Closing of Initial Public Offering


Toronto, Ontario, Canada – March 17, 2006 – International Nickel Ventures Corporation (“INV”) announced today the closing of its Initial Public Offering (the “Offering”) and the start of trading on the Toronto Stock Exchange under the stock symbol “NVC”.

INV is a Canadian mineral resource company focused on the acquisition, exploration and development of nickel projects in Brazil. Its primary asset is an option to acquire, with partner and operator Teck Cominco Limited, a 75% interest in two advanced-stage nickel laterite deposits, the Santa Fé and the Iporá, in the Goias nickel camp of Brazil. In addition, the Company has 100% ownership in an extensive land package of prospective nickel properties in Goias and Para States.

A total of 18,500,000 Common Shares have been issued at a price of $1.20 per Common Share, for gross proceeds to the Company of $22,200,000. The syndicate of underwriters was co-led by CIBC World Markets Inc. and Dundee Securities Corporation, and included GMP Securities L.P., who were compensated pursuant to an underwriting agreement dated March 13, 2006. The Company has granted the underwriters an over-allotment option to purchase up to an additional 2,775,000 Common Shares at $1.20 per share exercisable for up to thirty days from the date of closing.

As part of the Offering, FNX Mining Company Inc. purchased $1 million in Common Shares and Teck Cominco Limited purchased $500,000 in Common Shares. In addition, immediately following the closing of the IPO, INV’s indebtedness to Teck Cominco Limited in respect of prior property payments in the amount of US$1.35 million was converted into 1,299,800 Common Shares of INV pursuant to the terms of a promissory note dated December 6, 2005. Following this issuance, there are an aggregate of 31,832,300 Common Shares of INV issued and outstanding.

The net proceeds of the Offering will be used to complete INV’s share of the approved 2006 programs on the Santa Fé and Iporá Properties as well as on INV’s 100%-owned Goias Region and Para State Properties. It will also be used to fund regional exploration and prospecting activities, the acquisition of additional mineral properties and for general working capital purposes.

The securities referenced by this news release have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy common shares of International Nickel Ventures Corporation in any jurisdiction. The final prospectus and technical report on the Company’s properties are available at

Forward-Looking Statements
Certain information included in this press release, including information relating to future financial or operating performance and other statements that express management’s expectations or estimates of future performance, constitute “forward-looking statements.” Such forward-looking statements include, without limitation, (i) the timing and amount of estimated future capital expenditures and requirements for additional capital; (ii) estimates of mineral resources and realization of mineral resource estimates, and (iii) the timing and amount of estimated future commercial operations. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forwardlooking statements. Such risks include, but are not limited to actual results of exploration activities, conclusions of economic evaluations, changes in project parameters, variances in ore grade or recovery rates from those assumed in mining plans, ore processing, metals price volatility, currency fluctuations in Canadian and United States dollars relative to each other and to the Brazilian real, the ability to successfully integrate acquired assets, political, operational and environmental risks inherent in mining or development activities, changes in labour costs, labour disputes, and legislative factors relating to prices, taxes, royalties, land use, title and permits, importing and exporting of minerals. For a more detailed discussion of such risks and other factors, refer to the Company’s prospectus and filings with Canadian securities regulators available on Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to release publicly revisions to any “forward-looking statement,” to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.