projects in Canada, Australia and Papua New Guinea.Cautionary Note Regarding Forward-Looking StatementsThis news release contains certain information which constitutes 'forward-looking statements' and 'forward-looking information' within the meaning of applicable Canadian securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to: statements with respect to the Proposed Expansion (including related to the conditions to completion of the Proposed Expansion and the timing thereof); statements with respect to the Company's potential alternatives under the joint venture agreements in respect of Ramu in the event that the Proposed Expansion proceeds; statements with respect to the potential impact of dilution under the Joint Venture Agreements on the Company's interest in the Ramu project (including any illustrative examples thereof); and statements with respect to the business and assets of Nickel 28 and its strategy going forward. Forward-looking statements involve known and unknown risks and uncertainties, most of which are beyond the Company's control. Should one or more of the risks or uncertainties underlying these forward-looking statements materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements could vary materially from those expressed or implied by the forward-looking statements. The forward-looking statements contained herein are made as of the date of this release and, other than as required by applicable securities laws, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. The forward-looking statements contained in this release are expressly qualified by this cautionary statement.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No securities regulatory authority has either approved or disapproved of the contents of this news release.Investor Relations Contact Information:Nickel 28 Investor Relations
Attn: Brett A. Richards, Director
Tel: +1 905 449 1500
Email: info@nickel28.comTo view the source version of this press release, please visit https://www.newsfilecorp.com/release/292562
Original: Nickel 28 Announces Proposed Ramu Expansion and Related Developments

Nickel 28 Provides Corporate UpdateFebruary 9, 2026 7:00 AM
NewsfileToronto, Ontario--(Newsfile Corp. - February 9, 2026) - Nickel 28 Capital Corp. (TSXV: NKL) (FSE: 3JC0) ("Nickel 28" or the "Company") today announced the grant of stock options of the Company. Grant of Stock OptionsThe Company has granted an aggregate of 810,811 stock options to purchase common shares of the Company to Mr. Craig Lennon under the Company's fixed stock option plan in connection with Mr. Lennon's long-term incentive compensation for the forthcoming financial year ended January 31, 2027. These stock options are exercisable at a price of $1.01 per common share for a period of five years. If earned, the stock options will vest rateably over three years with the first anniversary date set for February 1, 2027. The stock options will only be earned if the following total shareholder return ("TSR") performance criteria are met using a starting price of $1.09 per common share and running until the close of the market on January 31, 2027: (i) 25% of the stock options will be earned if the TSR over this period is 20% or greater; (ii) a further 25% of the stock options will be earned if TSR over this period is 40% or greater; (iii) a further 25% of the stock options will be earned if TSR over this period is 60% or greater; and (iv) a further 25% of the stock options will be earned if TSR over this period is 80% or greater.About Nickel 28Nickel 28 Capital Corp. is a nickel-cobalt producer through its 8.56% joint-venture interest in the producing long-life Ramu Nickel-Cobalt Operation located in Papua New Guinea. Ramu provides Nickel 28 with significant attributable nickel and cobalt production thereby offering our shareholders direct exposure to two metals which are critical to the adoption of electric vehicles. In addition, Nickel 28 manages a portfolio of 10 nickel and cobalt royalties on development and exploration projects in Canada, Australia and Papua New Guinea.Cautionary Note Regarding Forward-Looking StatementsThis news release contains certain information which constitutes 'forward-looking statements' and 'forward-looking information' within the meaning of applicable Canadian securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to, statements with respect to the business and assets of Nickel 28 and its strategy going forward. Forward-looking statements involve known and unknown risks and uncertainties, most of which are beyond the Company's control. Should one or more of the risks or uncertainties underlying these forward-looking statements materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements could vary materially from those expressed or implied by the forward-looking statements. The forward-looking statements contained herein are made as of the date of this release and, other than as required by applicable securities laws, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. The forward-looking statements contained in this release are expressly qualified by this cautionary statement.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No securities regulatory authority has either approved or disapproved of the contents of this news release.Investor Relations Contact Information:Nickel 28 Investor Relations
Attn: Brett Richards, Director
Tel: +1 905 449 1500
Email: info@nickel28.comTo view the source version of this press release, please visit https://www.newsfilecorp.com/release/283168
Original: Nickel 28 Provides Corporate Update

Was .30 Now 1.30

Nickel 28 = New name as of..............?

https://investorintel.com/investorintel-video/nickel-28s-anthony-milewski-discusses-the-impact-of-the-demand-and-price-surges-for-battery-grade-nickel/

https://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=CA%3ANKL&x=31&y=11&time=100&startdate=2%2F4%2F2020&enddate=2%2F21%2F2022&freq=1&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=2&style=320&size=3&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=9

https://www.google.ca/search?q=nickel+28+stock&sxsrf=AOaemvKAa8fz9xa3PoQN65qOLWPyIPCJjA%3A1643175473178&source=hp&ei=Md7wYbjWCOTl9APE0bGgDQ&iflsig=ALs-wAMAAAAAYfDsQV-jc4PACFdcEHUeWRwmGW3RiW9H&oq=NICKEL+28+&gs_lcp=Cgdnd3Mtd2l6EAEYADIFCAAQgAQyCwguEIAEEMcBENEDMgUIABCABDIFCAAQgAQyBQgAEIAEMgUIABCABDIFCAAQgAQyBQgAEIAEMgUIABCABDIFCAAQgAQ6DAgjECcQnQIQRhD6AToECCMQJzoOCC4QgAQQsQMQxwEQ0QM6CwguEIAEELEDEIMBOgsIABCABBCxAxCDAToICAAQgAQQsQM6DgguEIAEELEDEMcBEKMCOggILhCxAxCDAToICC4QgAQQsQM6CAgAELEDEIMBOgsILhCABBDHARCvAToFCC4QgARQAFjVG2CvMmgAcAB4AIABnQOIAckIkgEFOS40LTGYAQCgAQE&sclient=gws-wiz

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2736-tsx-venture/nkl/95112-industry-first-nickel-28-buys-carbon-offsets-for-its-share-of-ramu-nickel-and-cobalt-production.html

https://line.17qq.com/articles/mfhwnqhsy_p3.html

Sold 4m shares of GIGA and yet STILL holds 2% NSR ?

https://ceo.ca/@businesswire/conic-adds-c69-million-in-cash

Conix Metals Corp. tsxv:NKL otc:CONXF

Royalty company holding several Nickel Royalties (including 2% GIGA Metals Corp.)