First Nickel Provides Update on Lockerby Accident

TORONTO, ONTARIO--(Marketwired - May 6, 2014) - First Nickel Inc. ("FNI" or the "Company") (TSX:FNI) provides a statement from Thomas M. Boehlert, President and CEO of First Nickel Inc. on the accident at the Lockerby Mine earlier today. The content of his statement is provided below in both English and French.

"We regret to report that an accident has occurred in the underground operations at the Lockerby Mine here in Sudbury that has claimed the lives of two drillers, both working for Taurus Drilling Services. Taurus has been active with our company for several years.

These two men were Marc Methe and Norm Bissaillon age 34 and 49 respectively. Norm was a dedicated and experienced underground miner with over 20 years of experience - a good man and a family man who loved to talk about his children of who he was so proud. Marc had been with Taurus for about 4 years and was committed and enthusiastic about the trade. He was always positive and meticulous about everything he did. These individuals will be sorely missed by all of us at First Nickel and Taurus.

The event, a fall of material, was preceded by seismic activity which is believed to have been a factor in the accident. Rescue teams were immediately dispatched and worked tirelessly to reach the men. All underground activities, except emergency requirements, were immediately suspended and authorities were notified.

The Coroner arrived on site and pronounced both men deceased.

Senior operations management are working with government authorities to thoroughly investigate the accident.

The Company is also working closely with Taurus Drilling to ensure that the miners' families receive counseling support. Counseling has also been and will continue to be provided for all employees and workers on site.

We are profoundly saddened by this tragic accident that resulted in the deaths of two men and we extend our deepest condolences to their families, friends and colleagues. Safety is the top priority for the Company and we take it very seriously. We are committed to a full and thorough investigation."

Thomas M. Boehlert, FNI's President and CEO.