Peak Nickel Extends High-Grade Mineralised Zone At The Rodburn Ni-Cu-Co Project In Scotland – Mineralisation Still Open In All Directions

Peak Nickel Limited (“PNL” or the “Company”) is pleased to announce the latest drill results from the 2024 drilling programme at Rodburn. These holes have successfully extended the high-grade nickel-copper-cobalt (Ni-Cu-Co) mineralisation along strike and to depth at the South Zone. Mineralisation remains open in all directions.

Results have been received from three of the remaining six holes drilled in 2024 and are presented in Table 1 and shown on Section 1 and Section 2 below.

Hole RBD024 was the deepest drilled and intersected a wide zone of high-grade Ni-Cu-Co mineralisation from 159m. This intersect is ~70m down-dip of the deepest intercept in this zone and comprised 10.6m grading 0.69% nickel equivalent (“NiEq”) including 2.6m grading 0.93%NiEq from 167m. A further mineralised zone was intersected 7 metres below that (Section 1).

Holes RBD020 and RBD021 also extended the known mineralisation some 100m to the SW in previously undrilled ground along the 3,000m long target anomaly (Plan 1).

Earlier PNL drilling has already identified the potential for a large high-grade near surface Ni-Cu-Co resource with easy access. These latest results confirm the continuity and strong tenor of the mineralisation in the South Zone as well as increasing its grade and thickness down-dip.

On completion of the current £0.5m financing the Company will start the first stage of our 2025 evaluation by drilling a deep hole, 400m - 600m long, to further test the down-plunge continuity of the high-grade South Zone mineralisation (Section 2). This will be the first hole ever drilled below 200m at Rodburn.

PNL also plans to drill three shallow (~100m deep) holes to test the continuity of the robust mineralisation discovered in the North Zone. The Company has a JORC Exploration Target Estimate of 10Mt-20Mt grading 1.0% to 1.9% NiEq., and this will be tested by this work.

The Company has all requisite permissions for this programme and also intends to use down hole EM to evaluate the deeper potential of the mineralised zones. Results from this work will help design a much larger (~7,000m) drill programme planned for later in 2025, and to continue ongoing metallurgical and environmental studies.

Investors should also note that whilst Rodburn is the most advanced target within PNL’s land holdings there are also multiple geochemical & geophysical targets having similar characteristics to Rodburn to test.