First Nickel Inc. announced that it has filed with the Canadian securities regulatory authorities its audited financial statements, and management's discussion and analysis for the year ended December 31, 2009.

Complete results will also be available on SEDAR and on the Company's website at www.firstnickel.com. All dollar amounts are expressed in Canadian currency unless otherwise stated.

Summary

- A net loss of $7.5 million was recorded in 2009. This compares to a net loss of $24.2 million recorded in 2008.

- In July 2009, the Company completed a US$10 million financing with Resource Capital Fund IV L.P.

- The Company received independent feasibility studies which demonstrate robust economics for further development at Lockerby.

- At December 31, 2009, the Company had net working capital of $6,451,341.