FPX Nickel Announces Support from the Province of British Columbia for the Advancement of the Baptiste Nickel Project

VANCOUVER, BC, Sept. 3, 2024 /CNW/ - FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) ("FPX Nickel" or the "Company") is pleased to announce that the Province of British Columbia has identified the Baptiste Nickel Project ("Baptiste" or the "Project") as a project to be included in the Province's newly-established Critical Minerals Office ("CMO") concierge service initiative, a foundational strategy action to enable the prioritization of critical minerals projects in B.C. The CMO will be a key entry point into the natural resource sector agencies and provide centralized support for the advancement of critical minerals projects like Baptiste, and to leverage potential project funding opportunities from provincial and federal sources.

"We are grateful that the Province of British Columbia has recognized the significance of Baptiste, and believe the CMO initiative provides an excellent structure to proactively identify and address issues and opportunities ahead of the Project's entry into the environmental assessment process. We are committed to deepening our ongoing collaboration with First Nations and the governments of British Columbia and Canada to develop a project that creates substantial and sustainable benefits while protecting the environment for future generations."

- Martin Turenne, President and CEO of FPX Nickel

"The critical minerals sector is foundational for our clean energy future. We launched the Critical Minerals Office to help advance sustainable development of this vital sector in the province, in alignment with our robust environmental, social and governance standards. Projects like FPX Nickel's Baptiste are essential, as they have the potential to help drive unparalleled growth in the sector, while creating reliable opportunities for both British Columbians and global investors. I'm very proud of the work between FPX Nickel and the Critical Minerals Office and look forward to future collaboration as the Project moves forward."

- The Honourable Josie Osborne, British Columbia's Minister of Energy, Mines and Low Carbon Innovation

The Critical Minerals Office was established as a key pillar of the Province's Critical Minerals Strategy in early 2024. The goals of B.C.'s Critical Minerals Strategy are as follows:

• Expand First Nations partnerships, shared decision-making and reconciliation;
• Increase business certainty to attract investment; and
• Establish funding partnerships to advance critical mineral projects in B.C.

The CMO will assist projects like Baptiste by featuring:

• Concierge service for critical minerals projects with support for issues resolution, funding opportunities and regulatory processes;
• Project management support on pre-permitting and pre-regulatory processes, including federal processes; and
• Dedicated government resources to advise proponents and assist in the establishment of agreements with First Nations.

It is anticipated a CMO working group will meet regularly to address issues and opportunities related to the advancement of Baptiste, with a priority focus on supporting collaborative decision-making processes with First Nation communities to define the Project together.

About the Baptiste Nickel Project

The Company's Baptiste Nickel Project represents a large-scale greenfield discovery of nickel mineralization in the form of a sulphur-free, nickel-iron mineral called awaruite (Ni₃Fe) hosted in an ultramafic/ophiolite complex. The Baptiste mineral claims cover an area of 408 km², west of Middle River and north of Trembleur Lake, in central British Columbia. In addition to the Baptiste Deposit itself, awaruite mineralization has been confirmed through drilling at several target areas within the same claims package, most notably at the Van Target which is located 6 km to the north of the Baptiste Deposit. Since 2010, approximately US $30 million has been spent on the exploration and development of Baptiste.

The Baptiste deposit is located within the territories, keyohs, and consultative boundaries of the Tl'azt'en Nation, Binche Whut'enne, Yekooche First Nation, and Takla Nation.

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Baptiste Nickel Project, located in central British Columbia, and other occurrences of the same distinctive style of awaruite nickel-iron mineralization.

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne, President, CEO and Director
Email: ceo@fpxnickel.com
Phone: 604-681-8600

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

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