Nickel North Exploration Corp.
TSX VENTURE : NNX

Nickel North Exploration Corp.

August 28, 2014 09:00 ET

Nickel North Announces Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 28, 2014) - Nickel North Exploration Corp. (TSX VENTURE:NNX) (the "Company" or "Nickel North") announces that, subject to regulatory approval, the Company intends to complete a private placement (the "Offering") of an unsecured convertible debenture (the "Debenture") in the principal amount of a minimum of $1,000,000 and a maximum of $1,500,000 with Sinotech (Hong Kong) Corporation Limited ("Sinotech"). The principal amount of the Debenture will mature twelve months after issuance (the "Maturity Date") and accrue interest at 8% per annum payable on the Maturity Date.

At any time after the date that is six months after issuance of the Debenture, the Company may convert all or any part of the principal amount outstanding under the Debenture into common shares in the capital of the Company (each, a "Share") at a conversion price of $0.10 per Share and any accrued but unpaid interest thereon at the greater of $0.10 per Share and the Market Price (as defined in the policies of the TSX Venture Exchange) at the time of conversion.

The proceeds of the Offering are expected to be used by the Company for the exploration program on the Company's Hawk Ridge Project.

Sinotech is a wholly-owned subsidiary of Sinotech Minerals Exploration Co., Ltd. ("Sinotech Minerals Exploration"). Sinotech Minerals Exploration is a majority owner of Beijing Donia Resources Co., Ltd., which wholly-owns Goldrock Resources Corporation Limited ("Goldrock"). Goldrock is a majority owner of Sino Minerals Corp. Goldrock and Sinotech, together, own 23,271,860 common shares of the Company, representing approximately 35.4% of the issued and outstanding common shares of the Company. In addition, Goldrock, Sinotech and Sino Minerals Corp., together, own common share purchase warrants to purchase up to 10,375,000 common shares of the Company.

About Nickel North Exploration Corp.

Nickel North Exploration is a Canadian-based explorer focused on defining a Ni-Cu-PGE resource at our Hawk Ridge Project in Northern Quebec. The board of directors, advisor committee and management team are experienced, successful mine finders. The property consists of a 50 km long belt of magmatic Ni-Cu-PGE occurrences covering over 30,658 hectares. The project is located near tidewater. Quebec is a mining friendly jurisdiction. Nickel North Exploration is a conscientious corporate citizen, maintains good relations with Communities and Aboriginal people, and is committed to sustainable development. For more information on the company, please visit www.nickelnorthexploration.com.

On behalf of Nickel North Exploration Corp.

Andrew Lee Smith, Interim President and CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer for Forward-Looking Statements

All statements, other than statements of historical fact, included herein are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect", "likely" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. Forward-looking statements in this news release include statements regarding the Company's intention to complete the Offering and the expected use of proceeds from the Offering. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from the Company's expectations include fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and native groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; and uncertainty as to timely availability of permits and other governmental approvals. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.

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