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INDEPENDENT NICKEL CORP.
102 - 957 Cambrian Heights Drive
Sudbury, ON  P3C 5M6
(the "Company")

NEWS RELEASE

October 11, 2007

TSX Trading Symbol: INI Telephone: 705-521-8444
Email: info@independentnickel.com Facsimile: 705-521-1845
 

Independent Nickel Receives Positive Results from Metallurgical Testing

Sudbury, Ontario – October 11, 2007 – Independent Nickel Corp. (TSX: INI) (the “Company”) announced today that it is in receipt of metallurgical test results on ore from its Lynn Lake Nickel deposit. Testing completed confirms that a conventional milling and flotation process delivers very high metal recoveries from Lynn Lake nickel ores. Highlights of the results are as follows:

  • Nickel recovery of 81.5%;
  • Copper recovery of 92.0%;
  • Cobalt recovery of 80.5%;
  • A high quality mill concentrate containing 9.3% nickel, 7.5% copper and 0.3% cobalt; and
  • Favorably low magnesium (MgO) content of 1.3% in the concentrate.

As a result of these high recovery rates and concentrate characteristics, Wardrop Engineering is evaluating the bioleach model as the base economic case in the current pre-feasibility study. To that end, the Company has recently completed test work to determine the amenability of the Lynn Lake concentrate to bioleaching. Initial testing in this regard has been very successful. High rates of metal recoveries leached from the concentrate have been realized, including 92.5% for nickel. 81.4% for copper and 85% for cobalt. These recoveries confirm that the sulphur content of the concentrate is within an acceptable range for bioleaching.

As the Company intends to pursue the bioleaching of concentrate process for the Lynn Lake nickel mine, it has initiated discussions with a number of organizations with global expertise in the area of bioleaching. Company President and CEO, Richard Murphy, along with a senior Wardrop engineer with expertise in the field of bioleaching, recently traveled to South Africa and Uganda to meet with several bioleach operators. This included a tour of the Kasese Cobalt bioleach facility in Uganda. The results of this due diligence were very positive, with both the Company and Wardrop representatives coming away with a strong sense of the technical feasibility of a bioleach facility at Lynn Lake.

The Company is planning further metallurgical work, with a view to bringing bioleaching, a globally proven process technology, to North America, where base metal ores have traditionally been treated by relatively expensive and less environmentally friendly smelters.

The attraction of the bio-leaching economic model to the Company is twofold. First, the Company will avoid costly transportation and smelter fees associated with selling concentrate. Second, a bioleach facility can be coupled with a conventional solvent extraction-electrowinning circuit to produce a refined nickel product.

The establishment of such a facility at Lynn Lake will position Independent Nickel among a very short list of integrated nickel producers and marketers of nickel products worldwide, of which there are currently only three in North America. As an integrated nickel producer and marketer, the Company will be better positioned to realize the maximum value from its nickel deposit.

All metallurgical test work was completed by Process Research Associates of Richmond, British Columbia, under the supervision of Wardrop Engineering. Metallurgical results will be incorporate into the Pre-feasibility Study on the Lynn Lake Nickel deposit, which is scheduled for completion at the end of this month.

Independent Nickel owns 100% of the Lynn Lake Nickel Mine, located in Lynn Lake, Manitoba. The Company also owns a Net Smelter Return Royalty on Victory Nickel Inc.’s Minago Nickel Property, also located in Northern Manitoba. The NSR pays the Company 3%of all mineral product value when nickel prices exceed US$6/lb.

FOR FURTHER INFORMATION PLEASE CONTACT:

Independent Nickel Corp.
Richard Murphy, President and CEO
Tel: (705) 521-8444
Email: info@independentnickel.com
www.independentnickel.com

957 Cambrian Heights Drive
Suite 102
Sudbury Ontario P3C 5M6

Tim Maunula, P.Geo, of Wardrop Engineering Inc. and Project Manager for the Lynn Lake prefeasibility study, has reviewed and approved the content of this press release.

This document may contain forward-looking statements relating to Seymour Exploration Corp.’s operations or to the environment in which it operates. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and may be beyond Seymour’s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth in other public filings. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not be placed on such forward-looking statements. Seymour disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

 

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