30-hole winter program designed to expand resource, evaluate near-term production potential.

Victory Nickel Inc. today announced that it has intersected significant grades over mineable widths, including 1.11% nickel over 13.67 metres, in an aggressive winter drilling program designed to evaluate near-term production potential at the Mel Project, the Company’s joint venture with CVRD Inco on Manitoba’s Thompson Nickel Belt.

“This program provides further indication of the widespread and continuous nickel mineralization at Mel, and will have a positive impact on the resource which has an average grade of 0.88% nickel,” said Paul Jones, Vice-President, Exploration. “The updated resource model will form part of a comprehensive assessment of the economics of the Mel deposit to evaluate the potential for near-term nickel production, possibly as soon as 2009.”

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