First Nickel Inc.

First Nickel Inc.

April 30, 2008 08:00 ET

First Nickel Market Update Announcement

TORONTO, ONTARIO--(Marketwire - April 30, 2008) - First Nickel Inc. ("First Nickel" or the "Company") (TSX:FNI) today announced that production in the first quarter of 2008 was the second highest in the Company's history.

During the first quarter approximately 930,000 lbs of payable nickel and 610,000 lbs of payable copper were produced from our Lockerby Operation.

President and CEO William Anderson states: "We are pleased production is back on track and we look forward to continued improvement through 2008."

First Nickel will be releasing full first quarter operational and financial information the week of May the 12th.

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 producing property (the Lockerby Mine) and four of its exploration properties. First Nickel also has two exploration properties in the Timmins region of northern Ontario. First Nickel's shares are traded on the TSX under the symbol FNI.

This news release contains forward-looking statements, which are subject to certain risks, uncertainties and assumptions, including the cash flows, metal prices, decrease costs, increase output, expected production, and expected exploration expenditures. A number of factors could cause actual results to differ materially from the results discussed in such statements, and there is no assurance that actual results will be consistent with them. Such factors include fluctuating metal prices, 2008 production forecast, lower unit costs and other factors described in the Company's most recent Annual Information Form under the heading "Risk Factors" which has been filed electronically by means of the System for Electronic Document Analysis and Retrieval ("SEDAR") located at Such forward-looking statements are made as at the date of this news release, and the company assumes no obligation to update or revise them, either publicly or otherwise, to reflect new events, information or circumstances, except as may be required under applicable securities law.

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