Homologation of Arbitral Decisions of J-L Baudouin Ordered Revoked

MONTREAL, QUEBEC--(Marketwired - Oct. 11, 2016) - Glen Erikson, President of Nearctic Nickel Mines Inc. (the "Company") is very pleased to announce that it and its indirect Quebec subsidiary, Ungava Mineral Exploration Inc., have received a Judgment of the Quebec Superior Court in which the Motion in Revocation of Judgment, announced in the Company's press release dated September 9, 2015, was successful. As a result the arbitral Decisions of J-L Baudouin, dated August 27, 2014 and September 24, 2014 will either be re-homologated or annulled at a future hearing. The Company will file the Amended Motion in Revocation of Judgment and the Judgment of the Honourable Mr. Justice M. Pinsonnault as annexes to the Material Change Report to be filed in connection with this press release.

Issued and Outstanding

28,263,276 Common Shares

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.