Toronto, Ontario–(Newsfile Corp. – February 17, 2022) – Premium Nickel Resources Corporation (“PNR“) and North American Nickel Inc. (TSXV: NAN) (“NAN“) are pleased to announce that they have executed a non-binding letter of intent (“Non-Binding LOI“) providing for a business combination of PNR and NAN, which would be implemented by way of a “Reverse Takeover” (under the policies of the TSX Venture Exchange (the “Exchange“)) of NAN by PNR.