Pure Nickel Announces Private Placement Equity Financing

TORONTO, ONTARIO, Jun 12, 2007 (MARKET WIRE via COMTEX News Network) --

Pure Nickel Inc. ("Pure Nickel" or the "Corporation") (TSX VENTURE: NIC)(OTCBB: PNCKF) is pleased to announce that it has executed an engagement letter with Regent Securities Capital Corporation whereby the latter has agreed to act as lead agent and potentially form a syndicate of agents for a brokered private placement of up to $22.5 million. The private placement will consist of up to 18 million units at a price of $1.25 per unit. Each unit is comprised of one common share of the Corporation and one-half of one common share purchase warrant. Each full warrant can be exercised at a price of $1.75 per warrant for a period of eighteen months from closing.

Closing of the offering is anticipated to occur on or around June 26, 2007 and is subject to applicable regulatory approval including approval of the TSX Venture Exchange. The agents will receive a commission of 6% of the gross proceeds raised in the private placement and will also receive compensation options allowing them to purchase up to 6% of the total number of units sold in this offering, on the same terms as the offering.

Pure Nickel intends to use the proceeds of this private placement to fund the recent Xstrata Nickel property package purchase, to fund its ongoing exploration and drilling program on the Corporation's advanced nickel exploration properties and for working capital purposes.

About Pure Nickel www.purenickel.com

Pure Nickel is a mineral exploration company with multiple, advanced nickel sulphide and PGE projects in Canada and Alaska.  The Company has just signed an agreement to acquire ten, nickel exploration properties from Xstrata Nickel.  This dramatically expands Pure Nickel’s potential as it moves into the ranks of being one of North America’s largest nickel exploration companies.  The agreement significantly increases Pure Nickel’s property portfolio from its current three high caliber projects (Fond du Lac Project (Saskatchewan); the Fox River Project (Manitoba); and the MAN Project (Alaska)) for which a C$8.0 million fully funded exploration program for 2007 is underway and drill ready.

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The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This press release contains information that is forward-looking information within the meaning of applicable securities laws.  In some cases, forward-looking information can be identified by the use of terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue”, or the negative of these terms or other similar expressions concerning matters that are not historical facts.

Forward –looking information by its nature necessarily involves risks and uncertainties including, without limitation, the difficulty of predicting the current regulatory and supervisory environment, the timing and conditions to obtaining any regulatory or other requisite approvals, market acceptance and demand for existing and new products and services, the Company’s ability to maintain and service new and existing customers, the protection of intellectual property associated with the Company’s products and services, the impact of competition generally and new competitive products, currency and foreign exchange fluctuations, risks associated with the Company’s customer care solutions facility, and related risks and uncertainties.  Additional risks and uncertainties affecting the Company can be found in the Company’s Annual Information Form available on SEDAR at www.sedar.com.  If any of these risks or uncertainties were to materialize, or if the factors and assumptions underlying the forward-looking information were to prove incorrect, actual results could vary materially from those that are expressed or implied by the forward-looking information contained therein.  The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.