Pacific Nickel Mines : Supplementary Prospectus

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ASX ANNOUNCEMENT

21 November 2021

Share Purchase Plan and Placement

Supplementary Prospectus

Pacific Nickel Mines Limited (ASX Code: PNM) (Pacific Nickel or Company) has today lodged a Supplementary Prospectus with ASIC in respect of its Share Purchase Plan (SPP) and Placement.

Authorised by the Board.

For further information please contact:

Mr. Andrew J. Cooke

Company Secretary

Email: acooke@pacificnickel.com

Please visit the company's website at www.pacificnickel.com

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1. RIGHT TO WITHDRAW
   In accordance with sections 724(2) of the Corporations Act, any Applicant who, prior to the date of this Supplementary Prospectus, lodged an Application for SPP Shares under the Prospectus, may withdraw their Application and be repaid their Application Amount, provided they give the Company written notice of their wish to do so within 1 month of the date of this Supplementary Prospectus.
   Any repayments made by the Company pursuant to an Applicant exercising their right to withdraw their Application will be made in full without interest.
   An Applicant who wishes to withdraw their Application and obtain a refund must submit a written request by email to the Company at acooke@pacificnickel.comso that it is received within 1 month of the date of this Supplementary Prospectus (i.e. by 5:00pm (AEDT) on 23 December 2021).
   The details for the payment of the refund cheque and address to which it should be sent as set out in the written request must correspond to the details contained in the Application Form lodged by that Applicant.
   If you do not wish to withdraw your Application, you do not need to take any action.
2. NEW APPLICATIONS
   All new applications for SPP Shares under the SPP Offer after the date of this Supplementary Prospectus must be made using the Application Form attached to or accompanying this Supplementary Prospectus (Supplementary Application Form) and otherwise on the terms set out in the Prospectus.
   Applications made after the date of this Supplementary Prospectus must NOT be made on an application form attached to or accompanying the Prospectus. The Supplementary Application Form contains detailed instructions on how it is to be completed.
3. AMENDMENTS TO THE PROSPECTUS
   As a result of the matters set out in Sections 2 and 3 of this Supplementary Prospectus, the following amendments are made to the Prospectus (as supplemented by the Supplementary Prospectus):

5.1 Timetable

The Company advises that the Closing Date of the SPP Offer has been extended 5:00pm (AEDT) on 30 December 2021, and accordingly the Indicative Timetable as set out on page 4 of the Prospectus is replaced with:

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5.2 Date Updates

As a result of the change in the Indicative Timetable, the following dates in the Prospectus are updated as follows:

1. in Section 1.6 (Chairman's Letter), on page 12 of the Prospectus:
2. 1. the dates set out in the indicative timetable are updated to reflect the timetable in Section 5.1 of this Supplementary Prospectus; and
   2. the scheduled closing date of the SPP Offer is updated to "5.00pm (AEDT) on Thursday, 30 December 2021";
3. in Section 2.1 (SPP Offer):
4. 1. on page 16 of the Prospectus, the Key Dates timetable is updated to reflect the timetable in Section 5.1 of this Supplementary Prospectus; and
   2. on page 17 of the Prospectus, the SPP Offer will close at "5:00pm (AEDT) on Thursday, 30 December 2021"; and
5. in Section 10, the definition of Closing Date be updated to "5.00pm (AEDT) on Thursday, 30 December 2021".

1. CONSENTS
   The Company confirms that as at the date of this Supplementary Prospectus, each of the parties that have been named as having consented to being named in the Prospectus have not withdrawn that consent.
2. DIRECTORS' AUTHORISATION
   This Supplementary Prospectus is issued by the Company and its issue has been authorised by a resolution of the Directors.

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In accordance with section 720 of the Corporations Act, each Director has consented to the lodgement of this Supplementary Prospectus with the ASIC.

Mr Terry Cuthbertson

Chairman