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Higher-Grade Nickel Sulphides Confirmed at Zeb Across Multiple Zones - Mineralisation Remains Open

Vancouver, British Columbia--(Newsfile Corp. - July 11, 2025) - ZEB Nickel Corp. (TSXV: ZBNI) (OTCQB: ZBNIF) ("Zeb" or the "Company") is pleased to report assay results and geological interpretations from a two-hole drilling programme at the Zeb Nickel Project in Limpopo, South Africa. Drilled vertically, the holes validate the Zeb geological model, and confirms the presence of thicker, higher-grade nickel-copper-PGE ("Ni-Cu-PGE") horizons beneath the historic open-pit resource and demonstrates that mineralisation remains open both along strike and at depth.

Key Value Highlights

• Two drillholes plus two deflections completed intersected mineralised material in both Zone 1 and Zone 2.

• Zone 2 Ni-Cu-PGE mineralisation confirmed to be present in a previously untested area beneath Zone 1, confirming the geological model.

• Thicker, higher-grade intervals beneath the historical resource

• Zone 2: up to 2.27 m @ 0.27 % Ni, 0.17 % Cu, 2.27 g/t 3PGE+Au and 4.06 m @ 0.23 % Ni, 0.14 % Cu, 1.36 g/t 3PGE+Au

• Zone 3: up to 0.70 m @ 0.65 % Ni, 0.40 % Cu within a broader 2.73 m @ 0.39 % Ni

• Multiple semi-massive sulphide hits confirm the geological model and strengthen the analogy with world-class feeder conduit systems.

• Mineralisation remains open along strike and at depth, highlighting meaningful scale-up potential for both tonnage and grade.

The Zeb mineral system is divided into four stacked horizons: Zone 1 forms the near-surface, bulk-tonnage nickel-bearing unit of the Lower Uitloop body that underpins the historical Ni resource.

Zone 2, immediately beneath and adjacent to Zone 1, contains Ni-Cu-PGE mineralisation similar to that found at Ivanhoe Mines's Platreef Mine and Valterra Platinum's (formally known as Anglo American) Mogalakwena Mining Complex.

Zone 3 is a feeder-style ultramafic chonolith, the geometry of which was recently confirmed in an airborne gravity and magnetic survey.

Zone 4 broadly encompasses areas of gold mineralisation intersected in drillholes.

Two holes (Z031 and Z033) where drilled, both at a vertical angle, and were designed to test the true vertical depth of the mineralised sequences and test for down-dip continuity of Zone 2 beneath Zone 1. Two deflections, Z031D1 and Z031D2, were drilled off Z031. No deflections were drilled off Z033. Boreholes and deflections were drilled using a NQ core diameter size. The locations of these holes are shown in Figure 1 below.

Boreholes Z031 and Z033 successfully intersected Ni and Ni-Cu-PGE mineralisation in Zones 1 and 2 respectively, while Z031 and its deflections also intersected what is interpreted as Zone 3 mineralisation. The assay results confirm the presence of thick, higher-grade Ni-Cu-PGE mineralised intervals of varying grade beneath the historical resource envelope and confirm the continuity of mineralisation in line with previous intersections along strike.

Importantly, the data provides strong evidence that the Ni-Cu-PGE mineralisation in Zone 2 continues below Zone 1 and may fully extend beneath Zone 1, meaning that the area holds increased potential to host a significant Ni-Cu-PGE resource. This is shown in the cross sections in Figure 2 and Figure 3.

The boreholes also intersected Zone 3 semi-massive Ni-PGE sulphide mineralisation, further validating the presence of semi massive to massive sulphides associated with the chonolith and supporting the potential for a large, continuous magmatic system that hosts massive nickel sulphide, targets of which were identified in the recent airborne magnetic and gravity survey.

Highlights of results

Zone 2

• 2.27 m @ 0.27 % Ni, 0.17 % Cu, 2.27 g/t 3PGE+Au
  *including 0.77 m @ 0.31 % Ni, 0.18 % Cu, 2.19 g/t 3PGE+Au (346.23 - 348.50 m; Z031D1).

• 4.06 m @ 0.23 % Ni, 0.14 % Cu, 1.36 g/t 3PGE+Au (342.44 - 346.50 m; Z031D0)
  *including 1.56 m @ 0.30 % Ni, 0.18 % Cu, 1.72 g/t 3PGE+Au.

Zone 3

• 1.03 m @ 0.60 % Ni, 0.14 % Cu, 0.57 g/t 3PGE+Au (330.97 - 332.00 m; Z031D0).

• 0.70 m @ 0.65 % Ni, 0.40 % Cu, 0.36 g/t 3PGE+Au within 2.73 m @ 0.39 % Ni (338.53 - 341.26 m; Z031D0).

The mineralised zones remain open both along strike and at depth, and the geological model proposes that further down-dip drilling may intersect significantly higher-grade Ni-Cu-PGE mineralisation. This interpretation is supported by analogous mineralisation styles and grades observed at neighbouring world-class deposits, including Ivanhoe Mines' Platreef Project and Valterra Platinum's Mogalakwena Mining Complex.

Of particular significance is the consistent intersection of semi-massive sulphide mineralisation associated with Zone 3 in the central part of the Uitloop body, where a potential chonolith structure may link the Uitloop I and II bodies. This is an exciting development, as such a chonolith could host a larger, more continuous sulphide accumulation due to its structural setting and potential to channel enriched magmatic pulses during emplacement and develop a Ni-PGE rich massive sulphide.

Figure 1: Location of the boreholes overlain on the geological map of the project area. Assay results are from the two boreholes shown in bold (Z031D0 and Z033D0), while the other labelled boreholes are included in the cross-sections shown in Figure 2 below.

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Table 1: Newly reported Assay Results from Z031 and Z032.

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*3PGE+Au equals platinum + palladium + rhodium + gold by fire assay with ICP-AES Finish;
^Total Ni assay by complete digestion, representing the silicate and sulfide portion of Ni;
Additional drilling is required to determine true thickness;
"Depth From", "Depth To" and "Sample Thickness" reported are depths from surface down the drill hole.

Figure 2: Cross-section along lines A – C demonstrating the continuity of Ni-Cu-PGE mineralisation within Zone 2 beneath the Lower Uitloop body.

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Figure 3: Cross-section along lines A – B demonstrating the continuity of Ni-Cu-PGE mineralisation within Zone 2 beneath the Lower Uitloop body. The central portion of the section highlights consistent intersections of semi-massive Ni-PGE mineralisation. Notably, historical boreholes Z03 and Z017 were terminated prematurely, before intersecting the full extent of the Ni-Cu-PGE mineralised package.

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Photographs of the sulphide mineralisation are shown in Figure 4, which demonstrates that the mineralising systems are working in line with the geological model and that the area holds significant potential for further Ni-Cu-PGE mineralisation.

Figure 4: The photographs illustrate examples of blebby to semi-massive sulphide mineralisation intersected during the recent drilling program. (A) and (B) show coarse blebby sulphides composed of pyrrhotite, pentlandite, and chalcopyrite from borehole Z031D0. (C) displays a semi-massive, net-textured sulphide zone dominated by the same sulphide assemblage, with an assay grade of 0.59 g/t 3PGE+Au and 1.00% Ni over a 0.56 m interval.

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The Company commented:

These results validate our geological model and confirm that Zeb Nickel has the scale and grade to become a significant critical-metal asset. With mineralisation open in multiple directions, and several exciting targets identified from the recent airborne magnetic and gravity survey, we are as excited as ever about the growth runway ahead and look forward to updating the market on further exploration plans.

About the Company and Project

Zeb Nickel Corp is focused on exploring for and developing world-class mineral deposits, with a focus on metals that are critical in the production of rechargeable batteries, such as nickel, graphite, lithium, cobalt, manganese, copper and aluminum. The Company is currently focused on developing its flagship Zeb Nickel Project, located in Limpopo, South Africa. The Zeb Nickel Project is a developing Class 1 nickel sulfide project strategically located in the Bushveld Complex in South Africa.

Cautionary Note Regarding Forward-Looking Statements

This press release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this release, other than statements of historical fact, are forward-looking statements, including but not limited to: interpretations of geophysical data, the potential extension and connectivity of ultramafic bodies, the existence and extent of a feeder or plumbing system, the significance of magnetic and gravity anomalies, statements regarding the potential for massive Ni-Cu-PGE sulphide mineralisation, the planned re-processing and interpretation of geophysical data, the intention to delineate drill targets in Zone 2 and Zone 3, the objective of declaring a higher-grade maiden NI 43-101 compliant mineral resource, and the broader development strategy of the Zeb Project.

Forward-looking statements are based on a number of assumptions believed by management to be reasonable at the time such statements are made, including but not limited to: the accuracy of the Company's interpretation of geophysical and geological data, the availability of financing on reasonable terms, the ability to obtain necessary regulatory approvals in a timely manner, the results of planned exploration activities, and assumptions regarding market conditions and commodity prices.

Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. These risks and uncertainties include, but are not limited to: fluctuations in commodity prices, the outcome of current and future exploration and drilling programs, capital and operating costs varying significantly from estimates, the ability to secure financing and maintain access to capital markets, delays or inability to obtain necessary permits, approvals or licences, political and regulatory risks, environmental risks, and other risks related to mineral exploration and development.

There can be no assurance that such statements will prove to be accurate, and actual results and future events may differ materially from those anticipated. Readers are cautioned not to place undue reliance on forward-looking statements. All forward-looking statements contained in this press release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

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