Annulment of Arbitral Decisions of J-L Baudouin to Be Sought

MONTREAL, QUEBEC--(Marketwired - Nov. 9, 2016) - Glen Erikson, President of Nearctic Nickel Mines Inc. (the "Company") announces that it and its indirect Quebec subsidiary, Ungava Mineral Exploration Inc., will shortly file a Motion for the Annulment of certain arbitral awards rendered by Jean-Louis Baudouin which had their homologation revoked, as reported in the Company's press release of October 11, 2016. The Motion for Annulment may now be filed since the time for Canadian Royalties Inc. to seek leave to appeal the Judgment revoking the arbitral awards of J-L Baudouin, has expired. The Company intends to file the Motion for Annulment as an attachment to the Material Change Report to be filed pursuant to this press release.

This news release contains forward-looking statements within the meaning of "safe harbour" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors which may cause the Company's results to differ materially from expectations. These include risks relating to market fluctuations, investee performance and other risks. These forward-looking statements speak only as of the date hereof. The Company disclaims any intent or obligation to update these forward-looking statements.