Sentient IV Acquires Securities of North American Nickel Inc.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES AND NOT FOR DISSEMINATION IN THE UNITED STATES

MONTREAL, April 20, 2018 (GLOBE NEWSWIRE) -- Sentient Executive GP IV, Limited (for the general partner of Sentient Global Resources Fund IV, L.P.) ("Sentient IV") announces that it has acquired control over 13,333,333 Units of North American Nickel Inc. ("NAN") at a price of $0.075 per Unit. The Units were acquired pursuant to a previously announced private placement by NAN.

Each Unit is comprised of one common share of NAN (a "NAN Share") and one-half of one common share purchase warrant of NAN (each whole common share purchase warrant, a "NAN Warrant"). Each NAN Warrant entitles the holder to acquire a NAN Share at a price of $0.12 per NAN share until April 19, 2020. As such, Sentient IV acquired control over 13,333,333 NAN Shares and 6,666,666 NAN Warrants that represent approximately 2.52% of the outstanding NAN Shares, calculated on a partially diluted basis assuming the full exercise of the 6,666,666 NAN Warrants held by Sentient IV only.

Prior to the acquisition of the Units, Sentient IV had control over 356,476,487 NAN Shares (representing approximately 64.28% of the then outstanding NAN Shares) and the right to acquire 126,404,945 NAN Shares through 126,404,945 common share purchase warrants issued by NAN. In the event all of the 126,404,945 common share purchase warrants issued by NAN are fully exercised, Sentient IV would acquire control over a maximum of 482,881,432 NAN Shares (including the 356,476,487 NAN Shares over which Sentient IV has control). These combined holdings would represent approximately 70.91% of the then outstanding NAN Shares, calculated on a partially diluted basis assuming the full exercise of the 126,404,945 common share purchase warrants issued by NAN held by Sentient IV only.

Immediately after the acquisition of the Units, Sentient IV has control over 369,809,820 NAN Shares (representing approximately 46.93% of the outstanding NAN Shares) and the right to acquire 133,071,611 NAN Shares through 133,071,611 common share purchase warrants issued by NAN. In the event all of the 133,071,611 common share purchase warrants issued by NAN are fully exercised, Sentient IV would acquire control over a maximum of 502,881,431 NAN Shares (including the 369,809,820 NAN Shares over which Sentient IV has control). These combined holdings would represent approximately 54.60% of the outstanding NAN Shares, calculated on a partially diluted basis assuming the full exercise of the 133,071,611 common share purchase warrants issued by NAN held by Sentient IV only.

Sentient IV acquired the Units for investment purposes only and not with a view to materially affecting control of NAN. Depending upon market conditions and other factors, Sentient IV   may, from time to time, acquire or dispose of additional securities of NAN, in the open market, by private agreement or otherwise, or acquire interests in or enter into related financial instruments involving a security of NAN.

The head office address of NAN is 1055 West Hastings Street, suite 2200, Vancouver, British Columbia V6E 2E9.

For further information or to obtain a copy of the Early Warning Report filed by Sentient IV, please contact Sue Bjuro at (345) 946-0933.