International Nickel Ventures Corporation
TSX : NVC

International Nickel Ventures Corporation

April 04, 2006 07:00 ET

International Nickel Ventures Corporation Announces Exercise of Over-Allotment Option to Increase Offering to $25.3 Million

TORONTO, ONTARIO--(CCNMatthews - April 4, 2006) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

International Nickel Ventures Corporation ("INV") (TSX:NVC) announces that the underwriters of its Initial Public Offering ("IPO") have exercised their over-allotment option to acquire an additional 2,620,000 common shares of INV at a price of $1.20 per share. The closing relating to the exercise of the over-allotment option is expected to take place on or about April 6, 2006.

The underwriting syndicate is co-led by CIBC World Markets Inc. and Dundee Securities Corporation, and includes GMP Securities L.P.

The net proceeds from the IPO of $25.3 million (including proceeds from the exercise of the over-allotment option) will be used to complete INV's share of the approved 2006 programs on the Santa Fe and Ipora Properties as well as on INV's 100%-owned Goias Region and Para State Properties. It will also be used to fund regional exploration and prospecting activities, the acquisition of additional mineral properties and for general working capital purposes.

Following the issuance of the shares pursuant to the over-allotment option, INV will have 34,452,300 shares issued and outstanding. INV's common shares are listed on the Toronto Stock Exchange under the symbol NVC.

The final prospectus for the IPO is available on the SEDAR website at www.sedar.com. For further technical information concerning INV's properties, please refer to the company's technical report, which is also available on the SEDAR website.

About INV

INV is a Canadian mineral resource company focused on the acquisition, exploration and development of nickel projects in Brazil. Its primary asset is an option to acquire, with partner and operator Teck Cominco Limited, a 75% interest in two advanced-stage nickel laterite deposits, the Santa Fe and the Ipora, in the Goias nickel camp of Brazil. In addition, INV has 100% ownership in an extensive land package of prospective nickel properties in Goias and Para States.

The securities referenced by this news release have not been registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States without registration or applicable exemption from registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy common shares of INV in any jurisdiction.

Forward-Looking Statements

Certain information included in this press release, including information relating to future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute "forward-looking statements." Such forward-looking statements include, without limitation, (i) the timing and amount of estimated future capital expenditures and requirements for additional capital; (ii) estimates of mineral resources and realization of mineral resource estimates, and (iii) the timing and amount of estimated future commercial operations. Where INV expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to actual results of exploration activities, conclusions of economic evaluations, changes in project parameters, variances in ore grade or recovery rates from those assumed in mining plans, ore processing, metals price volatility, currency fluctuations in Canadian and United States dollars relative to each other and to the Brazilian real, the ability to successfully integrate acquired assets, political, operational and environmental risks inherent in mining or development activities, changes in labour costs, labour disputes, and legislative factors relating to prices, taxes, royalties, land use, title and permits, importing and exporting of minerals. For a more detailed discussion of such risks and other factors, refer to INV's prospectus and filings with Canadian securities regulators available on www.sedar.com. Accordingly, readers should not place undue reliance on forward-looking statements. INV does not undertake any obligation to release publicly revisions to any "forward-looking statement," to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

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