Quebec Nickel Corp. (CSE: QNI; FSE: 7lB; OTCQB: QNICF) ('QNI' or the 'Company') is pleased to report drilling at its Ducros Ni-Cu-PGE project has returned long core lengths of serpentinized ultramafic rocks, including dunitic and peridotitic rock units.

These results, coupled with results from the limited historical drilling completed in the immediate area, suggest the Ducros Sill represents a very large nickel-cobalt exploration target very similar to surrounding high-tonnage nickel-cobalt projects in the Abitibi Greenstone Belt. The company also provides a corporate update as Richard Dufresne, nickel expert and current director of QNI takes the helm as interim CEO.

Highlights

QNI has drilled a fence of holes at the Ducros Sill target which cuts across a wide magnetic high feature representing the geophysical expression of the serpentinized portion of the ultramafic intrusion.

The fence of holes was designed to follow-up on historical drilling completed in 1987 which yielded 0.22% nickel and 120 ppm cobalt returned from dunitic rocks occurring in the last 20 metres of an abandoned 107-metre-long drill hole.

The three recently completed holes encountered long core intervals of variably serpentinized dunite and peridotite, including an almost 300-metre-long intersection in hole QDG-23-505.

Ducros Sill

The Ducros Sill target lies in the southern half of the two-kilometer wide by ten-kilometer long Ducros Ultramafic Sill Complex, in the south-central portion of QNI's Ducros property. Historically, three widely spaced holes were drilled at the Ducros Sill target by Abitibi Resources Ltd. ('Abitibi') in 1987. Assessment report drill logs for these holes describe variably serpentinized, magnetic dunitic +/- pyroxenitic rocks with occurrences of trace amounts of native copper and brucite throughout their entire drilled lengths (Quebec Government report GM 47268). Notable results include hole 87-6 which returned greater than 0.22% nickel and 120 ppm cobalt over the last 20 metres of the 106.7 metre long BQ diameter hole before being abandoned in bad ground.

Current Drill Results

Quebec Nickel completed a series of holes this winter along an east-west fence approximately 100 metres north of the Abitibi hole 87-06 which cuts across the entire 600-metre-wide magnetic high feature. The ultramafic intrusion responsible for the magnetic response is understood to dip steeply to the west, as is the case for most of the stratigraphy in this part of the Ducros property.

Hole QDG-23-503 was collared on the west side of the targeted magnetic high and was drilled eastward at a dip of -45-degree, towards the centre of the ultramafic intrusion. The hole encountered a package of intercalated mafic and ultramafic intrusive rocks, including gabbro, pyroxenite and dunite, from 23 to 308 metres downhole depth before cutting a 142-metre-long interval of serpentinized dunite, believed to be the same unit encountered in hole 87-6 by Abitibi. The hole remains in this lower dunite unit until the planned end of hole at 450 metres depth. Of note is the occurrence of native copper on fracture surfaces within the altered dunite unit.

Hole QDG-23-505 was collared approximately 210 metres east of QDG-23-503 and drilled towards the east at a -45-degree dip to the planned end of hole depth of 402 metres. The hole collared in variably serpentinized dunite at 21 metres hole depth and remained in the altered ultramafic unit until 314 metres, a 293-metre-long intersection, where it encountered metasedimentary basement rocks. The ultramafic unit is cut by rare narrow

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