Fletcher Nickel drilling confirms Texmont mineralization model intersecting 0.88% Ni over 27 meters



    TSX: FL

    TORONTO, Feb. 14 /CNW/ - Assay results from four additional diamond drill
holes cross-cutting the Mt Keith-style mineralization of Fletcher Nickel Inc's
(TSX: FL) Texmont Mine, confirm the Timmins area property's potential to
expand on historical resources.
    In 2006, in advance of Fletcher Nickel's IPO, a series of diamond
drill-holes were completed to test the known mineralized envelope surrounding
upper mine workings, and the historical mine widths and grades. Two of those
holes established the potential for significantly increased tonnages in an
expanded mineralized envelope. As detailed in the Company's prospectus (dated
October 25, 2007), drill-hole TEX06-01 yielded 0.95% Ni over a sample interval
of 19m using the 0.7% Ni cut-off grade. However, the same hole returned a 42m
interval grading 0.67% Ni when a cut-off of 0.4% Ni was used. Similarly,
drill-hole TEX06-05 yielded 1.15% Ni over 8.2m at a cut-off of 0.7% Ni,
whereas this hole returned a 28.5m interval of 0.66% Ni with a cut-off grade
of 0.4% Ni. The four drill-holes now reported continue to demonstrate similar
results, as tabulated below. All were drilled on a section 200m south of the
former mine shaft.

    
    -------------------------------------------------------------------------
      Hole     Northing   Easting    UTM (mN x mE)   Dip    from      to
    -------------------------------------------------------------------------
    TEX07-12    8+00N      0+60E    5334342x484907   -50   150.80   171.00
    -------------------------------------------------------------------------
    TEX07-13    8+00N      1+87E    5334338x485035   -50   322.00   349.00
    -------------------------------------------------------------------------
    TEX07-14    8+00N      1+87E    5334338x485035   -63   364.00   374.00
    -------------------------------------------------------------------------
    TEX07-15    8+00N      1+25E    5334339x484974   -48   236.00   249.00
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
      Hole     Length(*)   Ni %   incl from     to     length(*)   Ni %
    -------------------------------------------------------------------------
    TEX07-12     20.2m     0.72     150.80    160.20     9.4m      0.88
    -------------------------------------------------------------------------
    TEX07-13     27.0m     0.88     338.00    345.00     7.0m      1.02
    -------------------------------------------------------------------------
    TEX07-14     10.0m     0.48     370.00    374.00     4.0m      0.67
    -------------------------------------------------------------------------
    TEX07-15     13.0m     0.73     236.80    239.80     3.0m      1.53
    -------------------------------------------------------------------------
    (*) Core length represents approximately 80 to 85% of true width
    

    These results confirm the potential for Texmont to expand tonnages, at
grades that compare favorably with mine-economic grades at Australia's
Mt Keith mine operated by BHP. The current drill program is also examining the
untested strike of the mineralized peridotite host, to establish new
shallow-level economic mineral resources. Information relating to historical
resource calculations for the Texmont Mine, and their relevance and
reliability, may be found in the Company's prospectus, filed on SEDAR.
    Fletcher Nickel's drill core is secured from the gated Texmont Mine site
to a locked warehouse in Timmins for geological logging, and mineralized
sections are split by diamond saw - half core is retained in the warehouse for
future examination and verification. Mineralized half-core is sampled,
numbered and bagged under the supervision of a qualified geologist, and the
samples are crushed at True North Mineral Laboratories in Timmins, and pulps
are sealed and shipped to Activation Laboratories Ltd in Ancaster (Actlabs),
Ontario for assay. Actlabs' quality assurance system is accredited to ISO/IEC
17025 standards with CAN-P-1579 (Mineral Analysis) for specific registered
tests by the Standards Council of Canada. Fletcher also inserts standards and
blanks into assay batches to confirm assay batch consistency. David Beilhartz,
PGeo, the manager of exploration for Fletcher Nickel, is a qualified person
within the meaning of National Instrument 43-101. Mr. Beilhartz, supervised
the preparation of the disclosure in this release, and has verified the data
disclosed in this release, including the sampling, analytical and test data
underlying the information. Geological logging, sampling and core handling
procedures were carried out under the supervision of Mr. Beilhartz.

    %SEDAR: 00025268E




For further information:

For further information: Bruce Hodgman, Communications Director, Direct:
(905) 582-9744, info@fletchernickel.com

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