Nickel Silver Belt

Pure Nickel Inc. -- More than Nickels in this Jar!

Pure Nickel Inc. (TSX: NIC, OTCBB: PNKCKF) is not just pure nickel! With nine properties throughout North America led by an outstanding team of top geologists, scientists and managers, this Company is advancing its gold, silver, copper, palladium and nickel exploration projects.

Pure Nickel's 2010 exploration success at the MAN Alaska site exceeded expectations by encountering platinum group element (PGE) enriched horizons on the Alpha complex. Pure Nickel's partner on the MAN Project, ITOCHU, confirmed its confidence in the project and has committed to funding this year's exploration budget of US $4.8 million. ITOCHU, a large Japanese conglomerate, has the option to earn up to 75% interest in property by expending $40 million in development over seven years. To date ITOCHU has earned a 30% interest in the property. Drilling at the MAN project has commenced, initial exploration targets include the PGE enriched horizons on the Alpha Complex followed by several targets in the Northern region of the property. At the same time, Pure Nickel has added bold moves on another Alaskan PGE project.

The 100% owned Salt Chuck project sits on the Prince of Wales Island in the Alaskan panhandle. It was a former producing mine of copper, silver, gold, platinum and palladium which carried the title of the USA's largest palladium producing mine in the US for three years between 1941-1944. The property is com-prised of 146 Federal claims occupying an area of 1,082 hectares. Pure Nickel's goal for this promising project is to replicate previous results under NI 43-101 standards and expand its understanding of the the existing pit and tunnels. Given the the current climate and buoyant PGE forecasts, the Company is ready to tackle this exciting project.

Pure Nickel's six other projects add even more depth to its portfolio of assets. William Lake in Manitoba is located in the Thompson Nickel Belt, one of the richest nickel belts in the world. Fond Du Lac in Saskatchewan is previously an unrecognizable setting for a world-class nickel camp. Rainbow Nunavut is located 350 km SW of Baker Lane; 23 mining claims covering 20,000 ha. In Quebec, the Raglan (Nuvilik) property is in the central part of the Cape Smith Belt approximately 80 km SW of the Raglan Mine complex. Manibridge, Manitoba, is a past producing mine and is currently part of a joint venture with Crowflight Minerals Inc. The Tower Property is under option with Rockcliff Resources. Results from fall/winter program of 24 holes (7,500 m) have been excellent and consistently returned high grade copper values. Future drilling will target along strike and to a vertical depth of 600 m. 

What will not be overlooked for long is the apparent disconnect in the market's valuation attached to Pure Nickel. This month it settled a dispute over its Utah Milford project adding will add $3.5 million in cash over twelve months against the current  market cap of approximately $11M. Do the math and this means all these advancing projects are valued at only ~$4.0M (Q2: $2.5M in cash/liquid investments), which is a gross understatement. With drilling planned to commence at Salt Chuck in the fall of 2011 Pure Nickel is adding Cu, Ag, Au, Pt and Pd to the Pure Nickel jar and all eyes will be on this Company to see them reap their rewards.

For further information please contact Cathy Hume, CEO, CHF Investor Relations,  T 416-868-1079 x231, cathy@chfir.com or visit www.purenickel.com.

 

About the Author

CHF Investor Relations is a full-service, outsourced investor relations consultant company serving emerging to mid-cap public companies trading on North American exchanges. We write an eNewsletter that is sent to about 15,000 brokers in Canada monthly that highlights up to four CHF clients per issue.

More information on any company featured can be accessed by contacting CHF at +1.416.868.1079 or email Director of Communications, Julia Clark, at julia@chfir.com.

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