Nearctic Nickel Mines Inc. - Litigation Update



    
    Issued and Outstanding
    29,211,290 Common Shares
    

    TORONTO, June 2 /CNW/ - Nearctic Nickel Mines Inc. (Pink Sheets:   NNMIF)
(the "Company") advises that Canadian Royalties Inc. "CRI" has filed a motion
to homologate the Sheppard Decision of April 1, 2009 with the Superior Court
of Quebec. The Company intends to contest that motion. The Company has
responded by filing its own motion that the Sheppard Decision be annulled.
Each of these motions will be appended to the Material Change Report filed
following upon this Press Release.
    As the Sheppard Decision has not been validated through homologation, the
Ministry of National Resources did not and apparently will not act on CRI's
request for the immediate transfer of a 10% interest in the Expo Ungava
Property.
    As the 10% interest which is the subject of the Sheppard Decision has not
been transferred, the Company, through a subsidiary owns a 30% interest in the
Expo Ungava Property and CRI a 70% interest. The parties remain in the option
phase under the Agreement of January 12, 2001 and the joint venture phase has
not begun. The Company expects that this will remain the case until the
motions for homologation and annulment are finally adjudicated.

    Caution Concerning Forward-Looking Statements

    The information in this news release includes certain information and
statements about management's view of future events, expectations, plans and
prospects that constitute forward looking statements. These statements are
based upon assumptions that are subject to significant risks and
uncertainties. Because of these risks and uncertainties and as a result of a
variety of factors, the actual results, expectations, achievements or
performance may differ materially from those anticipated and indicated by
these forward looking statements. Although Nearctic Nickel Mines Inc. believes
that the expectations reflected in forward looking statements are reasonable,
it can give no assurances that the expectations of any forward looking
statements will prove to be correct. Except as may be required by applicable
securities laws, Nearctic Nickel Mines Inc. disclaims any intention and
assumes no obligation to update or revise any forward looking statements to
reflect actual results, whether as a result of new information, future events,
changes in assumptions, changes in factors affecting such forward looking
statements or otherwise.

    %SEDAR: 00003850E




For further information:

For further information: Paul Vorvis, President, Nearctic Nickel Mines
Inc., Telephone No: (647) 345-6394

Organization Profile

NEARCTIC NICKEL MINES INC

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