First Nickel Appoints David Comba as New Chairman

TORONTO, ONTARIO--(Marketwire - July 3, 2012) - First Nickel Inc. ("First Nickel", "FNI" or the "Company") (TSX:FNI) is pleased to announce that the board of directors of the Company (the "Board") has appointed Mr. David Comba as Chairman of the Board.

Mr. Comba has served on the Board since May 2004. He has over 30 years of mining experience holding senior executive positions in both senior and junior mining and exploration companies. A director and then a staff member for the Prospectors and Developers Association of Canada ("PDAC"), Mr. Comba lead the lobby effort between PDAC and Canadian Diamond Drilling Association, which resulted in the introduction of 'super' flow-through shares in 2001 and early extensions of this federal/provincial program.

Upon his appointment, Mr. Comba said, "It is an honour to be appointed Chairman of the First Nickel Board of Directors. The Company is advancing towards full production at the Lockerby Mine and continues to seek opportunities in the base metal mining sector. I look forward to working with my fellow directors and the senior management team as we grow FNI."

The Company would like to thank Mr. Thomas Pugsley for serving as Chairman since 2004. Mr. Pugsley will continue to serve as a director.

About First Nickel Inc.

First Nickel is a Canadian mining and exploration company. The Company's mission is to be the most dynamic North American emerging base metal mining company in which to work and invest and to be respected in the communities in which we operate. FNI is in the process of ramping up production at its Lockerby nickel / copper mine in the Sudbury Basin in northern Ontario. Once the Lockerby Mine reaches full production (expected by end of 2012), it is expected to produce at a rate of approximately 10 million pounds of nickel and approximately 7 million pounds of copper annually, providing a strong base of cash flow from which to grow the Company. In addition to the Lockerby nickel mine, the Company owns exploration properties in the Sudbury Basin, 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.