Nearctic Nickel Mines Inc.



    
    Issued and Outstanding
    29,211,290 Common Shares
    

    TORONTO, Sept. 11 /CNW/ - Nearctic Nickel Mines Inc. (Pink Sheets:   NNMIF)
and its subsidiary, Ungava Mineral Exploration Inc. ("UMEI") have received the
Canadian Royalties Inc. ("CRI") Defence, Cross-Demand and Answer to the motion
to annul the Sheppard arbitration Decision of April 1, 2009. It has two
interesting aspects. First, CRI suggests that the Feasibility Study prepared
for it by SNC-Lavalin was based on the assumption that CRI would gain access
to Donaldson Airport owned by Falconbridge/Xstrata for the transport of
personnel and mine building material to the Expo Ungava Property. This
suggests that CRI thinks it raised $75 million in 2007 and $137 million in
2008 on the assumption that it would get access to the Expo Ungava Property
through the shared use of that airport.
    What the Feasibility Study actually states in part in this regard, is the
following:
    "Section 18.2. At the time of writing this report, CRI has concluded an
agreement for the joint use of the Donaldson Airport. CRI will provide for
expanding the current infrastructure in order to support the increase in
traffic, as detailed in Section 7."
    Second, CRI's Defence fails entirely to address the decisive issue that
the arbitrator openly remade the Option Agreement by deleting Article 2.1(d),
which was the provision under which CRI could be vested with a 10% interest,
bringing its interest in the Expo Ungava Property to 80%, and inserting a 10%
vesting provision found in a superseded Letter of Intent. CRI's pleadings will
be attached to the Material Change Report to be filed in respect of this press
release.
    A date for hearing of the motion to annul the Sheppard Decision has not
yet been set.
    UMEI remains the registered owner of a 30% interest in the Expo Ungava
Property.

    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

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NEARCTIC NICKEL MINES INC

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