Nearctic Nickel Mines Inc. Provides Update

Toronto, Ontario--(Newsfile Corp. - May 6, 2022) - Nearctic Nickel Mines Inc. (OTC Pink: NNMIF) (the "Company"), announces that its Quebec affiliate, Ungava Mineral Exploration Inc., ("UMEI"), by further amendment of the presently outstanding Motion for Damages, claims compensation for acts of disguised expropriation.

Disguised expropriation occurs in Quebec when a party is deprived of its property without compensation.

The re-amended Motion for Damages will be appended to the Material Change Report to be filed 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/123065