International Nickel Ventures announces closing of $23.1 million financing

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION
IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO U.S.
NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

TORONTO, Ontario, Canada — May 18, 2007 — International Nickel Ventures Corporation (“INV”) (TSX: INV) announced today that it has closed its previously announced bought deal financing of 11,155,000 units (“Units”) at a price of C$1.75 per Unit (the “Offering”) for gross proceeds to INV of C$19,521,250. At closing the Underwriters (as defined below) exercised their over-allotment option in full. Each Unit consisted of one common share (a “Common Share”) in the capital of INV and one-half of one Common Share purchase warrant. Each whole Common Share purchase warrant (a “Warrant”) entitles the holder to acquire one additional Common Share at a price of C$2.25 until November 18, 2008.

The Units were sold through CIBC World Markets Inc. and Canaccord Adams (collectively, the “Underwriters”).

Concurrent with the closing of the Offering, INV completed its previously announced private placement (the “Concurrent Private Placement”) of 2,032,434 Units on the same terms as the Offering for additional gross proceeds to the Company of approximately $3,556,760. The securities issued and issuable in the Concurrent Private Placement are subject to a statutory four month hold period from closing.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

About INV

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 73% partner and operator Teck Cominco, a 75% interest in two advanced-stage nickel laterite deposits, Santa Fé and Iporá, in the Goiás nickel camp of Brazil. In addition, INV has 100% ownership in an extensive land package of prospective nickel properties in Goiás, Para and Tocantins States which now totals over 390,000 hectares. INV has outstanding approximately 48 million Common Shares.

Forward-Looking Statement

This press release contains certain forward-looking statements. These forward-looking statements are subject to 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. For a more detailed discussion of such risks and other factors, refer to INV’s filing with Canadian securities regulators available on www.sedar.com or INV’s website at www.nickelventures.com.