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, July 21, 2016 /CNW Telbec/ - Sentient Executive GP IV, Limited ("Sentient IV") announces that it has acquired control over 52,145,466 Units of North American Nickel Inc. ("NAN") at a price of $0.075 per Unit. The Units were acquired pursuant to a previously announced prospectus offering 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 July 21, 2018. As such, Sentient IV acquired control over 52,145,466 NAN Shares and 26,072,733 NAN Warrants that, together with 952,380 NAN Shares issued to Sentient IV on April 22, 2016, represent approximately 24.2% of the outstanding NAN Shares, calculated on a partially diluted basis assuming the full exercise of the 26,072,733 NAN Warrants held by Sentient IV only.

Prior to the acquisition of the Units, Sentient IV had control over 103,666,596 NAN Shares (representing approximately 49.7% of the outstanding NAN Shares) and the right to acquire 10,471,465 NAN Shares through 10,471,465 common share purchase warrants issued by NAN. In the event all of the 10,471,465 common share purchase warrants issued by NAN are fully exercised, Sentient IV would acquire control over a maximum of 114,138,061 NAN Shares. These combined holdings would represent approximately 52.1% of the outstanding NAN Shares, calculated on a partially diluted basis assuming the full exercise of the 10,471,465 common share purchase warrants issued by NAN held by Sentient IV only.

Immediately after the acquisition of the Units, Sentient IV has control over 155,812,062 NAN Shares (representing approximately 51.7% of the outstanding NAN Shares) and the right to acquire 36,544,198 NAN Shares through 36,544,198 common share purchase warrants issued by NAN. In the event all of the 36,544,198 common share purchase warrants issued by NAN are fully exercised, Sentient IV would acquire control over a maximum of 192,356,260 NAN Shares. These combined holdings would represent approximately 58.8% of the outstanding NAN Shares, calculated on a partially diluted basis assuming the full exercise of the 36,544,198 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.

SOURCE Sentient Executive GP IV, Limited

For further information or to obtain a copy of the Early Warning Report filed by Sentient IV, please contact Sue Bjuro at [phone].