FPX Nickel Provides Environmental Assessment Progress Update – Successful Completion of Federal and Provincial Review of the Baptiste Project Initial Project Description

Press Release

Vancouver, April 21, 2026 – FPX Nickel Corp. (TSX-V: FPX, OTCQX: FPOCF) (“FPX” or the “Company”) acknowledges the issuance of the Joint Summary of Issues and Engagement (“the Joint Summary”) from the BC Environmental Assessment Office (“BC EAO”) and the Impact Assessment Agency of Canada (“IAAC”) following their coordinated review of the Initial Project Description as part of the environmental assessment (“EA”) process for the Company’s Baptiste Nickel Project (“Baptiste” or “the Project”). The Joint Summary is a customary procedural step in the EA process that summarizes the engagement and comments received by BC EAO and IAAC, identifies Indigenous Nations that are included in the EA process and provides clarity for subsequent EA steps.

The Joint Summary for Baptiste includes:

• A summary of early engagement by the BC EAO and IAAC with First Nations and confirmation that eight First Nations will be included as part of the EA process;
• A summary of comments received from the public and from provincial and federal subject matter experts; and
• Direction from BC EAO and IAAC to FPX to consider and respond to comments received during early engagement and planning phases in the subsequent phases of the EA process.

In the next step of the EA process, FPX will incorporate the outcomes of the Joint Summary into a Detailed Project Description concluding the early engagement and planning phases of the EA process. The Detailed Project Description will provide definition for the required information, permits and timelines for the EA, with a planned submission in mid-2027 consistent with defined EA processes.

“I want to extend our sincere appreciation to First Nations, members of the public and technical reviewers for taking the time to thoughtfully review and provide comments on this initial phase of the EA process for Baptiste,” stated Martin Turenne, President and CEO of FPX Nickel. “It is clear from the comments received that there is a strong desire to see new responsible economic development and good, family-supporting jobs come to this region of the province.”

“Progressing through this first step in the EA process brings definition and direction to subsequent phases of the EA process for Baptiste,” said Nigel Fisher, Vice-President, Environment. “Having achieved a positive outcome through the first of four public comment periods in the EA process, we are continuing to advance our collaborative design processes in the next stages. We are committed to ensuring that the EA will support building the best project possible, through a comprehensive, transparent and robust assessment.”

About the Baptiste Nickel Project

The Company’s Baptiste Nickel Project represents a large-scale greenfield discovery of nickel mineralization in the form of a sulphur-free, nickel-iron mineral called awaruite (Ni₃Fe) hosted in an ultramafic/ophiolite complex. The absence of sulphur and our ability to connect to the BC Hydro grid means that Baptiste has the potential to be one of the lowest carbon-intensive nickel producers in the world and will produce a very high-grade product that does not require any intermediate smelting or complex refining. The Baptiste mineral claims cover an area of 453 km²west of Middle River and north of Trembleur Lake, in central British Columbia. In addition to the Baptiste Deposit itself, awaruite mineralization has been confirmed through drilling at several target areas within the same claims package, most notably at the Van Target which is located 6 km to the north of the Baptiste Deposit. Since 2010, approximately US$55 million has been spent on the exploration and development of Baptiste.

In 2024, the Province of British Columbia identified the Baptiste Nickel Project as the first project to be included in the Province’s new Critical Minerals Office (“CMO”) concierge service initiative, a provincial strategy action to enable the prioritization of critical minerals projects in B.C. The CMO initiative is providing an excellent structure to proactively identify and address issues and opportunities ahead of the Project’s entry into the environmental assessment process.

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Baptiste Nickel Project, located in central British Columbia, and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company’s website at https://fpxnickel.com/ or contact Martin Turenne, President and CEO, at (604) 681-8600 or ceo@fpxnickel.com.

On behalf of FPX Nickel Corp.

“Martin Turenne”

Martin Turenne, President, CEO and Director

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