Benchmarking Analysis of the Development Direction of MHP and Nickel Matte

Benchmarking Analysis Of the Development  Direction Of MHP And Nickel Matte

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Technical Due Diligence Survey Of Nickel Product Unit

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Long-term Price Forecast Of Nickel Industry

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Feasibility Study Of Nickel Industry Investment

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Nickel

Winter Work Program Underway at Victory Nickel's Minago Project

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TORONTO, ONTARIO,&nbsp;Mar. 1&nbsp;-- Victory Nickel Inc. (the &quot;Company&quot;) (TSX: NI) (<a href="http://www.victorynickel.ca">www.victorynickel.ca</a>) announced that three drill rigs are on site and that diamond drilling is underway at its 100% owned Minago Nickel Project located on the Thompson Nickel Belt approximately 485 kilometres north of Winnipeg, Manitoba.
The drill program has been modified slightly from that previously announced, and will comprise approximately 11,000 metres targeting the extension to depth of the Nose Deposit, where the entire reported Minago nickel resource is located; the North Limb, a nickel-mineralized domain at least 1.5 km in length that extends north from the Nose Deposit; and a variety of geophysical targets around the property.
A deep drill hole will test for extension of the Main Zone to depth. The deepest hole drilled to date in the Nose Deposit ended in 3.93 metres grading 1.91% nickel at a depth of 830 metres. The winter 2011 hole will be drilled steeply to the north beneath the western part of the Nose Deposit to a total length of approximately 1,500m, making it the deepest hole drilled to date at Minago.
A series of holes up to 600m long will assess the geology and mineralization of the North Limb to enhance the overall understanding of this nickel mineralized domain where host rock and mineralogy are known to be identical to the Minago Nose Deposit.
A surface electromagnetic (EM) geophysical survey, designed to identify new areas of sulphide mineralization, is also underway on a 100km grid established on the property during January.
Completion of the winter work program is expected in mid to late April. Victory Nickel's Qualified Person under the NI 43-101 guidelines is Paul Jones, Vice-President, Exploration. Mr. Jones has reviewed and approved the contents of this news release.
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