FPX FPX Nickel Corp

In accordance with the requirements of Section 3.1 of National Instrument 62-103, Peter M.D. Bradshaw (the "Purchaser"), of 4725 Rutland Road, West Vancouver, B.C., V7W 1G6, announces that on October 20, 2020, he acquired 7,750,037 common shares of FPX Nickel Corp. ("FPX"), of Suite 620, 1155 West Pender Street, Vancouver, B.C., V6E 2P4, at a deemed price of $0.55 per common share from FPX pursuant to a debt settlement transaction with FPX.

The Purchaser now owns or has control of 30,815,078 shares of FPX, or approximately 17.0% of the current issued and outstanding common shares of FPX, and 17.0% of FPX shares on a fully diluted basis assuming exercise of all of FPX’s outstanding share purchase options. The Purchaser has acquired the common shares for investment purposes, and not for purposes of exercising control or direction over FPX. The Purchaser may acquire further securities of FPX for investment purposes, in the market or privately, from time to time. The securities of the Purchaser set out above are held directly.

FPX trades on the TSX Venture Exchange under the symbol "FPX". A copy of the early warning report filed by the Purchaser in connection with this acquisition is available under the FPX profile on the SEDAR website at www.sedar.com or by contacting the Purchaser at 604-681-8600.

/s/ Peter M.D. Bradshaw

Peter M.D. Bradshaw

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Peter M.D. Bradshaw4725 Rutland RoadWest Vancouver, BCV7W 1G6