Pure Nickel Inc.

COMPANY DATA | INTRODUCTION |  PROJECT IN HAND | MANAGEMENT
NEWS UPDATE  | CHINESE

COMPANY DATA

INTRODUCTION

Pure Nickel Inc. is one of North America's largest nickel exploration companies. It has a premium portfolio of later stage exploration and development projects.

Operating in North America's highest caliber geological environments for nickel exploration Pure Nickel has committed to an aggressive 2007 multi-million dollar exploration program including drilling on its three principal projects: Fond du Lac Project (Saskatchewan); the Fox River Project (Manitoba); and the MAN Project (Alaska).

The addition of Xstrata Nickel's Canadian Property Land Package creates unlimited exploration opportunities for Pure Nickel.

Pure Nickel is actively evaluating other acquisition opportunities that offer substantial exploration potential to add to its portfolio of advanced stage nickel exploration projects.

PROJECT IN HAND

(1) Fond du Lac Property, Northern Saskatchewan, Canada

Pure Nickel's Fond du Lac Property is located in northern Saskatchewan and comprises eight contiguous claims. The property is located on the northern edge of the Athabasca Basin and encompasses the entirety of Axis Lake (north-central area) and is situated only 20 km NW of Stony Rapids.

Highlights include:

• 95,000 acre (38,000 ha) project area in northern Saskatchewan; 100% company owned

• 2006 drilling shows Nickel mineralization in 7 of 7 holes drilled including up to 1.86% Ni and 0.45% Cu

• Mineral resource outlined of 4,000,000 tons of 0.66% Ni and 0.35% Cu at the Axis Lake East Zone deposit alone (non NI 43-101 code compliant)

• Refining facilities at Flin Flon and Thompson

• CDN$1.5 M drill program underway, results expected Summer 2007

(2) Fox River Project, Northeastern Manitoba, Canada

The Fox River Project of northeastern Manitoba covers more than 136,000 ha (336,000 acres) of highly prospective ground. It lies on a 100+ km stretch of similar paleo-tectonic structure to that of the Thomson and Raglan nickel deposits, forming part of the Circum-Superior boundary of the Canadian Shield.

The Property's exploration history dates back to 1955 and has been subject to airborne, geophysical surveying, and some exploration drilling by its various owners over that time, including Inco, Sherritt Gordon, BP Exploration, Falconbridge and Noranda.

Pure Nickel Inc. is the 50% joint venture partner and operator in the Fox River Project with Xstrata Nickel (formerly Falconbridge) pursuant to the Company's agreement with Falconbridge dated June 12, 2006. Falconbridge has held the exploration rights to the property since 1998.

The ongoing involvement, support and expertise from Xstrata on the Fox River Project present an excellent resource to Pure Nickel on this Project.

Highlights include:

• Large volume of untested drill targets in the right geological environment

• Close analogy to the Thompson Nickel Belt and Raglan (age, composition, tectonics)

• Exceptional technical resources through Xstrata Nickel joint venture

• Aggressive drill program underway, results expected Summer 2007

(3) MAN Project, South-Central Alaska

Pure Nickel's 100%-interest in the MAN Project, south-central Alaska, was acquired as part of the Company's Reverse Take Over of Nevada Star Resource Inc. in February 2007.

Readily accessible by two paved highways and seasonal roads, the MAN Project is located 400 km northeast of Anchorage and 265 km south-southeast of Fairbanks in an area covering approximately 80,000 hectares.

Highlights include:

• 494,000 acre (200,000 ha) project area; 100% company owned

• Widespread high-grade nickel-copper-platinum group element (Ni-Cu-PGE) showings up to 15.4% Ni, 7.19% Cu, 170 g/t PGE+Au+Ag

• Excellent infrastructure; readily accessible from the Richardson and Denali highways, borders the Alaska Pipeline, lodges and base camp with air strip nearby

• Five major Triassic ultramafic-mafic intrusive complexes host Ni-Cu-PGE mineralization: Alpha, Beta, Canwell, Rainy and Eureka

• Aggressive $4 million exploration program underway, drill results expected in Fall/Winter 2007

(4) Salt Chuck Project, Prince of Wales Island, Alaska

The Salt Chuck Property consists of 143 unpatented federal mining claims covering approximately 2,200 acres of prospective ground including the historic Salt Chuck mine on Prince of Wales Island, Alaska. The area is underlain by a mafic-ultramafic complex which hosts palladium bearing copper sulfide mineralization. Price of Wales Island can be accessed by ferry service from Ketchikan to Hollis. Direct access to the property is by well maintained U.S. Forest Service roads.

The historic past producing Salt Chuck mine was active between 1919 and 1941 and had a reported production of 300,000 tons of copper sulphide ore grading 0.95% copper (Cu), 2.0 g/t palladium (Pd), 1.1 g/t gold (Au), and 5.7 g/t silver (Ag).

Highlights include:

• 2007 soil geochemical sampling program planned

(5) Xstrata Canadian Nickel Property Package

Pure Nickel is in the process of acquiring 100% ownership in 10 properties from Xstrata with significant land holdings and geological database of information.

• Total consideration will be $15.25 M plus 4.0 M share purchase warrants at $2.00 for 3 years

• Transaction expected closing date is July 9, 2007

• Xstrata will have 2% NSR on each property (Pure Nickel may buy back 1% for $1.0 M), Xstrata will have off-take rights on all properties and the right to back-in for 50% on one property (only) with more than 15 M t of resources

Highlights include:

• William Lake Property has at least 11 potential large ultramafic bodies, historic drill results with grades up to 3.87% Ni over 3.6 m and 2.85% Ni over 6.4 m; drilling expected in Fall 2007

• The Manibridge Property was mined between 1971 to 1977 with historic grades of 2.25% Ni and 0.27% Cu

• South Raglan property claims cover 158,000 acres (64,200 ha) of prospective ground

• Harp Lake intrusion property has potential for Voisey Bay type Nickel-Copper deposits

• Pure Nickel Inc. has a well management team with experience in different areas.

MANAGEMENT

J. Jay Jaski, Chairman & CEO
Mr. Jaski is the Chairman, CEO and founding shareholder of the Corporation. Mr. Jaski is also President and CEO of Regent Securities Capital Corp., a resource-oriented merchant bank. From 1999 to 2004, Mr. Jaski was the Vice-Chairman and COO of Octagon Capital Corporation. From 1997 to 1999, Mr. Jaski was Managing Partner at Jefferson Partners Capital (venture capital), and from 1993 to 1997, he was VP Investment Banking and Director at Research Capital Corp. In addition, Mr. Jaski has over 15 years of senior executive experience at General Motors Corporation, British Steel Corporation and Burlington Industries' Canadian and US divisions. Mr. Jaski is also a director of First Metals Inc. (FMA:TSX).

Dr. Dale Hull, COO
Dr. Hull is the COO and a founding shareholder of Pure Nickel. Dr. Hull is also President of Hull Consulting Services Ltd., a consulting firm specializing in helping mining companies in Canadian provinces and in the high arctic. Prior to this, Dr. Hull was founding president and CEO of Great Northern Mining & Exploration Inc., an exploration stage Nunavut mining company. Dr. Hull holds an M.A. and Ph.D. degrees in Economics from McGill University (Montreal).

Dr. Larry Hulbert, Chief Exploration Officer
Prior to joining Pure Nickel Dr. Hulbert worked for 23 years with the Geological Survey of Canada (GSC) serving most recently as Senior Research Scientist specializing in the metallogeny of mafic-ultramafic rocks and associated Ni-Cu-PGE mineralization. Dr. Hulbert began his nickel career in 1972 when he joined Sherritt Gordon Mines Ltd. as a mine geologist in the Lynn Lake nickel camp (Manitoba). Dr. Hulbert holds a B.Sc. and M.Sc. from the University of Regina, and a D.Sc. from the University of Pretoria, South Africa. Dr. Hulbert has been registered as a Professional Geoscientist since 2003 and is a Qualified Person for the purpose of National Instrument 43-101.

Jay Richardson, CFO
25+ years with big-eight accounting partner and public mining company experience.

Dr. Mark Shore, Staff Geophysicist/Geologist
Contract geophysicist formerly with Falconbridge, 20+ years experience.

Dr. Quentin Gall, Staff Geologist, Land Manager


BOARD OF DIRECTORS

J. Jay Jaski, Chairman - CEO and Founder of Pure Nickel Inc.

Steve Vaughan, Director - Partner, Heenan Blaikie LLP

Harry Blum, Director - C.A., Managing Partner, DMCT Consultants Inc.

David McPherson, Independent Director - Former senior bank executive

Monty Moore, Director - Former Chairman, Nevada Star Resource Corp.

Robert Angrisano, Director - Former President & CEO, Nevada Star Resource Corp.

R. David Russell, Director - CEO, Apollo Gold Corporation


NEWS UPDATE

On July 03, 2007 Pure Nickel Inc. has closed the $19.2 million first tranche of its proposed $27.5 million offering of subscription receipts of the corporation announced on June 12, June 20 and June 26, 2007. 

On June 26, 2007 Pure Nickel Inc. has accepted subscriptions for approximately $23.5 million of securities in connection with the first tranche of an offering of units reported on June 12 and June 20, 2007. Each unit comprises one common share of the corporation and one-half of one common share purchase warrant.

On June 20, 2007, Pure Nickel Inc. announced that it has increased the private placement with Regent Securities Capital Corp. and a syndicate of agents, as a result of strong institutional demand, to up to 22 million units at a price of $1.25 per unit for gross proceeds of up to $27.5-million.

On June 12, 2007, Pure Nickel Inc. announced that it has executed an engagement letter with Regent Securities Capital Corp. whereby the latter has agreed to act as lead agent and potentially form a syndicate of agents for a brokered private placement of up to $22.5-million. The private placement will consist of up to 18 million units at a price of $1.25 per unit. Each unit comprises one common share of the Corporation and one-half of one common share purchase warrant. Each full warrant can be exercised at a price of $1.75 per warrant for a period of 18 months from closing.

Pure Nickel intends to use the proceeds of this private placement to finance the recent Xstrata Nickel property package purchase, to finance its continuing exploration and drilling program on the corporation's advanced nickel exploration properties, and for working capital purposes.

On June 11, 2007, Pure Nickel Inc. announced that it has filed a listing application with the Toronto Stock Exchange with respect to graduating its listing from the TSX Venture Exchange to the TSX. The Company's listing on the TSX is conditional upon, among other things, the approval of the TSX.

Pure Nickel has also filed a National Instrument 43-101 technical report on its Fond du Lac property located in Saskatchewan.

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