Statement of Defense Received from Attorney General of Quebec

Toronto, Ontario--(Newsfile Corp. - October 20, 2022) - Nearctic Nickel Mines Inc. (OTC Pink: NNMIF) announces that Ungava Mineral Exploration Inc., its Quebec affiliate, has received a Statement of Defense to the action commenced on 2 September, 2015, against the Quebec Ministry of Energy and Natural Resources. The Motion for Damages was attached to a Material Change Report filed by Nearctic on SEDAR dated 2 September, 2015. That Motion was recently amended and the amended version was attached to a Material Change Report filed by Nearctic on SEDAR dated 6 May 2022.

An unofficial English translation of the Statement of Defense will be attached to the Material Change Report to be filed by Nearctic in connection with this Press Release.

For further Information, please contact:

Glen Erikson
President
(905) 274-7188

Forward-Looking Information
This news release contains forward-looking statements within the meaning of the "safe harbour" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors which may cause the Company's results to differ materially from expectations. These include risks relating to market fluctuations, vestee performance and other risks. These forward-looking statements speak only as of the date hereof. The Company disclaims any intent or obligation to update these forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/141304