Fletcher Nickel substantially extends Texmont strike length



    TORONTO, June 26 /CNW/ - Fletcher Nickel Inc (TSX: FL) has intersected a
13-metre interval of intense mineralization in drill-hole TEX08-49 on grid
section 17+00N, 1+50E, 270/-50.
    The intercept is significant in that it demonstrates the potential for
higher grade nickeliferous pentlandite zones to occur within the north
extension of the mineralized peridotite envelope. This well-mineralized
intersection (from 158 to 171 metres) followed weakly mineralized intervals
from 51 to 68 metres and from 103 to 140 metres and a moderately mineralized
interval from 140 to 158 metres. This substantial width of mineralization
replicates the intersections on lines 14+00N and 16+00N previously reported
(see news release of May 22nd, 2008). However, when taken with those previous
results, the current intersection of more intense mineralization adds markedly
to the potential for the delineation of new shallow-level economic mineral
resources at grades that compare favorably with mine-economic grades at
Australia's Mt. Keith mine operated by BHP.
    A surface IP geophysical survey indicates an area of mineralization which
may be similar to that occurring within the historical Texmont Mine zones and
which extends north of the mine shaft. The present intersection confirms that
the same structures may be continuous over a very long strike length, as
drill-hole TEX08-49 is 700 metres north of the Texmont Mine shaft. The IP
anomaly continues to the north for at least another 400 metres and is to be
drill-tested soon. The IP survey is also being extended northward beyond its
current limit to analyze the complete extent of the pentlandite-hosting
peridotite.
    Hadyn R. Butler, P.Geo, is a qualified person within the meaning of
National Instrument 43-101 and is retained as such as an independent
exploration program consultant by Fletcher Nickel. Mr. Butler 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 release. The tenor of mineralization reported from a visual
assessment of the drill core was reported by project geologists inspecting and
logging the core at Fletcher Nickel's core shack under Mr. Butler's
supervision and instruction. Assays of the grade of mineralization contained
in the various core intervals will not be received for some time.

    Forward Looking Information: This news release contains or refers to
forward-looking information. All information other than statements of
historical fact that address activities, events or developments that Fletcher
Nickel believes, expects or anticipates will or may occur in the future are
forward-looking statements. Such forward-looking statements contained in this
news release include statements regarding potential exploration results and
mineralization at Fletcher Nickel's Texmont property. Such forward-looking
statements also include, without limitation, statements contained in this news
release regarding potential exploration results and the potential for the
delineation of new shallow-level economic mineral resources at grades that
compare favorably with mine-economic grades at Australia's Mt. Keith mine.
These forward-looking statements reflect the current expectations or beliefs
of Fletcher Nickel based on information currently available to Fletcher
Nickel. These forward-looking statements are subject to a variety of risks and
uncertainties beyond Fletcher Nickel's ability to control or predict that may
cause actual events or results to differ materially from those discussed in
such forward-looking statements. Factors that could cause actual events or
results to differ materially from current expectations include, among other
things: future exploration results varying significantly from estimates;
inability to delineate additional mineral resources or reserves; and other
factors. Any forward-looking statement, speaks only as of the date on which it
is made and, except as may be required by applicable securities laws, Fletcher
Nickel disclaims any intent or obligation to update any forward-looking
statement, whether as a result of new information, future events or results or
otherwise. Although Fletcher Nickel believes that the assumptions inherent in
the forward-looking statements are reasonable, forward-looking statements are
not guarantees of future performance and accordingly undue reliance should not
be placed on these forward-looking statements due to the inherent uncertainty
therein.

    %SEDAR: 00025268E




For further information:

For further information: Bruce Hodgman, Communications Director, Direct:
(416) 642-3575 (ext: 103), info@fletchernickel.com

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