Robert Low Resigns As Director Of International Nickel Ventures
TORONTO, ON – December 21, 2007 — International Nickel Ventures (TSX: INV, INV.WT) announces the resignation of Robert Low as a director of the Company, effective December 20, 2007. Mr. Low is resigning in accordance with the policy of his new employer, wherein a partner of the firm is not allowed to be a Director of a public company.
Mr. Low was appointed to the INV board on January 18, 2006. He is a Chartered Accountant and a Chartered Business Valuator.
Jim Clucas, Chairman of International Nickel Ventures comments, “We appreciate the contribution that Bob has made to the Company as a Director and Chairman of the Audit Committee. His valuable input into the creation and establishment of sound corporate governance has earned the respect and admiration of the INV directors and management. The INV Directors join me in thanking Bob for his contribution to INV and wish him continued success.”
INV is a Canadian mineral resource company focused on the acquisition, exploration and development of base metal projects in Brazil and Canada. Currently, INV’s primary asset is its interest, along with partner and operator Teck Cominco Limited, in the Santa Fé and Iporá advanced-stage nickel laterite deposits. On November 16, 2007, INV announced that together with Teck Cominco Limited, it will make the final option payment, which will give INV a total project interest of 20.25%. For further information on these properties, please refer to Technical Report of May 10, 2007 which details all QA/QP procedures and interpretation of the exploration data and a summary description of the geology which is available on SEDAR at www.sedar.com.
INV also has an option agreement with BCV – Consultoria e Projetos for two projects; the first, is the Damolândia nickel sulphide property where drilling has commenced (see press release of October 17, 2007), the second is over the Niquelândia property which is located between two producing nickel mines. INV also has 100% ownership in an extensive land package, which now totals over 480,712 hectares in Goiás, Pará and Tocantins States considered prospective for both lateritic and sulphide nickel deposits. INV is currently accumulating and reviewing data on this land position, including the results of an airborne electromagnetic survey over two properties, in order to determine which areas are the most prospective for further exploration.
On November 12, 2007, INV announced the acquisition of three prospective properties in northern Ontario from FNX Mining Company Inc. in exchange for 2.9 million common shares of INV. 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 adjacent to Xstrata Nickel’s producing copper-nickel mine in the Timmins area.
Please visit INV’s website at www.nickelventures.com to view technical details relating to the property.
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.