TORONTO, ONTARIO--(Marketwire - Oct. 9, 2008) - Victory Nickel Inc. ("Victory Nickel" or the "Company")(TSX:NI), (www.victorynickel.ca) announced today that Rene Galipeau, Vice-Chairman, and George Archibald have resigned from the Board of Directors and have been replaced by Richard Murphy and Wayne Whymark. Mr. Murphy and Mr. Whymark are also Directors of Independent Nickel Corp. ("Independent"). These changes to the Board are in line with the Support Agreement entered into by Victory Nickel and Independent pursuant to Victory Nickel's offer to purchase all of the outstanding shares of Independent.
Mr. Murphy holds a B.Sc. in geology from the University of Western Ontario and an Honours Diploma from Laurentian University. Mr. Murphy joined the Board of Independent in 2004 and was appointed as President and CEO in March, 2005. Prior to joining Independent, Mr. Murphy was employed as Vice-President of Corporate Development with Wallbridge Mining Company Limited where he had worked since 1996.
Mr. Whymark has been employed in mineral exploration for approximately 30 years, and has served as a Director of Independent since 2004. Mr. Whymark worked with Newmont Mining Co. and Falconbridge Copper between 1978 and 1981, subsequent to which he served as President of a number of junior exploration companies. In addition, Mr. Whymark was Vice-President, Exploration Fort Knox Gold Resources Inc. between1988 and 1996, and was the founding President of Wallbridge Mining Company Limited between 1996 and 2002.
About Victory Nickel
Victory Nickel Inc. is a Canadian company with three sulphide nickel deposits containing significant 43-101-compliant nickel resources and an approximate 77% ownership of Independent Nickel Corp. Victory Nickel is focused on becoming a mid-tier nickel producer by developing its existing properties, Minago and Mel in Manitoba, and Lac Rocher in northwestern Quebec, and by evaluating opportunities to expand its nickel asset base.
FORWARD-LOOKING STATEMENTS: This news release and the Offer Documents and the material incorporated by reference therein contain 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 the Offer, 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. Because of the risks, uncertainties and assumptions inherent in forward-looking information, prospective investors, including holders of Independent Nickel Shares, in Victory Nickel's securities should not place undue reliance on forward-looking information.
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Victory Nickel Inc.
Victory Nickel Inc.