[Ferro-Alloys.com] Flying Nickel Mining Corp. announced that it has filed its independent Technical Report titled "Gibellini Vanadium Project Eureka County, Nevada NI 43-101 Technical Report on Mineral Resources " (the "Technical Report") with an effective date of September, 27, 2023. The Technical Report was prepared by Wood Group USA Inc. (Wood) and Mine Technical Services Ltd. (MTS).

The Technical Report has been filed under the Company's profile on the System for Electronic Document Analysis and Retrieval at . The Gibellini Vanadium Project ("The Project") is located in Eureka County, Nevada, about 25 miles south of the town of Eureka. The Project consists of the Gibellini, Louie Hill and Bisoni- McKay vanadium deposits.

The Project is 100% owned by Nevada Vanadium Mining Corp. ("Nevada Vanadium") which has entered into a definitive arrangement agreement dated October 6, 2022 pursuant to which Flying Nickel will acquire all of the issued and outstanding common shares of Nevada Vanadium by way of a court-approved plan of arrangement (the "Transaction", refer to Company's news release dated August 23, 2022, and October 7, 2022). The Project is located on public lands administered by the Bureau of Land Management (BLM) through the Mount Lewis Field Office located in Battle Mountain, Nevada.

On June 28, 2019, Nevada Vanadium submitted a Plan of Operations (PoO), to the BLM's Mount Lewis Field Office. In addition, a Reclamation Permit Application was submitted to the Nevada Division of Environmental Protection (NDEP) and Bureau of Mining Regulation and Reclamation (BMRR), collectively the NDEP-BMRR. The following steps have been completed in support of Project permitting: Baseline studies have been completed and accepted by the BLM.

The PoO and NDEP Reclamation Permit application was submitted to the BLM and NDEP and accepted as complete. The permit will be issued following approval of the PoO through the NEPA process. Supplemental Environmental Reports have been completed and accepted by The BLM.

A Notice of Intent was published in the Federal Register on July 14, 2020, that formally began the Environmental Impact Statement analysis. A Notice of Availability for the Final Environmental Impact Statement was published in the Federal Register in the Federal Register on September 15, 2023. This starts a 30-day notice period prior to publication of the Record of Decision approving the Final Environmental Impact Statement.

The Water Control Pollution Permit application with the Engineering Design Report was submitted to the NDEP-BAPC, and the final permit issued. The final Radioactive Material License No. 7-11-13424-01 was issued by the Nevada Department of Health and Human Services on October 11, 2021.

Under the assumptions in the Technical Report, the Project has reasonable prospects for eventual economic extraction and represents an opportunity for future development when market conditions are favorable. Recommendations include field survey of claims, the collection of additional geological data from existing exposures on the Project, and the preparation of plans for future infill drilling to improve geological models and increase confidence in the mineral resource estimates. Planning of metallurgical test programs are recommended for the Louie Hill and Bisona-McKay deposits to support future prefeasibility level studies.

Lastly, Flying Nickel retracts certain Gibellini Project Preliminary Economic Assessment disclosed in the Company's news release dated August 23, 2022, which is considered historic al in nature and should not be relied upon. Data Verification. Standard Reference Materials, blanks, and duplicates were inserted by the Project operator with routine drill samples during the 2007-2008 and 2010 drill programs to control assay accuracy and precision.

AMEC (now known as Wood) performed two data verification exercises, one in 2008, and a second during 2011, in support of studies on the Gibellini property. Both audits concluded that the data were generally acceptable for mineral resource estimation; however, restrictions on confidence classifications were made for some drill programs supporting mineral resource estimation at Gibellini and Louie Hill. The MTS QP and Silver Elephant staff completed several data verification programs to confirm the data verification programs to confirm the Data Verification.

In the data quality of the data quality of the resource database is acceptable for mineral resource database is acceptable for mineral resources. In the MTS QP's opinion, the Bisoni-McKay resource database is acceptable for mineral Resource database is acceptable for mineral resource estimation purposes. Because of data quality issues identified in the MTS QP's view of data quality issues identified in The MTS QP's opinion.

In the MTS QS opinion, the MTS QP's decision of data quality issues identified for mineral resource estimation purposes.

• [Editor:tianyawei]