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

FPX Nickel Corp. has achieved a significant regulatory milestone with the issuance of the Joint Summary of Issues and Engagement from the BC Environmental Assessment Office and Impact Assessment Agency of Canada for the Baptiste Nickel Project. This marks the successful completion of the initial environmental assessment phase, representing the first of four public comment periods in the comprehensive EA process.

The Joint Summary confirms that eight First Nations will participate in the environmental assessment process and provides a framework for the next phase of development. The document summarizes early engagement feedback from Indigenous Nations, the public, and technical experts, providing clear direction for subsequent assessment steps. FPX will now incorporate these outcomes into a Detailed Project Description, planned for submission in mid-2027.

The Baptiste Project represents a unique opportunity in the global nickel sector, featuring a large-scale greenfield discovery of awaruite mineralization - a sulphur-free, nickel-iron mineral. The project's potential connection to the BC Hydro grid and absence of sulphur could position Baptiste as one of the world's lowest carbon-intensive nickel producers. The high-grade product would not require intermediate smelting or complex refining, offering significant processing advantages.

The project has gained strategic importance within British Columbia's critical minerals strategy, being the first project selected for the Province's new Critical Minerals Office concierge service initiative. This provincial support structure is designed to proactively address development challenges and opportunities ahead of the formal environmental assessment process. With approximately US$55 million invested in exploration and development since 2010, Baptiste represents a mature development opportunity in Canada's emerging critical minerals sector.