International Nickel Ventures Announces New Appointments
Toronto, ON — January 10, 2008 — International Nickel Ventures (“INV”) (TSX: INV, INV.WT) is pleased to announce that Candace MacGibbon has been appointed Chief Financial Officer of INV, effective March 31, 2008. Ms MacGibbon is a Chartered Accountant and a U.S. Certified Public Accountant (Illinois). Ms MacGibbon has extensive experience in the mining sector as a result of her previous employment as a global mining institutional salesperson with RBC Capital Markets and in base metals research as a mining associate with BMO Nesbitt Burns. Ms. MacGibbon’s experience in accounting matters includes her previous role as a Manager at Deloitte LLP and as a cost analyst with Inco Limited. Prior to the commencement of her duties as Chief Financial Officer on March 31, 2008, Ms MacGibbon will serve as a consultant to INV.
The appointment of Ms MacGibbon as Chief Financial Officer of INV follows the determination of the board of directors that the Company’s aggressive growth plans, including its recent acquisitions of several highly prospective projects in Canada and Brazil, and the resulting significant increase in exploration activities now requires the services of a full time CFO rather than continue with the current part time situation.
The board and management wish to extend its best wishes to outgoing Chief Financial Officer, Mario Miranda, who will resign effective March 31, 2008, and also wish to thank Mario for his past contributions and those during the transitional period.
INV is pleased to announce the appointment of Eric Klein to the board of directors of INV and as Chairman of the Audit Committee of INV effective January 10, 2008. Mr Klein is a Chartered Accountant and Chartered Business Valuator with over 20 years of experience in corporate finance and valuation, corporate management, and professional accounting. Mr. Klein currently serves as the lead partner of Klein Farber Corporate Finance Inc., a financial services advisory firm which is a member of the Farber Financial Group, and has served as an advisor to various corporations, quasi-government organizations, and private individuals and groups.
INV is also pleased to announce the appointment of Brent Peters to the board and to the Audit Committee effective January 10, 2008. Mr. Peters has extensive public company experience in the mining sector as a result of his position as Vice President, Finance for Northfield Capital Corporation (TSXV:NFDA), as Chief Financial Officer for Gold Eagle Mines Ltd. (TSX:GEA), and as a director of Aranka Gold Inc. (TSXV: ARK) and GeoGlobal Resources Inc. (AMEX: GGR). Mr. Peters holds a B.B.A. from Brock University and has also formerly served as a director and officer of various other junior mineral resource companies.
INV also announces today that Ann Gibbs has resigned as Director Investor Relations of the company, effective January 31, 2008. The board of directors of INV extends its best wishes to Ms Gibbs in her future endeavours and wishes to thank her for her contribution to INV.
INV is a Canadian mineral resource company focused on the acquisition, exploration and development of base metal projects. Current projects are located in Brazil and Ontario. INV’s primary asset is an option to acquire, along with 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. Once earned, INV will hold 27% of the 75% interest for a total project interest of 20.25%.
INV holds a 100% interest in three prospective projects in northern Ontario. Two projects are located in the James Bay Lowlands area near the McFaulds Lake high grade nickel-copper-precious metals discovery. The third property is contiguous with Xstrata Nickel’s operating Montcalm nickel mine in the Timmins area (see press release November 12, 2007).
INV is currently carrying out exploration programs on its Niquelândia and Damolândia properties in Brazil (see press releases of November 27, 2007 and October 17, 2007). As well, INV has a 100% ownership in an extensive land package, which now totals 480,712 hectares in Goiás, Pará and Tocantins States considered prospective for both lateritic and sulphide nickel deposits. INV is currently focusing on two high-priority areas within this land package, Aguas Claras and Taquaral, and is carrying out exploration activity to identify possible drill targets.
Please visit INV’s website at www.nickelventures.com.
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. Such risk factors include, without limitation, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of resource and reserve estimates, currency fluctuations, dependence upon regulatory approvals, the availability of future financing and exploration risk. In this news release there is no guarantee that any drill targets or economic mineral deposits will be found on INV’s properties. 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.