Arbitration Contestation and Counterclaim filed by Nearctic Nickel Mines Inc.

Issued & outstanding
29,211,290 Common Shares

TORONTO, April 7 /CNW/ - Nearctic Nickel Mines Inc. (the "Company"), advises that in response to Canadian Royalties Inc.'s ("CRI") Statement of Claim in the Arbitration, attached to the Company's Material Change Report filed on Sedar March 8, 2011, it has filed a Contestation and Counterclaim.

In the Contestation the Company advances numerous reasons why CRI's claims must fail. In the Counterclaim the Company seeks a remedy as provided by Article 1604 of the Quebec Civil Code, being termination of the Agreement with CRI dated January 12, 2001. The Contestation and Counterclaim will be annexed to the Material Change Report filed in connection with this Press Release.

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 the Company 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, the Company 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.

SOURCE Nearctic Nickel Mines Inc.

For further information:

David Hynes - Director
Tel: 905-361-2020

Profil de l'entreprise

Nearctic Nickel Mines Inc.

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