Vancouver, British Columbia, October 25, 2024 – Québec Nickel Corp. (CSE: QNI; FSE: 7lB; OTCQB: QNICF) (“QNI” or the “Company”) announces that it is undertaking a private placement offering (the “Offering”) to raise up to $250,000 from the sale of 2,000,000 units (the “Units”) at $0.125 per Unit.  Each Unit comprises of one common share (the “Shares”) and one-half of one share purchase warrant (the “Warrants”) exercisable for a period of two years.  Each whole Warrant is exercisable into one Share at a price of $0.225 per Share.

The Units will be offered to existing shareholders under British Columbia Instrument 45-534 – Exemption from Prospectus Requirement for Certain Trades to Existing Security Holders, and equivalent provisions of applicable securities laws in other jurisdictions of Canada (the “Existing Shareholder Exemption”).

In order to be eligible to participate in the Offering, only those shareholders who hold shares of the Company as at October 24, 2024 (the “Record Date”) can participate. Any person who becomes a shareholder of the Company after the Record Date is not permitted to participate in the Offering. Existing shareholders who are interested in participating in the Offering should contact the Company before November 15, 2024 at the contact information set out in this press release.  The Offering is on a first-come, first-served basis.

There are conditions and restrictions when relying upon the Existing Shareholder Exemption; namely, the subscriber must: a) be a shareholder of the Company on the Record Date (and still is a shareholder); b) be purchasing the units as a principal, that is, for their own account and not for any other party; and c) may not purchase more than $15,000 value of securities from the Company in any 12-month period, unless they have first received suitability advice from a registered investment dealer, and, in this case, subscribers will be asked to confirm the registered investment dealer’s identity and employer.

No finder’s fees will be payable in connection with the Offering.

The proposed net proceeds received from the Offering are intended to be used by the Company for general working capital purposes.

Subscribers in all Canadian jurisdictions may utilize the Existing Shareholder Exemption. Existing shareholders resident in countries other than Canada will need to meet local jurisdiction requirements to participate.

No directors or officers will participate in the Offering.

The Offering is subject to approval of the Canadian Securities Exchange.  Securities issued under the Offering will be subject to a hold period which will expire four months and one day from the date of closing of the Offering.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Québec Nickel Corp.

Québec Nickel Corp. is a mineral exploration company focused on acquiring, exploring, and developing critical metals (Ni-Cu-Co-PGE) projects in Québec, Canada. Additional information about Québec Nickel Corp. is available at www.quebecnickel.com.

The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

On behalf of the Board of Directors

David Patterson
Chief Executive Officer and Director

1 (855) 764-2535 (QNICKEL)
info@quebecnickel.com

Offering Contact Details:

David Patterson
1 (855) 764-2535 (QNICKEL)
info@quebecnickel.com

CAUTIONARY AND FORWARD-LOOKING STATEMENTS

This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this news release, other than statements of historical facts that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in the forward-looking statements. Factors that could cause the results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market, or business conditions. Investors are cautioned that such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates, opinions, or other factors should change.