| June 13, 2012 High Grade Nickel Mineralogy Confirmed At Kilometer 26 Project | |
| Vancouver, British Columbia -- June 13, 2012 -- Fort St. James Nickel Corp. (the "Company") is pleased to announce that it has received results from electron microprobe scans of eleven samples of mineralized rubble collected in 2011 from the Kilometer 26 project. The examination was competed in early June, 2012 by Micron Geological Ltd. (P.C. Le Couteur, Ph.D, P.Eng.). It is the second examination by Micron Geological, the first one having been completed in 2011. Micron Geological completed 144 scans of metallic grains observed in these eleven samples of which 122 scans were determined to be sulfide minerals and the remaining scans either pure iron or ferrochrome alloy. The 122 sulfide scans have an average nickel content of 42%. The extremely high nickel content of the sulfide minerals is a reflection of some heazlwoodite/millerite minerals (previously unknown) occurring with a predominance of pentlandite minerals. The results further support a hypothesis that an exceptionally high grade sulfide nickel concentrate could be produced from a large low grade nickel mineralized source containing this mineralogy. Other sulfide grains identified in addition to 111 nickel sulfide grains included nine grains of chalcopyrite (copper sulfide), one grain of galena (lead sulfide) and two inclusions of ruthenium arsenide in pentlandite (ruthenium is a platinum group mineral). No pyrite or pyrrhotite grains were observed. The lack of pyrrhotite, which has similar metallurgical properties to pentlandite except that it has negligible nickel content, is key to being able to create a high grade nickel concentrate (consisting of pentlandite, heazlwoodite and millerite) using conventional technologies. The samples analyzed were from mineralized rubble adjacent to a 7,000 meter long magnetic anomaly. An initial six hole drill program was completed at the Kilometer 26 project late in 2011 confirming that the cause of the magnetic anomaly is nickel mineralized ultramafic rock. All holes drilled in 2011 (within a 400 meter by 1,600 meter section of the magnetic anomaly) intersected serpentinized ultramafic rock through their full lengths with five of the holes returning analysis of 0.20% to 0.24% total nickel through their full lengths. The Kilometre 26 Project encompasses 12,479 hectares (30,835 acres), located in the Omineca Mining Division of British Colombia near the community of Fort St. James approximately two and a half hours by highway from the city of Prince George. Due to the relatively low elevation of the Kilometre 26 property and its excellent access, exploration programs can be carried out year-round. Kilometre 26 is accessed by an all-season arterial logging road. J.W. (Bill) Morton, PGeo, a qualified person for the purposes of National Instrument 43-101, has read and taken responsibility for this news release. We seek Safe Harbor. Further detail with respect to recent exploration work conducted on the Property is available in the Company's website www.fortstjamesnickel.com For further information, please contact: Head Office: Sandy MacDougall President and Chief Executive Officer Tel. 604-662-8186 Fax 604-662-8170 www.fortstjamesnickel.com This news release contains certain statements that may be deemed "forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Fort St James Nickel believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Fort St James management on the date the statements are made. Fort St James Nickel Corp. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change, except as required by law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. | |
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