Thursday, 1 March 2012

ITOCHU Stays In The Game At Pure Nickel's MAN Alaska Project

Pure Nickel
Basic Shares:67.8 million
Fully Diluted:75.5


The mystery of buried treasures that may lie under the surface at MAN, Alaska show enough promise that Pure Nickel's partner ITOCHU has again opened its wallet to fund exploration for a fifth season.

The exploration and work budget for 2012 at MAN is just shy of US$5 million. It is completely funded by Pure Nickel's partner, which to date has earned a 30% working interest for its past funding of US$17 million over the last four years.

ITOCHU corporation of Tokyo can earn 75% in MAN by spending US$40 million by the end of 2014.

Pure Nickel also announced today that industry veteran, Dr. Jonathan Findlay will be heading up the exploration at MAN and will be the head liaison with ITOCHU. Dr. Findlay has over 20 years of field experience in nickel, copper and platinum group element exploration.

Details of the full exploration program are being worked out and will be released some time in early spring.

See full news release here...