Independent Nickel Identifies New Geophysical Targets in Proximity to Disco Zone at Lynn Lake

Independent Nickel Identifies New Geophysical Targets in Proximity to Disco Zone at Lynn Lake

Thursday, August 7th 2008

Independent Nickel Corp. has received results from an induced polarization (“IP”) geophysical survey in and around its recently discovered Disco Zone on the Lynn Lake nickel mine property. In addition to characterizing the Disco Zone mineralization, the geophysical survey has highlighted 10 similar targets. Drilling on the Lynn Lake property has now resumed following a brief shutdown.

The Company has also completed 3D modeling of the Disco Zone, to aid in interpretation of the controls and potential volume of the mineralization. This modeling has confirmed “open” areas in proximity to the Disco zone both at depth and to the southeast of the zone as defined to date.

The 3D modeling has also confirmed the presence of a previously unknown structure that controls the mineralization and trends to the south-southwest. Historically, Lynn Lake ore bodies were associated with a different, south-southeast trending structure. It is believed that this new structure is related to the historic structure and offers similar exploration potential along its main trend. This main trend of the newly discovered controlling structure represents some of the highest potential for future discovery of near-surface mineralization.

The combined results of the 3D modeling and IP survey demonstrate the excellent exploration potential at Lynn Lake, as well as the potential for the Disco Zone to become an important new resource. The current phase of diamond drilling will test all of the newly defined targets, as well as further defining the extents of the Disco Zone.

Images of the IP survey results, and 3D model images, can be viewed at the Company’s web site at

Independent Nickel owns 100% of the Lynn Lake Nickel Mine, located in Lynn Lake, Manitoba. 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.

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