Economic Undertakings

Pacific Nickel Mines: CEO Presentation at Annual General Meeting

IMPORTANT NOTICE

This presentation may contain certain statements and projections provided by or on behalf of Pacific Nickel Mines Limited (“Pacific Nickel”) with respect to anticipated future businesses. These forward-looking statements reflect various assumptions made by or on behalf of Pacific Nickel.

aloneAccordingly, these statements are subject to significant business, economic and competitive uncertainties and contingencies associated with the mining industry which may be beyond the control of Pacific Nickel, which could

cause material differences in actual results or trends, including, but not limited to, price and currency fluctuations, geotechnical factors, drilling and production results, development progress, results of ” operations, reserve estimates, legislative, fiscal and regulatory developments, economic and financial market conditions in various countries, approvals and cost estimates, environmental risks, ability to meet funding requirements, volatility of stock prices.

Therefore, there can be no assurance that these statements and projections will materialize. Pacific Nickel makes no representation as to the accuracy or completeness of any such projection statement or that any forecast

will be reached. Further, Pacific Nickel makes no representations or warranties, express or implied, in connection with, and no liability or obligation (whether for negligence, under law or otherwise) is or will be accepted by

Pacific Nickel or by any of their respective officers, directors, shareholders, partners, employees or advisers as to or in connection with the accuracy or completeness of any information, statements, opinions or questions (express or

implied) arising out of, contained in or derived from this presentation or any omission from this presentation or any other written or oral information or opinion provided now or in the future to any interested party or its

advisers. By providing this presentation, Pacific Nickel does not undertake to provide any additional or updated information, whether as a result of new information, future events or results or otherwise. Nothing in this document should be construed as an offer to sell or a solicitation of an offer to buy or sell securities. It does not include all of the information available and should not be used in isolation as a basis for investing in Pacific Nickel.

useand also available on the Pacific Nickel website under the Investors tab: October 12, 2020 – Drilling to Begin at Solomon Islands Nickel Project, November 19, 2020 – Initial JORC Resource Estimate at Kolosori, November 24, 2020 – Jejevo Exploration Target and Drilling Update , November 24, 2020 – Jejevo Exploration Target and Drilling Update, December 17, 2020 – Jejevo Nickel Project Update, March 11, 2021 – Jejevo Nickel Project – Drilling Update, March 15, 2021 Kolosori Nickel – Planned Drilling & Pre-Development Update, June 23, 2021 Jejevo Nickel Project – Drilling Update, July 26, 2021 Kolosori Nickel Project – Drilling update, September 02, 2021 Stage 2 infill drilling begins at the Kolosori Nickel project, October 07, 2021 Initial JORC resource estimate at Jejevo, 13 October 2021 Drilling and stage 2 development – Kolosori Nickel project, November 18 Kolosori Nickel 2021 project – Drilling update and publication on November 18, 2021 of the scoping study for the Kolosori Nickel project.

This presentation contains information extracted from ASX market announcements reported in accordance with the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore

Reserves ”(“ 2012 JORC Code ”). Further details (including 2012 JORC Code reporting tables where applicable) of the exploration results mentioned in this presentation can be found in the following announcements filed on the ASX

staffThe exploratory study mentioned in this announcement was undertaken with the aim of a more in-depth evaluation of a potential development of the Kolosori Nickel project. This is a preliminary technico-economic study of

the potential viability of producing nickel ore shipped directly from the Kolosori nickel laterite project. The results of the scoping study, the production objective and the forecast financial information mentioned in this announcement are based on technical and economic evaluations of low level of precision which are insufficient to support the estimate of ore reserves, or to provide certainty that the conclusions of the study will be realized. Although each of the modifying factors has been considered and applied, there is no certainty of eventual conversion into ore reserves or that the production target itself will be achieved. Further exploration and appraisal work and appropriate studies are required before Pacific Nickel is able to estimate ore reserves or provide assurance of an economic development record.

The person responsible for each of the above announcements was Mr. Stuart Hutchin, member of the Australian Institute of Geoscientists and full-time employee of Mining One Consultants. Pacific Nickel confirms that it is not aware of any new information or data that materially affects the information included in any original ASX announcement. In addition, Pacific Nickel confirms that all significant technical assumptions and parameters underlying the mineral resource estimate at Kolosori in the “Initial JORC Resource Estimate at Kolosori” announcement and at Jejevo in the “INITIAL JORC (2012) ) JEJEVO RESOURCE ESTIMATE ”continue to apply and have not changed significantly. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been significantly changed.

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