Pure Nickel Graduates to Tier 1 Status for Value Security Escrow Agreement

TORONTO, ONTARIO--(Marketwire - Oct. 17, 2007) - Pure Nickel Inc. (the "Corporation") (TSX:NIC)(OTCBB:PNCKF) announces that in connection with the Corporation listing on the TSX it has also graduated to Tier 1 value security escrow status. Under the Corporation's escrow agreement with Pacific Corporate Trust Company dated March 28th, 2007 the release of escrowed securities schedule has been revised to an accelerated escrow schedule. Effective immediately 2,396,863 shares will be released to bring the total number of shares released in line with Tier 1 status and leave a balance of 4,793,726 shares remaining in escrow. Future releases scheduled for March 30, 2007 and September 30, 2007 will amount to 2,396,863 shares for each release.

About Pure Nickel Inc.:

Pure Nickel is a mineral exploration Company with a diverse collection of advanced multiple nickel sulphide and PGE projects in Canada and Alaska. The Company's 2007 exploration program is underway on multiple properties and is fully funded.

Total Shares Outstanding: 67.766 million

Fully Diluted: 92.410 million

52-Week Trading Range: C$0.58 - $1.65

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

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