Independent Nickel surveyor confirms WSA boundary

2008-05-12 09:10 ET - News Release

Mr. Richard Murphy reports

INDEPENDENT NICKEL CORP. CONFIRMS NEW DISCOVERY SITUATED WITHIN ITS LYNN LAKE NICKEL PROPERTY; NEW DRILLING EXTENDS DISCOVERY ZONE

Independent Nickel Corp. (INI) has completed a land survey confirming INI's interpretation of its shared property boundary with Western Areas NL (TSX: WSA) at Lynn Lake, Man. The results of the legal survey show that all of the mineralization intersected by the four Western Areas drill holes resides within the limits of Independent Nickel's property. The survey was completed by independent Manitoba land surveyors, Balchen and Kulchycki Surveys of Dauphin, Man.

Western Areas is also in receipt of the survey results and has acknowledged that the original four discovery drill hole intersections drilled by Western Areas were collared approximately 38 metres on the Independent Nickel side of the property boundary.

Following up on the four discovery holes, Independent Nickel immediately mobilized a diamond drill to the area and has completed 10 new drill holes to date. Mineralization was encountered in eight holes and has been logged, sampled and sent off for assaying. Assay results are pending. However, highlights of mineralized intersections encountered in these eight new holes are as follows:

• LLN-034 intersected 17 metres of uniformly distributed and heavily disseminated mineralization from 87 metres down hole.

• LLN-035 intersected 12 metres of uniformly distributed and heavily disseminated mineralization from 68 metres down hole.

• LLN-036 intersected 10 metres of uniformly distributed and moderately disseminated mineralization from 77 metres down hole.

• LLN-037 intersected nine metres of uniformly distributed and moderately disseminated mineralization from 57 metres down hole.

• LLN-039 intersected two metres of mineralization which is associated with a geological structure.

• LLN-040 intersected six metres of uniformly distributed and moderately disseminated mineralization from 89 metres down hole. This zone occurs within a 21-metre interval of variably mineralized stringer and disseminated sulphides from 84 metres down hole.

• LLN-041 intersected 11 metres of uniformly distributed and moderately disseminated mineralization from 70 metres down hole. This zone occurs within a 26-metre interval of variably mineralized stringer and disseminated sulphides from 54 metres down hole.

• LLN-043 intersected 49 metres of uniformly distributed and moderately disseminated mineralization from 108 metres down the hole. This zone occurs within a 112-metre interval of variably mineralized stringer and disseminated sulphides from 49 metres down hole.

• LLN-042 intersected weakly disseminated mineralization interpreted as representing the outer fringes of the main zone. LLN-038 was aborted for technical reasons.

To date, the boundary zone mineralization has been drilled over a strike length of approximately 50 metres. Drilling has intersected the zone over a distance of 50 metres down dip. The true thickness of the zone is estimated to average 15 metres. The zone remains open along strike to the east and west, as well as down dip. The most recently completed hole, LLN-043, intersected a very broad zone of mineralization and highlights the potential for continuity of mineralization along strike to the west.

Independent Nickel geologists have now had an opportunity to examine the original four discovery intersections (see news in Stockwatch April 28, 2008) in detail and to provide descriptions of the nature of the mineralization as follows:

• LL015 intersected 18 metres at 1.5 per cent nickel, 0.7 per cent copper and 0.04 per cent cobalt characterized by uniformly distributed and heavily disseminated sulphide in amphibolite.

• LL016 intersected 14 metres at 1.4 per cent nickel, 0.7 per cent copper and 0.03 per cent cobalt characterized by uniformly distributed and heavily disseminated sulphide in amphibolite.

• LL017 intersected 22 metres at 0.7 per centnickel, 0.4 per cent copper and 0.02 per cent cobalt characterized by uniformly distributed and moderately disseminated sulphide in amphibolite.

• LL018 intersected five metres at 1.1 per cent nickel, 0.6 per cent copper and 0.03 per cent cobalt characterized by remobilized and sheared sulphides associated with a structural contact.

Independent Nickel is continuing to drill to test the lateral and depth extent of mineralization and to ascertain the structural controls on the mineralized zone. The company's exploration efforts are now focused on delineating the full extents of mineralization in the discovery area.

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