First Nickel Hires New CFO

TORONTO, ONTARIO--(Marketwire - Nov. 8, 2011) - First Nickel Inc. ("First Nickel" or the "Company")FNI is pleased to announce that it has hired Mr. Steven J. Cresswell as its new Vice President and Chief Financial Officer ("CFO") to replace Mr. Joseph Del Campo, who is retiring at the end of December 2011. Mr. Cresswell will be joining the Company on December 5, 2011 which will provide a transition period with Mr. Del Campo.

Mr. Cresswell has over 20 years of financial experience working for both private and public companies primarily in the resource sector. Mr. Cresswell was most recently CFO of Melior Resources Inc. an investment company focused on developing resource based opportunities. Prior to his tenure with Melior, he was CFO of Tiberon Minerals PTE, a Singaporean company constructing a polymetallic mine in Northern Vietnam. In addition to his Asian experience, Mr. Cresswell has a broad base of international experience having worked in North and South America and the Caribbean. He received his BAccS from the University of Calgary and also holds a CGA designation.

Mr. Thomas M. Boehlert, President and CEO of the Company commented: "I am very pleased to have Steve joining our executive team. Steve brings a broad base of experience in the mining sector at a time when First Nickel is bringing its Lockerby mine back into production and considering a number of growth opportunities. I would like to thank Mr. Del Campo for his years of services at First Nickel and wish him the very best in his retirement."

Mr. Del Campo joined First Nickel in 2005. He will be available in a consulting role into 2012 in order to facilitate a smooth transition of the position.

About First Nickel

First Nickel is a Canadian mining and exploration company that is in the process of resuming production at its Lockerby nickel / copper mine in the Sudbury Basin in northern Ontario. Once the Lockerby Mine reaches full production (expected in 2012), it will produce approximately 10 million pounds of nickel and approximately 7 million pounds of copper annually, providing a strong base of cash flow from which to grow the Company. In addition to the Lockerby nickel mine, the Company owns exploration properties in the Sudbury Basin, the Timmins region of northern Ontario, and the Belmont region of Eastern Ontario. First Nickel's shares are traded on the TSX under the symbol FNI.

Some of the statements contained in this news release are forward-looking statements that describe First Nickel's future plans, intentions, objectives or goals, and specifically include but are not limited to imminent production at the Lockerby Mine, and anticipated production rates at the Lockerby Mine. In certain cases, forward-looking statements can be identified by the use of words such as "expects", "will", "enable", "anticipates", "estimated" or words of similar effect. Since forward-looking statements are not statements of historical fact and address future events, conditions and expectations, forward-looking statements inherently involve unknown risks, uncertainties, assumptions and other factors well beyond the Company's ability to control or predict. Actual results and developments may differ materially from those contemplated by such forward-looking statements depending on, among others, such key factors as fluctuating metal prices, maintaining operating and exploration teams, and other factors described in the Company's most recently filed Annual Information Form under the heading "Risk Factors" which has been filed electronically by means of the System for Electronic Document Analysis and Retrieval ("SEDAR") located at www.sedar.com. The forward-looking statements included in this document represent First Nickel's views as of the date of this document and subsequent events and developments may cause First Nickel's views to change. These forward-looking statements should not be relied upon as representing First Nickel's views as of any date subsequent to the date of this document. Although First Nickel has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements.