First Nickel Names Alfred Colas as Chief Financial Officer

TORONTO, ONTARIO--(Marketwired - Oct. 3, 2013) - First Nickel ("First Nickel, "FNI" or the "Company") (TSX:FNI) announces that Alfred Colas has joined the Company as Vice President and Chief Financial Officer. Mr. Colas is a finance business executive with over 20 years of international experience in corporate and public accounting and finance management, focused on the mining sector since 1997. Mr. Colas was most recently Corporate Controller of Rainy River Resources Ltd., a TSX-listed junior gold mining company and prior to that held several positions in finance at Barrick Gold Corp., listed on the NYSE and TSX. Mr. Colas obtained a BComm from the University of Toronto and holds a CPA and CA, having begun his career as an auditor with PwC.

Steven Cresswell stepped down as Chief Financial Officer as of October 2, 2013.

Thomas M. Boehlert, President and Chief Executive Officer of FNI said, "I am very pleased that Alfred has joining us. He is a quality executive who's broad accounting and finance experience in the mining industry is a great addition to the team as we endeavour to grow the Company. I would also like to thank Steve for his dedication to FNI over the past two years."

About FNI

FNI 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 operates its Lockerby Mine in the Sudbury Basin in northern Ontario. The Lockerby Mine is expected to produce at a rate of approximately 10 million pounds of payable nickel and approximately 7 million pounds of payable copper annually, providing a strong base from which to grow the Company. In addition to the Lockerby Mine, the Company owns exploration properties in the Sudbury Basin, the Timmins region of northern Ontario, and the Belmont region of Eastern Ontario. FNI's shares are traded on the TSX under the symbol FNI.

Forward-Looking Statements

Certain statements contained in this news release may contain forward-looking information about FNI. Forward-looking information can often be identified by the use of forward-looking terminology such as "anticipate", "believe", "continue", "estimate", "expect", "goal", "intend", "is confident", "target", "potential", "objective", "may", "plan" or "will" or the negative thereof or variations thereon or similar terminology. Forward-looking information may include, but is not limited to: the continued operation of the Lockerby Mine; future financial or operating performance of the Company and its projects; the future price of metals; the long term supply and demand for nickel; continuation of exploration activities; mineral reserve and mineral resource estimates; the realization of mineral resource estimates; costs of production and key supplies; capital, operating and exploration expenditures; forecasts of sales and production; costs and timing of the development of new and existing deposits; costs and timing of future exploration; the requirements for additional capital; government regulation of mining operations; environmental risks, reclamation expenses and/or title disputes or claims.

By its nature, forward-looking information is based on certain factors and assumptions which involve known and unknown risks, uncertainties and other factors which may cause the actual results, realization of mineral resources, performance or achievements of the Company, financial position or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Accordingly, actual events may differ materially from those implied by any forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information, which speak only as of the date the statements were made and readers are also advised to consider such forward-looking information while considering the risk factors set forth 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 www.sedar.com. Such forward-looking statements are made as at the date of this news release. The Company disclaims any intention or obligation to publicly update or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.