Newspaper article from our research archive:

First Nickel Announces the Results of the Ni 43-101 Reserve Estimate and Mine Plan Prefeasibility Study Completed on Lockerby Depth Zone ; - Probable Mineral Reserves of 1.84 million tonnes grading 1.69% Ni, 1.16% Cu and 0.06% Co - Estimated Net Cash Flow of $78.20 million over project life - 69.3% Internal Rate of Return ("IRR") - Net Present Value ("NPV") of $47 million at a 10% discount rate

TORONTO, ONTARIO--(Marketwire - July 3, 2008) - First Nickel Inc. ("First Nickel" or the "Company") (TSX:FNI) is pleased to announce that it has received the final report of the Prefeasibility Study ("Study") on the development and mining of the Lockerby Depth from Genivar Limited Partnership ("Genivar"), a consulting engineering firm based in Quebec City, Quebec.

First Nickel will hold an investor update conference call to discuss the mine plan and pre-feasibility study on the Lockerby Depth Zone today at 10:30 ET.

The Study indicates that the project has an IRR of 69.3% and would generate an undiscounted pre-tax cash flow of $78.20 million after capital recovery assuming average metal ...

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