TORONTO, May 7, 2013 (GLOBE NEWSWIRE) -- Pure Nickel Inc. (TSX:NIC) provides additional information on today's TSX bulletin initiating a review of Pure Nickel with respect to continued listing criteria. Currently Pure Nickel meets all criteria save for the market capitalization requirement. Pure Nickel has been granted 120 days to comply with all requirements for continued listing and the Company anticipates that it can demonstrate that it can meet the TSX criteria.
Pure Nickel continues to be in a strong financial and operational position. The company currently has $1.6 million in cash and working capital of $2.6 million. Drilling is scheduled to commence at the MAN Alaska property in June. The program's budget of US$3.5 million is fully funded by Pure Nickel's partner, ITOCHU Corporation of Japan.
About Pure Nickel Inc.
Pure Nickel is a TSX listed mineral exploration company in the business of acquiring, exploring and developing mineral properties in Canada and the United States, primarily those containing nickel, platinum group elements (PGEs), copper, gold, silver and associated base and precious metals. Our intention is to explore undeveloped properties with the expectation of developing them to a level where an ore body is indicated or likely. The Company is currently active on its two Alaskan properties, MAN and Salt Chuck.
CONTACT: CHF Investor Relations Cathy Hume T. (416) 868-1079 x 231 firstname.lastname@example.org www.chfir.com The Howard Group Jeff Walker T. (888) 221-0915 email@example.com www.howardgroupinc.com Pure Nickel Inc. David McPherson T. (416) 644-0066 firstname.lastname@example.org www.purenickel.comSource:Pure Nickel Inc.