CNI Continental Nickel Limited

Continental Nickel Limited (TSX VENTURE:CNI) ("Continental" or the "Company") is
pleased to announce that it has commenced a diamond drilling program on its 70%
owned Nachingwea nickel-copper project in Tanzania.


Approximately 3,000 metres of drilling is planned, initially focusing on drill
testing a number of EM anomalies originally highlighted by the 2007-2008
airborne VTEM surveys completed by the Company and confirmed with subsequent
ground and borehole TDEM surveys. The drill program is expected to take six to
eight weeks to complete and results, including assays, will be reported on an
ongoing basis as they are received, compiled and verified.


The Nachingwea project is a 70:30 Joint Venture with IMX Resources Limited
("IMX") of Australia and is comprised of prospecting licenses and applications
for prospecting licenses covering a regionally extensive land position totalling
7,560 square kilometres, much of which has had only minimal exploration. To
date, six separate nickel-copper sulphide deposits have been discovered by the
Joint Venture at Ntaka Hill for which NI 43-101 compliant Mineral Resources have
been calculated (see CNI press release July 15, 2009). In 2009, Continental is
conducting a CAD$2.5 million exploration program at Nachingwea to continue the
search for nickel sulphide deposits in this emerging new nickel district. Some
twenty eight airborne VTEM anomalies have been identified for further work as
part of this program which includes the 3,000 metre diamond drill campaign
announced above. Continental Nickel remains well funded with CAD$11.3 million in
the treasury.


Craig MacDougall, President & CEO of Continental Nickel Limited, reported "the
exploration team has identified and confirmed a number of high quality EM
targets for exploration and we are now very pleased to see the 2009 exploration
program progress to the drill stage. Given the highly encouraging results of our
previous efforts at Ntaka Hill, which led to the discovery and definition of
Mineral Resources from multiple nickel sulphide deposits, we are very hopeful
that additional discoveries remain to be made on this vast and largely
unexplored property."


Qualified Persons

The quality control, technical information and all aspects of the exploration
program were supervised by Patricia Tirschmann, P. Geo., Vice President,
Exploration for CNI. The information in this release was prepared under the
direction of Craig MacDougall, P. Geo., President and Chief Executive Officer
for Continental Nickel Limited. Both Ms. Tirschmann and Mr. MacDougall are
qualified persons as defined by National Instrument 43-101.


About Continental Nickel

Continental Nickel Limited is focused on the exploration and discovery of nickel
sulphide deposits in geologically prospective, but under-explored regions
globally. Current projects include its 70% controlling interest in the
Nachingwea project in Tanzania, where NI 43-101 Mineral Resources have been
defined and an option joint venture on the St. Stephen project in New Brunswick,
Canada. Continental Nickel has 30,132,395 shares issued and outstanding
(32,442,395 on a fully-diluted basis) and trades on the TSX Venture Exchange
under the symbol CNI. 


On behalf of Continental Nickel Limited

Craig MacDougall, President & Chief Executive Officer

CAUTIONARY STATEMENT: No stock exchange, securities commission or other
regulatory authority has approved or disapproved the information contained
herein. This News Release includes certain "forward-looking statements". All
statements other than statements of historical fact included in this release,
including, without limitation, statements regarding potential mineralization and
reserves, exploration results, future plans and objectives of Continental Nickel
Limited, are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ materially from those
anticipated in such statements. Important factors that could cause actual
results to differ materially from Continental Nickel Limited's expectations are
the risks detailed herein and from time to time in the filings made by
Continental Nickel Limited with securities regulators.


Information in this announcement relating to exploration results is based on
data collected under the supervision of or compiled by Patricia Tirschmann, P.
Geo., holds the position of Vice President, Exploration and is a full time
employee of Continental Nickel Limited. Ms. Tirschmann is a registered member of
the Association of Professional Geoscientists of Ontario and has sufficient
relevant experience to qualify as a Competent Person under the 2004 Edition of
the Australasian Code for the Reporting of Exploration Results, Mineral
Resources and Ore Reserves. Ms. Tirschmann consents to the inclusion of the data
in the form and context in which it appears.

Continental Nickel Limited (TSXV:CNI)
Historical Stock Chart
From Jun 2024 to Jul 2024

Continental Nickel Limited (TSXV:CNI)
Historical Stock Chart
From Jul 2023 to Jul 2024