Ms. Misty Urbatsch reports

CORE NICKEL ANNOUNCES UP TO $350,000 FLOW-THROUGH PRIVATE PLACEMENT FINANCING

Core Nickel Corp. proposes to undertake a non-brokered private placement of up to 3,888,889 flow-through units at a price of nine cents per flow-through unit for proceeds of up to $350,000, if the offering is fully subscribed. The flow-through units are being offered to qualified purchasers in reliance upon exemptions from prospectus and registration requirements of applicable securities legislation.

Each flow-through unit will consist of one flow-through common share of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder to purchase one common share of the company at a price of 14 cents at any time on or before that date which is 24 months after the closing date of the offering.

The gross proceeds received from the sale of the flow-through units will be used for work programs on the company's Halfway Lake and Resting Lake exploration properties.

The company will pay finders' fees comprising cash and non-transferable warrants in connection with the offering, subject to compliance with the policies of the Canadian Securities Exchange. Red Cloud Securities Inc. is acting as a finder with respect to the offering.

Directors and officers of the company may acquire securities under the offering, which will be considered a related party transaction as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. Such participation is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.

All securities issued and sold under the offering will be subject to a hold period expiring four months and one day from their date of issuance in accordance with the policies of the CSE and applicable securities laws.

About Core Nickel Corp.

Core Nickel is a junior nickel exploration company that controls 100 per cent of five properties in a prolific nickel district -- the Thompson nickel belt (TNB) in Northern Manitoba, Canada. The five properties consist of 150,000 hectares of land that is proximal to existing infrastructure, such as highways and operating mills.

Core Nickel has a large contiguous land package in the northern part of the TNB, situated approximately 16 to 20 kilometres from the city of Thompson. Core Nickel's northern TNB projects consist of three properties: Mel, Hunter and Odei River. The Mel property encompasses the Mel deposit, which is characterized by a historical National Instrument -43-101 resource estimate with an indicated resource of 4.3 million tonnes at 0.875 per cent nickel, equating to 82.5 million pounds contained nickel, and a historical inferred resource estimate of one million tonnes at 0.839 per cent nickel, equating to 18.7 million pounds of contained nickel. The target stratigraphy (Pipe formation) that hosts the Mel deposit and other deposits in the Thompson nickel belt extends onto the Hunter and Odei River properties, and drill hole intersections into the target stratigraphy on the Hunter project have successfully intersected elevated nickel.

The company also holds two properties in the southern TNB near Wabowden: Halfway Lake and Resting Lake. Both properties host the target Pipe formation associated with known elevated nickel mineralization and are proximal to existing nickel deposits, mills and other infrastructure.

The qualified person under NI 43-101, Standards of Disclosure for Mineral Projects, for this news release is Misty Urbatsch, MBA, PGeo, chief executive officer, president and director for Core Nickel, who has reviewed and approved its contents.

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