Independent Nickel Corp.
TSX : INI

Independent Nickel Corp.

March 11, 2008 06:00 ET

Independent Nickel Drills 76.5 Metres of 0.65% Nickel

SUDBURY, ONTARIO--(Marketwire - March 11, 2008) - Independent Nickel Corp. (TSX:INI) announced today positive drilling results from its ongoing exploration program on the Company's Lynn Lake Nickel Mine Property in Northern Manitoba.

Hole LLN-024a was drilled as a wedged daughter hole off of hole LLN-024 which intersected 69 metres of 1.01% nickel, 0.38% copper and 0.03% cobalt, as reported in the Company's February 12, 2008 press release. Highlights from drillhole LLN-024a include:

- a drill intersection of 28.4 metres grading 0.78% nickel, 0.32% copper, 0.03% cobalt from 603 meters down hole;

- an additional intersection of 28.0 metres grading 0.70% nickel, 0.31% copper, and 0.02% cobalt from 645.5 meters down hole.

- a wider intersection (containing the above two intersections) of 76.5 metres grading 0.65% nickel, 0.29% copper and 0.02% cobalt from 597 metres down hole.

These intersections occur in a broader intersection of 171 metres of continuous mineralization grading 0.42% nickel, 0.20% copper, and 0.02% cobalt from 514 metres down.

"These results clearly indicate the possibility for adding to, and improving the grade of, the Company's existing mineable reserve of 10.7 million tonnes grading 0.65% nickel and 0.36% copper, as reported in its recently filed National Instrument 43-101 compliant prefeasibility study for the Property," stated Independent Nickel Corp. President and CEO, Richard Murphy.

LLN-024, and the two holes that were wedged off of it, were drilled to test for possible extensions off of the southern portion of the 'N' ore body. A second wedged hole, LLN-024b was drilled from the same parent hole. LLN-024b also encountered similar sulphide mineralization for which assay results are pending.

Drilling at Lynn Lake is ongoing and additional results are expected to be released in the near future.

About Independent Nickel Corp.

Independent Nickel owns 100% of the Lynn Lake Nickel Mine, located in Lynn Lake, Manitoba. The Company also owns a Net Smelter Return Royalty ("NSR") on Victory Nickel Inc.'s Minago Nickel Property, also located in Northern Manitoba. The NSR pays the Company 3% of all mineral product value when nickel prices exceed US$6/lb.

Assay lengths reported in this release are core lengths. Due to the irregular nature of some of the orebodies at Lynn Lake, true mineralized widths will be determined in the context of an updated resource/reserve estimate.

Samples have been analyzed by ALS Chemex in North Vancouver, British Columbia. Assays for nickel, copper, and cobalt are completed on by four acid "near total" digestion and AAS finish. Select samples are analyzed by Sodium Peroxide Fusion, acid dissolution and ICPAES analysis. The Qualified Person responsible for the technical content of this news release is Richard Murphy, P. Geo., President and CEO of Independent Nickel Corp.

The prefeasability study referenced in this press release has been completed by Wardrop Engineering under the direction of Tim Maunula P.Geo. in accordance with Standards of Disclosure for Mineral Projects as defined by National Instrument 43-101 (NI 43-101). Mr. Maunula is the Project Manager for the Lynn Lake pre-feasibility study. In addition, the following qualified persons contributed to the study: Ivan Arriagada, P. Eng., Peter, Broad, P.Eng., Alex Veresezan, P.Eng. and Shahe Naccashian, P.Geo.

This document may contain forward-looking statements relating to Independent Nickel Corp.'s (INI) operations or to the environment in which it operates. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and may be beyond INI's control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth in other public filings. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not be placed on such forward-looking statements. INI disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.

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