Victory Nickel Inc.
TSX : NI

Victory Nickel Inc.

April 04, 2012 13:30 ET

Victory Nickel Drill Program Progressing at Minago Sulphide Nickel Project

Drilling evaluating potential infrastructure sites

TORONTO, ONTARIO--(Marketwire - April 4, 2012) - Victory Nickel Inc. (the "Company") (TSX:NI) (www.victorynickel.ca), today announced that drilling is progressing at its 100%-owned Minago sulphide nickel projects in Manitoba.

A planned 3,500 metre program is testing a number of geological and geophysical targets around the property that were identified in previous work programs as well as areas that are scheduled for Minago mine infrastructure development. In part, the drilling is evaluating the nickel bearing Ospwagan Group/Pipe Formation rocks in the vicinity of the Minago Nose Deposit. Given the widespread nature of nickel mineralization on the Minago Project, and the number of targets identified the possibility of intersecting completely new nickel mineralization is considered good.

Diamond drilling is also being conducted on Mining Lease ML-003, located some five kilometres south of the Minago Nose Deposit. The site is known, from historical work, to be underlain by substantial thicknesses of nickeliferous serpentininte. The drilling is planned to confirm the presence of the nickel mineralization and evaluate the mineralization in comparison with that found elsewhere on the project.

Victory Nickel's Qualified Person under the NI 43-101 guidelines is Paul Jones, Vice-President, Exploration. Mr. Jones has reviewed and approved the contents of this news release.

Corporate

The Company's 2011 Annual Information Form and audited financial statements and management's discussion + analysis were recently filed and are available on www.SEDAR.com and www.victorynickel.ca.

About Victory Nickel

Victory Nickel Inc. is a Canadian company with four sulphide nickel deposits containing significant NI 43-101-compliant nickel resources. Victory Nickel is focused on becoming a mid-tier nickel producer by developing its existing properties, Minago, Mel and Lynn Lake in Manitoba, and Lac Rocher in northwestern Québec, and by evaluating opportunities to expand its nickel asset base. Victory Nickel also owns shares in Prophecy Coal Corp. (TSX VENTURE:PCY), Prophecy Platinum Corp. (TSX VENTURE:NKL), Miocene Metals Limited (TSX VENTURE:MII) and Wallbridge Mining Company Limited (TSX:WM), the third largest landholder in the Sudbury Basin, which in turn owns an interest in Duluth Metals Limited.

Please visit the Company's website at www.victorynickel.ca. Should you wish to receive Company news via email, please email juliet@chfir.com and specify "Victory Nickel" in the subject line.

Forward-Looking Information: This news release contains forward-looking information. All statements, other than statements of historic fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future constitute forward-looking information. This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: uncertainty of estimates of capital and operating costs, production estimates and estimated economic return; the possibility that actual circumstances will differ from estimates and assumptions; uncertainties relating to the availability and costs of financing needed in the future; failure to establish estimated mineral resources; fluctuations in commodity prices and currency exchange rates; inflation; recoveries being less than those indicated by the testwork carried out to date (there can be no assurance that recoveries in small scale laboratory tests will be duplicated in large tests under on-site conditions or during production); changes in equity markets; operating performance of facilities; environmental and safety risks; delays in obtaining or failure to obtain necessary permits and approvals from government authorities; unavailability of plant, equipment or labour; inability to retain key management and personnel; changes to regulations or policies affecting the Company's activities; the uncertainties involved in interpreting geological data; and the other risks disclosed under the heading "Risk Factors" and elsewhere in the Company's annual information form dated March 30, 2012 filed on SEDAR at www.sedar.com. Forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

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