A decisive step toward construction of one of Quebec's most advanced critical minerals projects

Highlights

• The Government of Quebec has extended the validity of decree 526-2015, as amended, which authorizes the open-pit mining of the Dumont nickel deposition and construction and operation of an ore processing plant in the township of Launay and Abitibi-Témiscamingue.
• The extension allows Dumont Nickel to continue advancing toward a final investment decision and the start of project construction.
• The Dumont project is among Canada's most advanced nickel-cobalt projects and is positioned to contribute to critical minerals supply chains related to the energy transition, electric vehicles, defense and mineral sovereignty.

LAUNAY, QC, Aug. 5, 2026 /CNW/ -- Dumont Nickel LP ("Dumont Nickel" or the "Company") is pleased to announce that the Government of Quebec has approved the extension of the government decree for the Dumont project (the "Project"), located in Launay, near Amos, in Abitibi-Témiscamingue. The extension is a positive milestone that enables the Project to continue its advancement toward a final investment decision.

"The extension of the government decree is an important milestone for the Dumont Project, reinforcing the regulatory certainty needed to advance the Project to a final investment decision. As we continue discussions with financial partners, strategic investors, and industrial stakeholders, this decision sends a clear signal that the Project is progressing in a structured, responsible, and predictable manner. We thank the Government of Quebec, and all regional partners and stakeholders, for their continued support in moving this Project toward realization," said Johnna Muinonen, President of Dumont Nickel.

An Extended Authorization Within a Rigorous and Updated Framework

Since receiving its original authorization in 2015, and following the 2023 amendment of that authorization to reflect an optimized project design, Dumont Nickel has continued to reduce its environmental footprint while incorporating regulatory changes, evolving industry best practices, and feedback received through ongoing engagement with stakeholders. As part of the extension process, the Company updated its environmental assessment to reflect the current Project design, regulatory requirements introduced since 2015, and today's expectations for responsible resource development.

The extension of the decree was granted following a rigorous review started in 2024 conducted in collaboration with the relevant government authorities. The process also included continued engagement with local stakeholders and with the Abitibiwinni First Nation, with which the Company maintains an Impact and Benefit Agreement originally signed in 2017.

An Innovative Approach to Environmental Compensation

Beyond regulatory compliance, Dumont Nickel intends to transform environmental compensation into a catalyst for regional value creation. The Company has proposed that compensation measures related to wetlands and water bodies generate lasting benefits for Abitibi-Témiscamingue through the restoration of degraded ecosystems, rehabilitation of abandoned mine sites, modernization of aging water infrastructure, and support for applied research led by regional expertise.

"The decree extension confirms that Dumont is advancing toward construction. Our objective is unchanged: to develop one of the world's largest undeveloped nickel sulphide deposits, here in Abitibi-Témiscamingue, with the engineering, financing and partnership work under way. Dumont is a strategic asset for Canada's critical minerals sovereignty, and a lasting engine of social, economic and environmental value for the communities, the region, the province and the country," concluded François Vézina, Chief Operating Officer of Dumont Nickel.

About Dumont Nickel LP

The Dumont Nickel project, located in Launay, near Amos, in Abitibi-Témiscamingue, is one of Canada's major advanced nickel-cobalt projects. Rooted in the region for several decades, it aims to contribute to regional economic development, the critical minerals sector and strategic supply chains related to the energy transition, advanced technologies, defense and mineral sovereignty.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding the term and conditions of government decree, the Company's advancement toward a final investment and the start of construction, the receipt of the remaning authorizations required for the Project and the nature and effect of the proposed environmental compensation measures. These statements reflect management's current expectations and assumptions, including the availability of project financing on acceptable terms, the timely receipt and maintenance of required permits and authorizations, continued engagement with indigenous and local communities. Actual results may differ materially due to a variety of risks and uncertainties, including changes in nickel and cobalt prices, cost escalation, financing, permitting or construction delays, changes in government policy or support programs, and general economic and market conditions. Dumont Nickel LP does not undertake to update any forward-looking statements contained in this press release except as required by applicable law.

SOURCE Dumont Nickel