Toronto, Ontario--(Newsfile Corp. - September 27, 2024) - Nickel 28 Capital Corp. (TSXV: NKL) (FSE: 3JC0) ("Nickel 28" or the "Company") has released its results for the quarter ended July 31, 2024. All figures are expressed in United States dollars, unless otherwise indicated.

Quarterly Highlights

The Company's principal asset, an 8.56% joint-venture interest in the Ramu Nickel-Cobalt integrated operation in Papua New Guinea ("Ramu"), had another outstanding quarter. Highlights from Ramu and the Company during the quarter include:

Production of 7,555 tonnes of contained nickel and 675 tonnes of contained cobalt in mixed hydroxide precipitate ("MHP") during the second calendar quarter, placing Ramu as one of the top producers of MHP globally
Sales of 7,666 tonnes of contained nickel and 684 tonnes of contained cobalt in MHP during the second calendar quarter
Actual cash costs for the second calendar quarter, net of by-product sales, of US$3.37/lb. of contained nickel
Share of operating profit from Ramu Nickel Mine of $2.2 million during the second calendar quarter
Quarter end cash balance of US$7.3 million
Total net and comprehensive income of US$1.2 million (US$0.01/share) for the three months ended July 31, 2024
Total non-recourse construction debt of US$45.2 million as at July 31, 2024

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