June 2, 2015Pure Nickel Completes Initial Phase of $1.5 Million Dollar Sale of its Interest in the Tower Property
TORONTO: June 2, 2015. Pure Nickel Inc. (TSXV: NIC) (the "Company") announces it has completed the initial phase of the sale of the Company's 30% interest in the Tower Property, Manitoba. As previously announced on March 31, 2015 Pure Nickel entered into an agreement with Akuna Minerals Inc., ("Akuna Minerals") a private company, for the sale of the Company's interest in the Tower Property for a total of $1,500,000. The first phase of the agreement included a cash payment of $1,000,000; these funds have been received by Pure Nickel. In addition, under terms of the Purchase and Sale Agreement, upon achievement of nameplate production as defined in an NI 43-101 feasibility study, Akuna Minerals will make a another payment to Pure Nickel of $500,000.
Mr. McPherson, Pure Nickel's CEO and President stated, "We are pleased to have realized value for our minority interest in the Tower Property and are confident that Akuna Minerals will progress the project to completion."
About Pure Nickel Inc.
Pure Nickel is a mineral exploration company with a diverse collection of nickel, copper and platinum group element exploration projects in North America.
Forward Looking Statements
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, expectations, plans, and objectives of Pure Nickel are forward-looking statements that involve various risks. The following are important factors that could cause Pure Nickel's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future exploration activities and cash flows, and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Pure Nickel undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:
Pure Nickel Inc.
T. (416) 644-0066
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