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Power Nickel Caps Off Impressive Lion Zone Winter Drilling Program with CuEq Results of Holes 50 and 60 Ranging from 1.23% to 7.36%

Power Nickel Inc.  (the “Company” or “Power Nickel”) (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV) is pleased to announce high-grade multi-elements assay results for the remaining holes of its 2024 winter drill program. (see Figure 1 and Table 1 below).

Highlights:

PN-24-060 returned:
10.39 m of 0.19 g/t Au, 14.17 g/t Ag, 2.12 % Cu, 2.08 g/t Pd, 0.4 g/t Pt and 0.14% Ni
Including:
4.05 m of 0.31 g/t Au, 18.64 g/t Ag, 2.75 % Cu, 2.81 g/t Pd, 0.75 g/t Pt and 0.14% Ni
With:
1.7 m of 0.58 g/t Au, 38.61 g/t Ag, 5.95 % Cu, 4.54 g/t Pd, 0.95 g/t Pt and 0.19% Ni

PN-24-050 returned:
5.45 m of 0.13 g/t Au, 4.2 g/t Ag, 0.61 % Cu, 1.32 g/t Pd, 0.52 g/t Pt and 0.11% Ni
Including:
2.6 m of 0.17 g/t Au, 7.3 g/t Ag, 0.81 % Cu, 2.38 g/t Pd, 0.72 g/t Pt and 0.05% Ni
And:
1.25 m of 0.18 g/t Au, 2.72 g/t Ag, 0.95 % Cu, 0.76 g/t Pd, 0.76 g/t Pt and 0.29% Ni

“Our 2024 winter drilling program was very productive and holes 50 and 60 add a significant amount of positive mineralization. They also grew our knowledge base, as we begin to better understand the orientation of the Lion Zone and how the high grade is distributed. We now see a very robust and massive core of 100-150 metres in diameter and then halos of mineralized stringers that surround it for about 50 metres on each side. Holes 50 and 60 are from such mineralized stringer zones. With the addition of these last holes from our winter program, we now see the mineralized zone increasing by over 90% from our first approximation of the Lion Zone’s dimension. Successful drilling of the Lion Zone from our summer drilling program continues to add to this impressive discovery, with assays expected in late September,” commented CEO Terry Lynch.

The Company’s 2024 winter drill program ended with 15 successful holes at the Lion Discovery; this press release presents the assay results obtained for the remaining holes of the campaign. Power Nickel continues to drill at the Lion Discovery, following up at depth east of hole PN-24-051 and to the west of Hole 55 (see Figure1).

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