First Nickel Announces Appointment of Receiver

TORONTO, ONTARIO -- (Marketwired) -- 08/20/15 -- First Nickel Inc. ("First Nickel", "FNI" or the "Corporation") (TSX: FNI) announces that, effective August 20, 2015, with the agreement of the Corporation, on application by its principal secured lender, the Ontario Superior Court of Justice made an Order appointing KSV Kofman Inc. ("KSV" or the "Receiver") as the receiver of First Nickel Inc. under the Bankruptcy and Insolvency Act (Canada).

The appointment of KSV follows extensive discussions between the Corporation and its secured lenders. As a result of the appointment of the Receiver, all of the directors of First Nickel have resigned and Mr. Boehlert has also resigned as President and Chief Executive Officer. All members of management of the Corporation have agreed to remain available to assist the Receiver.

All inquiries about this matter should be directed to the Receiver. Court materials are available on the Receiver's website at www.ksvadvisory.com.

Contacts:
KSV Advisory Inc.
David Sieradzki
VP and Managing Director
416-932-6030
[email protected]
www.ksvadvisory.com

Source: First Nickel Inc.

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