Victory Nickel Receives Key Approval at Lac Rocher
Tuesday April 8, 10:06 am ET
Certificate of Exemption a major step toward Phase I extraction starting in 2008
TORONTO, ONTARIO--(Marketwire - April 8, 2008) - Victory Nickel Inc. ("Victory Nickel" or the "Company")(TSX:NI - News; www.victorynickel.ca) today announced the receipt of the Certificate of Exemption ("C of E") for its Lac Rocher property from the Quebec Ministry of Sustainable Development, Environment and Parks. The C of E is a key approval that exempts the Company from the environmental and social impact assessment process prior to beginning the Phase I underground exploration and bulk sampling program.
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The C of E is the essential approval which will enable Victory Nickel to expedite development at Lac Rocher in order to begin mineral extraction in 2008. The C of E relates to:
- Bulk sampling of 65,000 tonnes of ore; and,
- Construction of an access portal and ramp, an ore stockpile, an acid-generating waste rock pile, a non-acid-generating waste rock pile, a mine water collection basin, petroleum products tanks, a garage, and any other infrastructure required to support mining activities and for the well-being of workers on the mine site.
"The C of E is a key milestone in the development of Lac Rocher as it significantly shortens the time to development and production," said David Mchaina, Vice-President, Environment and Sustainable Development. "The next steps are obtaining a Certificate of Authorization and a mining permit for Phase I; our goal remains to begin extracting 65,000 tonnes of ore prior to the end of 2008."
Victory Nickel intends to develop Lac Rocher in two phases. In Phase I, the Company expects to extract approximately 65,000 tonnes of material. In Phase II an additional 400,000 tonnes of material is targeted for extraction. The existing mineral resource is relatively shallow, located between surface and 125 vertical metres, allowing the Company to access this mineralization by developing a ramp and direct shipping the extracted material offsite for processing.
About Victory Nickel
Victory Nickel Inc. is a Canadian company with over 660,000,000 pounds of in-situ nickel in National Instrument 43-101-compliant measured (154,000,000 pounds) and indicated (511,000,000 pounds) resources in three sulphide nickel projects: Minago and Mel on Manitoba's Thompson nickel belt, and the high-grade Lac Rocher deposit in northwestern Quebec, and an additional 530 million pounds of in-situ nickel in inferred resources. Created from the nickel assets of Nuinsco Resources Limited (TSX:NWI - News), Victory Nickel is well financed and focused on becoming a substantial nickel producer by developing its existing properties and evaluating opportunities to expand its nickel asset base.
FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements." All statements, other than statements of historical fact, that address activities, events or developments that Victory Nickel believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek," "anticipate," "believe," "plan," "estimate," "expect," and "intend" and statements that an event or result "may," "will," "can," "should," "could," or "might" occur or be achieved and other similar expressions. These forward-looking statements reflect the current expectations or beliefs of Victory Nickel based on information currently available to Victory Nickel. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of Victory Nickel to differ materially from those discussed in the forward-looking statements, 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 Victory Nickel. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to successfully complete financings, capital and other costs varying significantly from estimates, production rates varying from estimates, changes in world copper, nickel and/or gold markets, changes in equity markets, uncertainties relating to the availability and costs of financing needed in the future, equipment failure, unexpected geological conditions, imprecision in resource estimates, success of future development initiatives, competition, operating performance of facilities, environmental and safety risks, delays in obtaining or failure to obtain necessary permits and approvals from government authorities, and other development and operating risks. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Victory Nickel disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although Victory Nickel believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
Contact:
Rene Galipeau
Victory Nickel Inc.
(416) 626-0470
Sean Stokes
Victory Nickel Inc.
(416) 626-0470
Email: admin@victorynickel.ca
Website: www.victorynickel.ca,
Tuesday April 8, 10:06 am ET
Certificate of Exemption a major step toward Phase I extraction starting in 2008
TORONTO, ONTARIO--(Marketwire - April 8, 2008) - Victory Nickel Inc. ("Victory Nickel" or the "Company")(TSX:NI - News; www.victorynickel.ca) today announced the receipt of the Certificate of Exemption ("C of E") for its Lac Rocher property from the Quebec Ministry of Sustainable Development, Environment and Parks. The C of E is a key approval that exempts the Company from the environmental and social impact assessment process prior to beginning the Phase I underground exploration and bulk sampling program.
ADVERTISEMENT
The C of E is the essential approval which will enable Victory Nickel to expedite development at Lac Rocher in order to begin mineral extraction in 2008. The C of E relates to:
- Bulk sampling of 65,000 tonnes of ore; and,
- Construction of an access portal and ramp, an ore stockpile, an acid-generating waste rock pile, a non-acid-generating waste rock pile, a mine water collection basin, petroleum products tanks, a garage, and any other infrastructure required to support mining activities and for the well-being of workers on the mine site.
"The C of E is a key milestone in the development of Lac Rocher as it significantly shortens the time to development and production," said David Mchaina, Vice-President, Environment and Sustainable Development. "The next steps are obtaining a Certificate of Authorization and a mining permit for Phase I; our goal remains to begin extracting 65,000 tonnes of ore prior to the end of 2008."
Victory Nickel intends to develop Lac Rocher in two phases. In Phase I, the Company expects to extract approximately 65,000 tonnes of material. In Phase II an additional 400,000 tonnes of material is targeted for extraction. The existing mineral resource is relatively shallow, located between surface and 125 vertical metres, allowing the Company to access this mineralization by developing a ramp and direct shipping the extracted material offsite for processing.
About Victory Nickel
Victory Nickel Inc. is a Canadian company with over 660,000,000 pounds of in-situ nickel in National Instrument 43-101-compliant measured (154,000,000 pounds) and indicated (511,000,000 pounds) resources in three sulphide nickel projects: Minago and Mel on Manitoba's Thompson nickel belt, and the high-grade Lac Rocher deposit in northwestern Quebec, and an additional 530 million pounds of in-situ nickel in inferred resources. Created from the nickel assets of Nuinsco Resources Limited (TSX:NWI - News), Victory Nickel is well financed and focused on becoming a substantial nickel producer by developing its existing properties and evaluating opportunities to expand its nickel asset base.
FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements." All statements, other than statements of historical fact, that address activities, events or developments that Victory Nickel believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek," "anticipate," "believe," "plan," "estimate," "expect," and "intend" and statements that an event or result "may," "will," "can," "should," "could," or "might" occur or be achieved and other similar expressions. These forward-looking statements reflect the current expectations or beliefs of Victory Nickel based on information currently available to Victory Nickel. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of Victory Nickel to differ materially from those discussed in the forward-looking statements, 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 Victory Nickel. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to successfully complete financings, capital and other costs varying significantly from estimates, production rates varying from estimates, changes in world copper, nickel and/or gold markets, changes in equity markets, uncertainties relating to the availability and costs of financing needed in the future, equipment failure, unexpected geological conditions, imprecision in resource estimates, success of future development initiatives, competition, operating performance of facilities, environmental and safety risks, delays in obtaining or failure to obtain necessary permits and approvals from government authorities, and other development and operating risks. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Victory Nickel disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although Victory Nickel believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
Contact:
Rene Galipeau
Victory Nickel Inc.
(416) 626-0470
Sean Stokes
Victory Nickel Inc.
(416) 626-0470
Email: admin@victorynickel.ca
Website: www.victorynickel.ca,
