International Nickel Updates Regional Exploration
TORONTO, ONTARIO — (CCNMatthews — March 13, 2007) — International Nickel Ventures Corporation (“INV”) (TSX:INV) is exploring through its strategic alliance with Amazonia, a private Brazilian based company, an extensive land position of approximately 455,000 hectares of prospective laterite and sulphide nickel (“Ni”) properties in Goias, Para and Tocantins States in Brazil. Over the past two months, INV has selected and staked approximately 175,000 hectares in the Anapolis Greenstone Belt, Goias State.
In January 2007, INV commenced a nickel sulphide exploration program in the Anapolis Belt, where a large land position was acquired in the most prospective areas of that belt. The Anapolis Belt contains an operating sulphide Ni mine (Americano do Brasil owned by Pro-Metalica and Votorantim), a massive and disseminated Ni sulphide discovery, currently being drilled by Castillian Resources (TSX:CT), as well as numerous other Ni sulphide occurrences. The Anapolis properties contain at least 43 distinct geological, geochemical and geophysical targets, three of which are the highest priority. Reconnaissance work carried out so far on INV’s properties has already identified three anomalous nickel stream sediment zones associated with a mafic-ultramafic differentiated complex. Detailed evaluation work was started in March 2007 on these anomalous zones and will include a VTEM airborne survey to be flown in April.
On the Sao Jose laterite properties, which total approximately 59,000 hectares in nine separate properties within a 30 km radius of Xstrata’s Araguaia nickel laterite Serra do Tapa Project located in Para State, detailed airborne magnetic surveys flown by INV over two of its properties have outlined strong aeromagnetic anomalies. These are currently being followed up with ground magnetic surveys, mapping and prospecting. Encouraging soil assay results were received recently with values above 1,500 ppm Ni and reaching up to 2,360 ppm Ni.
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, a 75% interest in two advanced-stage nickel laterite deposits, Santa Fe and Ipora, in the Goias nickel camp of Brazil. In addition, INV has 100% ownership in an extensive land package of prospective nickel properties in Goias, Para and Tocantins States which now totals over 455,000 hectares (see above). INV has a cash position of $17.6 million (September 30, 2006) and has 34.7 million outstanding shares.
This press release contains certain forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties beyond INV’s ability to control or predict, which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Such risks and uncertainties include, but are not limited to: the actual results of current exploration activities, conclusions of economic evaluations, changes in project parametres, future price of nickel, changes in labor costs or other costs of production, failure of plant equipment or processes to operate as anticipated, possible variations in mineral grade or recovery rates and other general risks of the mining industry. Accordingly, readers should not place undue reliance on forward-looking statements. Forward-looking statements are made as at the date hereof and the Company does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other document, whether as a result of new information, future events or otherwise, except as may be required under applicable securities law. For a more detailed discussion of such risks and other factors, refer to INV’s filings with Canadian securities regulators available on www.sedar.com or the Company’s website at www.nickelventures.com.