	PNRC common share						Company common share
	Number			Amount			Number		Amount
December 31, 2020		64,083,487		$	1,468,174			-		-
Share capital issued through private placement (net of issue costs)		12,596,421			6,484,501			-		-
December 31, 2021		76,679,908			7,952,675			-		-
Share capital issued through private placement (net of issue costs)		8,936,167			20,852,872			-		-
Cancel PNRC shares held by NAN		(7,667,707	)		-			-		(19,710,608	)
Shares exchanged on the RTO		(77,948,368	)		(28,805,547	)		82,157,536		28,805,547
Share capital of the Company immediately post RTO		-			-			31,748,399		77,431,152
Shares issued for exercised warrants								1,236,408		2,890,913
Shares issued for exercised options								1,379,000		1,727,264
Balance as at December 31, 2022		-		$	-			116,521,343	$	91,144,268

Warrant activity, after converting for the Exchange Ratio, for the year ended December 31, 2022 was as follows:

Premium Nickel Resources Ltd.	Number Outstanding (Post-consolidation basis)			Weighted Average Exercise Price ($)
December 31, 2021		-			-
Adjustment pursuant to the
RTO		2,228,340			1.11
Issued		119,229			2.04
Exercised		(1,236,408	)		0.46
Cancelled / expired		(12,375	)		-
Balance as at December 31, 2022		1,098,786			1.96

The outstanding options of each company prior to the completion of the RTO were as follows:

North American Nickel	Number Outstanding (post-consolidation basis)			Weighted Average Exercise Price ($)
December 31, 2021		3,010,919			1.35
Cancelled/expired		(15,125	)		6.00
Balance as at August 3, 2022 prior to business combination with PNRC		2,995,794			1.33

Premium Nickel Resources Corp.	Number Outstanding	Weighted Average Exercise Price ($)
December 31, 2021	5,775,000	0.52
Granted	2,600,000	2.49
Balance as at August 3, 2022 prior to business combination with NAN	8,375,000	1.13

Subsequent to the RTO, the outstanding options of the Company were as follows:

Premium Nickel Resources Ltd.	Number Outstanding			Weighted Average Exercise Price ($)
Balance as at August 3, 2022 prior to business combination with PNRC		2,995,794			1.33
Issued pursuant to RTO in exchange for options of PNRC		8,827,250			1.16
Options exercised		(1,416,000	)		0.46
Balance as at December 31, 2022		10,407,044			1.10

During the year ended December 31, 2022, DSUs have been granted as follows:

	2022
Number of DSUs outstanding at the beginning of the fiscal year		-
Number of DSUs during the year		200,000
Number of DSUs outstanding at the end of the year		200,000