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Message: Victory Nickel Provides Minago Feasibility Study Update

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Victory Nickel Provides Minago Feasibility Study Update

posted on Nov 19, 09 11:41PM

Nov 19, 2009 16:08 ET

Victory Nickel Provides Minago Feasibility Study Update

On track for completion in 2009

TORONTO, ONTARIO--(Marketwire - Nov. 19, 2009) - Victory Nickel Inc. ("Victory Nickel" or the "Company")(TSX:NI)(www.victorynickel.ca) today announced that the third-party review of the feasibility study on its 100%-owned Minago project in Manitoba is now complete, and the feasibility study is on track for completion in early December.

As previously announced, the Company, in conjunction with Wardrop, a Tetra Tech Company ("Wardrop"), and select third-party consultants conducted a comprehensive review of certain components comprising the Minago feasibility study to ensure that project design and costs reflect current market realities. This review involved the following components:

Geology
Geotechnical and infrastructure
Processing/metallurgy
Mining
Electrical
Financial analysis.

All of these third party reviews have been completed, and Wardrop has incorporated the results and economics that were identified into the feasibility study.

"By undertaking this process we are now comfortable that the study reflects current realities, particularly relating to the following areas: geotechnical, pit optimization, electrical and site layout," said Steve Harapiak, President and Chief Operating Officer. "We remain on schedule to complete the study before the end of 2009."

About Victory Nickel

Victory Nickel Inc. is a Canadian company with four sulphide nickel deposits containing significant 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 approximately 5% of Wallbridge Mining Company Limited (TSX:WM), the third largest landholder in the Sudbury Basin.

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