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North American Nickel Reports Exploration Results from the P-030-032 Target Area

12/16/2016

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 16, 2016) - North American Nickel Inc. (TSX VENTURE:NAN) (OTCBB:WSCRF) (CUSIP:65704T 108) (the "Company" or "NAN") is pleased to report exploration results from the P-030-032 target area on their 100% owned Maniitsoq nickel-copper-cobalt-PGM sulphide project in southwest Greenland. Exploration in this area in 2016 included drilling, prospecting, surface sampling and ground geophysical surveys.

Highlights include:

  • Gradient Induced Polarization (IP) chargeability anomalies coincident with two kilometre long P-030-032 norite intrusion
  • New gossans returning values of up to 2.26% Ni, 0.67% Cu and 0.33 g/t Pt+Pd+Au in surface grab samples and coincident with the IP chargeability trend
  • New discovery and drill intersection of norite hosted sulphides grading 0.54% Ni and 0.12% Cu over 8.0m at P-094

NAN CEO, Keith Morrison, commented: "The primary objective of our 2016 program was to prioritize zones that merit definition drilling starting in 2017. These results, although positive, are not compelling when compared with the results already press released this year from Mikissoq, Spotty Hill, Fossilik and P-013 SE. NAN is currently planning up to 20,000 metres of drilling for these areas in 2017."

The P-30-032 norite intrusion hosts a series of surface gossans and discrete geophysical targets with associated nickel-copper sulphide mineralization intersected in drilling. Work completed in 2016 has resulted in the discovery of a new nickel sulphide occurrence at P-094 and additional mineralized intersections at P-030 and P-032. In addition, the gradient IP survey successfully outlined a number of chargeability anomalies within and adjacent to the intrusion. Some of these anomalies can be directly correlated with surface gossans and mineralization intersected in drilling and others remain untested and unexplained.

Although further work is required to more fully define the continuity, volume and grade of mineralization hosted by the intrusion, the recent drilling at P-030 and P-032 did not return comparable grades and widths to intersections obtained in 2014 and 2015. As a result this mineralized intrusion ranks lower in priority compared to other target areas, for which the Company has already released significant drilling results, and is not expected to be a focus of drilling in 2017.

Further details of the exploration results are outlined below.

Drilling, Surface Sampling and Surface Electromagnetics (Tables 1 & 2; Figure 2)

The P-030-032 or historic "Nunanguit" target area is located in the southern portion of the Greenland Norite Belt and comprises a large, approximately two kilometre long, northeast striking norite intrusion with surface gossans and associated electromagnetic (EM) anomalies ("P-030", "P-032", "P-061" and "P-094"). Drill testing of EM anomalies by NAN during the period 2013 to 2015, intersected mineralization grading up to 0.63% nickel and 0.20% copper over 20.10 metres at P-030 and 0.79% nickel and 0.27% copper over 13.80 metres at P-032 (see news releases dated October 20, 2015 and November 11, 2014).

In 2016, six holes totalling 1,246 metres were completed to follow-up previously intersected mineralization and test new IP chargeability anomalies (see Tables 1 and 2 and Figure 2). Five of the holes intersected weakly mineralized zones variably comprising disseminated to blebby or clotty sulphides and fracture fillings. The mineralization typically graded between 0.10% and 0.60% nickel over core lengths ranging from 0.80 to 24.0 metres (see Table 2). Borehole electromagnetic surveys were completed in all holes and detected small off-hole conductors in each of the holes.

At the previously untested P-094 EM target, surface prospecting identified a new surface gossan and the 2016 IP survey identified a coincident strong chargeability anomaly. A grab sample from the gossan graded 2.26% Ni, 0.67% Cu and 0.33 g/t Pt+Pd+Au. A small surface EM survey was carried out over the gossan to define a drill target and this target was tested by hole MQ-16-124 which intersected 0.54% nickel and 0.16% copper over 8.0 metres from 55.00 to 63.00 metres. P-094 represents a new nickel-copper sulphide occurrence within the large P-030-032 norite intrusion.

A sixth hole was completed to test a strong chargeability anomaly located 400 metres northwest of P-030 and intersected strongly magnetic quartz diorite.

In 2016, additional prospecting and surface sampling was carried out to follow-up gossan picks generated from the Worldview-3 satellite spectral data. This work identified new gossan occurrences within the norite intrusion which returned a number of elevated nickel and copper values as well as the high grade sample noted above at P-094 (see Figure 2).

Table 1: Drill Collar Information, P-030-032 Target Area

Hole Number UTM East UTM North Elevation (m) Length (m) Azimuth Dip Target Area
MQ-16-120 471471 7217028 238 138 351 -58 P-030
MQ-16-122 472442 7217428 279 266 329 -67 P-032
MQ-16-123 472527 7217445 249 213 7 -56 P-032
MQ-16-128 472658 7217406 197 302 345 -80 P-032
MQ-16-124 472470 7217784 184 180 234 -51 P-094
MQ-16-126 471191 7217284 228 147 319 -60 North of P-030

Notes: Collar coordinates in UTM WGS84 Zone 22N

Table 2: Assay Results, P-030-032 Target Area

Hole Number From (m) To
(m)
Core Length (m) Ni
%
Cu % Co % S
%
Pt g/t Pd g/t Au g/t
P-030 Target
MQ-16-120 5.10 10.50 5.40 0.15 0.05 0.00* 0.80 0.01 0.00* 0.01
86.30 92.00 5.70 0.45 0.08 0.01 2.34 0.05 0.02 0.02
116.30 118.00 1.70 0.46 0.11 0.01 2.55 0.18 0.14 0.02
126.50 132.00 5.50 0.14 0.04 0.00* 0.69 0.05 0.03 0.01
P-032 Target
MQ-16-122 101.00 108.00 7.00 0.15 0.04 0.00* 0.74 0.02 0.01 0.01
192.00 216.00 24.00 0.23 0.06 0.01 1.16 0.02 0.01 0.01
MQ-16-123 114.35 121.00 6.65 0.12 0.02 0.01 0.42 0.01 0.00* 0.00*
131.00 136.00 5.00 0.23 0.06 0.01 1.19 0.01 0.00* 0.01
MQ-16-128 267.50 268.30 0.80 0.58 0.09 0.02 2.73 0.04 0.04 0.01
P-094
MQ-16-124 55.00 63.00 8.00 0.54 0.16 0.02 2.66 0.03 0.01 0.03
North of P-030
MQ-16-126 No assay samples

Notes: Intervals represent core lengths.

* Assay values for Co, Au and Pd are between >0.0 and 0.005 g/t, round to "0".

IP Survey (Figure 3)

A 19.1 line kilometre gradient IP survey was carried out over the P-30-032 norite intrusion in order to more fully define the distribution of mineralized norite and to aid in drill hole targeting. The survey identified a number of chargeability anomalies distributed along the entire length of the intrusion and occurring adjacent to the intrusion (Figure 3):

  • anomaly correlating with the P-030 mineralization which is open to the southwest where new gossans were identified
  • anomaly linking surface gossans with the subsurface P-032 mineralization
  • strong anomaly coincident with the new P-094 mineralization and EM target
  • strong chargeability anomaly located 400 metres north of P-030 and explained in drilling by strongly magnetic quartz diorite
  • strong unexplained anomaly located 300 metres west of P-030
  • unexplained anomaly located at the northeastern edge of the IP survey along a possible extension of the norite intrusion

Further work is required to define the continuity, volume and grade of mineralization which may be associated with the various IP chargeability anomalies in the P-030-032 target area.

Quality Control

The drilling was completed by Boart Longyear Canada utilizing two Boart LF-70 diamond drill rigs. Drill core samples (40.54 mm BQTK and 47.6 mm NQ) are cut in half by a diamond saw on site. Half of the core is retained for reference purposes. Samples are generally 1.0 to 1.5 metre intervals or less at the discretion of the site geologists. Sample preparation is completed at the ALS Minerals preparation lab in Öjebyn, Sweden. Sample pulps are sent by air courier to ALS Minerals analytical laboratory in Loughrea, Ireland. Blank samples and commercially prepared and certified Ni sulphide analytical control standards with a range of grades are inserted in every batch of 20 samples or a minimum of one per sample batch. Analyses for Ni, Cu and Co are completed using a peroxide fusion preparation and ICP-AES finish (ME-ICP81). Analyses for Pt, Pd, and Au are by fire assay (30 grams nominal sample weight) with an ICP-AES finish (PGM-ICP23).

Technical Information; Qualified Person

The Company is not aware of any legal, political, environmental or other risks that could materially affect the potential development of the project other than those set out in its annual information form filed on www.sedar.com. Please see below under the heading "Cautionary Note Regarding Forward-looking Statements" for further details regarding risks facing the Company.

All technical information in this release has been reviewed and approved by Patricia Tirschmann, P.Geo, who is the Qualified Person for the Company and Vice President Exploration, North American Nickel Inc.

About the Company

NAN is a mineral exploration company with 100% owned properties in Maniitsoq, Greenland and Sudbury, Ontario.

The Maniitsoq property in Greenland is a Camp scale project comprising 2,985 square km covering numerous high-grade nickel-copper sulphide occurrences associated with norite and other mafic-ultramafic intrusions of the Greenland Norite Belt (GNB). The >75km-long belt is situated along, and near, the southwest coast of Greenland accessible from the existing Seqi deep water port (See NAN News Release dated January 19, 2015) with an all year round shipping season and abundant hydro-electric potential.

The Company's Post Creek/Halcyon property in Sudbury is strategically located adjacent to the past producing Podolsky copper-nickel-platinum group metal deposit of KGHM International Ltd. The property lies along an interpreted extension of the Whistle Offset embayment structure. Such geological structures host major Ni-Cu-PGM deposits and producing mines within the Sudbury Camp.

Cautionary Note Regarding Forward-looking Statements

This press release contains certain "forward-looking statements" and "forward-looking information" under applicable securities laws concerning the business, operations and financial performance and condition of the Company. Forward-looking statements and forward-looking information include, but are not limited to, statements with respect to the success of exploration activities; impact of mineralogy, estimation of mineral resources at mineral projects of the Company; the future economics of minerals including nickel and copper; synergies and financial impact facilities; the benefits of the development potential of the properties of the Company and currency exchange rate fluctuations. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct.

Factors that could cause actual results to vary materially from results anticipated by such forward-looking statements include variations in metal grades, changes in market conditions, variations in recovery rates, risks relating to international operations, fluctuating metal prices and currency exchange rates, and other risks of the mining industry, including but not limited to the failure of plant, equipment or processes to operate as anticipated. The Company cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. Statements concerning mineral reserve and resource estimates may also be deemed to constitute forward-looking statements to the extent they involve estimates of the mineralization that will be encountered if the property is developed.

Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as that term defined in the Private Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbours created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from the expected results.

ON BEHALF OF THE BOARD OF DIRECTORS

Mark Fedikow, President

North American Nickel Inc.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the Figures associated with this release, please visit the following link: http://media3.marketwire.com/docs/1080500_figures.pdf

Contact Information:
North American Nickel Inc.
Jaclyn Ruptash
Corporate Communications
604-770-4334
Toll free: 1-866-816-0118