First Nickel Files Technical Report
TORONTO, ONTARIO -- (Marketwire) -- 11/05/10 -- NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES NEWSWIRE SERVICES
First Nickel Inc. ('First Nickel' or the 'Company') (TSX: FNI) announces that it has re-filed a technical report on the Lockerby Mine project entitled 'Technical Report on the Depth Zone of the Lockerby Deposit - Lockerby Mine, Sudbury Area, Ontario' dated November 2, 2010 prepared by Marc Lavigne, Jacques Gauthier and Luc Bourguignon of GENIVAR Limited Partnership ('GENIVAR') and Phil Vicker, the Company's Sudbury geology manager, (the '2010 Technical Report') on SEDAR at www.sedar.com. The Company filed the 2010 Technical Report to combine and reflect, within a single report, (i) the technical report prepared by Marc Lavigne, Jacques Gauthier and Luc Bourguignon of GENIVAR entitled 'Technical Report and Feasibility Study on the Depth Zone of the Lockerby Deposit' dated April 10, 2009 and filed on SEDAR on April 13, 2009, (ii) the technical report prepared by Phil Vicker, entitled 'Technical Report on the 2009 Resource Estimate for the Depth, East and Upper West Zones Lockerby Mine, Sudbury, Ontario' dated February 23, 2009 and filed on SEDAR on April 9, 2009 and (iii) the update to GENIVAR's economic analysis to take into account an update of the metal prices, the exchange rate, and the escalation factors in the Company's offtake agreement with Xstrata Nickel, a business unit of Xstrata Canada Corporation, together with the addition of Au/Pt/Pd/Ag net smelter returns.
About First Nickel
First Nickel is a Canadian mining and exploration company. Its current activities are primarily focused on the Sudbury Basin in northern Ontario, the location of the Company's redevelopment stage property (the Lockerby Mine) and two of its exploration properties. First Nickel also has exploration properties in the Timmins region of northern Ontario and the Belmont region of Eastern Ontario. First Nickel's shares are traded on the TSX under the symbol FNI.
Contacts:
First Nickel Inc.
William Anderson
President & CEO
(416) 362-7050
(416) 362-9050 (FAX)
wanderson@firstnickel.com