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First Nickel Announces Gold and PGE Values From Hole D04-29 on Dundonald Nickel Project.

TORONTO -- First Nickel Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002)
TSX Transfer from Stack Pointer to Index
TSX True Space Extension
:FNI FNI Fridtjof Nansen Institute (Norway)
FNI Fédération Nationale des Infirmières
FNI Fellow of the Nautical Institute
FNI Filii Nigrantium Infernalium (band)
FNI Fiber Network Identification
) today announced results for Gold and Platinum Group The platinum group (alternatively, the platinum group metals or platinum metals) is a collective name sometimes used for six metallic elements clustered together in the periodic table.  Elements ("PGE PGE Pacific Gas and Electric Company
PGE Portland General Electric
PGE Prostaglandin E
PGE Platinum Group Elements
PGE Pacific Great Eastern (Railroad)
PGE Phenyl Glycidyl Ether
PGE Perfect Girl Evolution
") from Hole D04-29. Results are as follows:
North sector Dundonald South Zone

Hole       From       To        Core       Ni %        Cu%
No.        (m)        (m)       Length                          (g/t)
D04-29     215        230.2     15.2       5.26(a)     0.20     1.77
Incl.      218.95     230.2     11.25      6.57(a)     0.25     2.13
Incl.      218.95     220.65    1.70       14.46(a)    0.49     4.22
Incl.      224.7      230.2     5.5        6.73        0.28     2.67
Incl.      224.7      228.5     3.8        8.15        0.34     3.24
Incl.      224.7      226.8     2.1        11.04       0.40     4.30

(a) Previously reported (October 28, 2004). Note that the core length is not the true width.

From an ore deposit model context, First Nickel also notes that the sulphide intersection in hole D04-29, in conjunction with those in holes D04-07, 16 and 30 may be indicative of an approximately 25 metre wide, steeply southwest plunging sulphide-filled channel within the North Zone that is open both up-plunge and down-plunge. Hole D04-30 penetrated the prospective channel 10 - 15 metres beneath hole D04-29 and intersected 3.05 metres of massive, semi-massive and stringer string·er  
1. One that strings: a stringer of beads.

2. Architecture
a. A long heavy horizontal timber used as a support or connector.

b. A stringboard.
 sulphides, assays for which are awaited.

The surface drilling program is being supervised by Kevin Montgomery, PGeo, of MPH Consulting Limited, a qualified person under National Instrument 43-101 guidelines. Drill core of interest (NQ size) is sawed in half, with one-half sent to a commercial laboratory, Expert Laboratory of Rouyn-Noranda, Que., and the other half retained for future reference. A rigorous quality assurance/quality control program is employed which includes the insertion of standards, blanks and duplicates for each batch of samples.

Core samples are routinely analyzed for nickel, copper and cobalt by aqua regia aqua regia (äk`wə rē`jēə) [Lat.,=royal water], corrosive, fuming yellow liquid prepared by mixing one volume of concentrated nitric acid with three to four volumes of concentrated hydrochloric acid.  digestion, atomic absorption techniques. Those samples returning greater than 5,000 parts per million parts per million

mg/kg or ml/l; see ppm.
 (0.5 per cent) nickel are re-assayed by total digestion atomic absorption and their value reported as a per cent. Selective assays for gold and platinum group elements on the higher-grade nickel samples are carried out by standard fire assay techniques.

The Dundonald property is located east of Timmins in Northeastern Ontario Northeastern Ontario is the region within the Canadian province of Ontario which lies north and east of Lakes Superior and Huron.

Northeastern Ontario consists of Algoma District, Sudbury District, Cochrane District, Timiskaming District, Nipissing District, Manitoulin
, approximately 25 kilometres by road from the Falconbridge Limited's Kidd Creek metallurgical met·al·lur·gy  
1. The science that deals with procedures used in extracting metals from their ores, purifying and alloying metals, and creating useful objects from metals.

 facility. The Dundonald property was acquired from Falconbridge as part of First Nickel's formative transaction whereby Falconbridge now owns 18.4 per cent of the issued and outstanding shares of First Nickel.

First Nickel is a junior mining exploration and development company engaged in the acquisition, exploration and development of mineral prospects in Canada. Pursuant to an agreement with Falconbridge Limited dated January 9, 2004, as amended, First Nickel has acquired 100% of the Dundonald Property located 60 kilometers east of Timmins, Ontario This article is about city in Ontario, Canada. For other uses, see Timmins (disambiguation).
Timmins, with a population of 42,997 (2006), is a city in northeastern Ontario, Canada on the Mattagami River. At 2,961.
, the right to earn up to a 50% interest in 12 unpatented mining claims located in the Kamiskotia area, northwest of Timmins, Ontario, and has formed a strategic alliance with Falconbridge Limited in the western Abitibi Belt for the exploration and development of nickel properties. On June 28, 2004 First Nickel completed an IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard.  and raised $11,500,000 for the drilling and underground exploration of the Dundonald Property, for the first round of drilling of the Kamiskotia prospects and for the strategic alliance with Falconbridge.

At September 30, 2004 First Nickel had a working capital of approximately $11,400,000 with 39,979,713 common shares outstanding.

First Nickel Inc. (TSX:FNI)
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Publication:Business Wire
Geographic Code:1CANA
Date:Nov 4, 2004
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