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INDEPENDENT NICKEL CORP. NEWS RELEASE July 31, 2008
Shareholder Meeting Set for Hunter Dickinson TransactionSudbury, Ontario – July 31, 2008 – Independent Nickel Corp. (“Independent Nickel”) (TSX: INI) announced today that, further to its announcement of a proposed transaction with the Hunter Dickinson group, it has set a meeting date of September 17, 2008 to consider the proposed $14 million financing by a private company in the Hunter Dickinson group. The record date for such meeting has been set as August 18, 2008. An information circular containing additional information regarding the transaction will be mailed to shareholders shortly after the record date. About Independent Nickel Corp. Independent Nickel owns 100% of the Lynn Lake Nickel Mine, located in Lynn Lake, Manitoba. The mine produced 22.2 million tons of ore at an average grade of 1.0% nickel and 0.5% copper between 1953 and 1976. The Company also owns a Net Smelter Return Royalty (“NSR”) on Victory Nickel Inc.’s Minago Nickel Property, also located in Northern Manitoba. The NSR pays the Company 3% of all mineral product value when nickel prices exceed US$6/lb. FOR FURTHER INFORMATION PLEASE CONTACT: Independent Nickel Corp. 957 Cambrian Heights Drive Assay lengths reported in this release are core lengths. Due to the irregular nature of some of the orebodies at Lynn Lake, true mineralized widths cannot be determined at this time. Samples of half core from the drill holes described in this release are prepared and analyzed by ALS Chemex in Vancouver for nickel, copper, cobalt and other elements. Core samples are crushed and pulverized to 90% passing 75 microns then analyzed for nickel by ore grade determination using the ME-OG62 method. The Qualified Person responsible for the technical content of this news release is Richard Murphy, P. Geo., President and CEO of Independent Nickel Corp. This document may contain forward-looking statements relating to Independent Nickel Corp.’s (INI) operations or to the environment in which it operates. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and may be beyond INI’s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth in other public filings. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not be placed on such forward-looking statements. INI disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws. THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE. |
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| INDEPENDENT NICKEL CORP. (Head Office) | 705-521-8444 (Phone) | Site Design by |
| 102-957 Cambrian Heights Drive, Sudbury, Ontario P3C 5M6 | 705-521-1845 (Fax) | Trev's Webs |
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