Drilling Continues to Confirm Continuity at Victory Nickels Minago Deposit

Drilling Continues to Confirm Continuity at Victory Nickels Minago Deposit

Friday, August 29th 2008

Victory Nickel Inc. reported further drilling results from the 2008 winter drilling program that continue to confirm continuity of nickel mineralization to depth beneath the large, open pit exploitable resource and for substantial expansion of the known resource at its Minago sulphide nickel project in Manitoba.

The results from these holes complement those reported earlier from the 2008 work program. Hole V-08-09 was collared to enhance confidence in a deeper resource designated the eastern “Root” of the deposit, while Hole V-08-10 tested an undrilled area directly beneath the known open pit resource.

“These drill holes, which are among the deepest drilled at the project to date, continue to show that nickel mineralization persists to considerable depth beneath the known open pit resource,” said Vice-President, Exploration Paul Jones. “The drilling clearly supports the potential to further enhance the nickel resource at Minago. The deposit remains open at depth, and of particular importance is hole V-08-10, drilled in the gap between existing resources, which demonstrates the potential presence of a volume of rock comparable in size to the existing open pit exploitable resource.”

This completes reporting of the ten drill holes that were collared to test for continuity of the Minago Deposit, comprising 7,532 metres. The holes were drilled as part of a larger 2008 winter work program that included condemnation drilling around planned infrastructure sites and exploration drilling elsewhere on the property. Further drilling was undertaken to provide data for hydrogeological and geotechnical studies.

All intervals reported in this news release are core lengths and not true widths. All analyses were conducted by TSL Laboratories of Saskatoon, Saskatchewan and are reviewed for QA\QC purposes prior to public release. The Minago work program is being supervised by Paul Jones, Vice-President, Exploration for Victory Nickel, who acts as QP under National Instrument 43-101 and has reviewed and approved the contents of this news release.

Victory Nickel Inc. is a Canadian company with three sulphide nickel deposits containing substantial National Instrument 43-101-compliant resources (see website). 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.
Website: www.victorynickel.ca.

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