Pure Nickel Inc.

Pure Nickel Inc.

February 01, 2007 18:48 ET

Pure Nickel Inc. Commences its Fox River 2007 Exploration Program

TORONTO, ONTARIO--(CCNMatthews - Feb. 1, 2007) - Pure Nickel Inc. ("Pure Nickel") is pleased to announce the commencement of its first phase of its 2007 exploration program on the Fox River belt in Northern Manitoba.

Pure Nickel has contracted Geotech Ltd. of Aurora, Ontario to carry out an extensive targeted high resolution VTEM airborne electromagnetic survey of approximately 2600 line-km over six blocks. These blocks have been prioritized on the basis of previous drilling, a lower-resolution airborne survey conducted in 1999 by Falconbridge (which was acquired by Xstrata plc in 2006) and recently acquired soil geochemical samples from a Pure Nickel survey conducted in late 2006.

The newest generation of VTEM systems can detect conductive anomalies to depths in excess of 200 meters, and have sufficient resolution that in many cases diamond drill targets can be finalized using only the airborne survey data, saving the time and cost entailed by a ground geophysical survey.

The VTEM system to be used on the Fox River project is also equipped with Geotech's new B-field sensor, which significantly improves detection of highly conductive anomalies that are of key interest in nickel sulfide exploration.

Airborne electromagnetic survey by helicopter has commenced and should be completed within two weeks, weather permitting. The exploration crew will be based in Pure Nickel's newly constructed Yakaw Lake drill camp in Manitoba.

Following geophysical analysis, the Company intends to embark on an aggressive drilling program on its high priority targets. Jay Jaski, Chairman of Pure Nickel said this of the Company, "This is an extraordinary time in the life of Pure Nickel. We are about to embark on an aggressive $8.0mm exploration program for 2007 on all our drill ready properties. We thank our institutional and individual investors for their continued support and we look forward to an exciting year."

Pure Nickel is the operator of the exploration program at Fox River and has an option to acquire a 50% undivided interest in the Fox River Property with Xstrata Nickel. Pure Nickel is uniquely equipped to manage the exploration program augmented with Xstrata Nickel's support and highly qualified technical team.

About Pure Nickel:

Pure Nickel is a private Canadian company engaged in the exploration and development of advanced nickel sulphide exploration projects primarily in Canada.

On October 16, 2006, Pure Nickel announced it entered into a transaction to allow Nevada Star Resource Corp. ("Nevada Star") (OTCBB:NVSRF) and (TSX VENTURE:NEV) to acquire 100% of Pure Nickel's shares. This transaction, which has been negotiated at arm's length, will constitute a reverse takeover ("RTO") of Nevada Star by Pure Nickel pursuant to TSX Venture Exchange policies.

Contact Information

  • PURE NICKEL INC.
    J. Jay Jaski
    Chairman
    (416) 644-0001
    (416) 644-0069 (FAX)
    Website: www.purenickel.com