Royal Nickel Announces Successful Financings for West Raglan and Aer-Kidd Exploration Ni-Cu-PGE Properties

Press Release

Toronto, Ontario, October 14, 2014 – Royal Nickel Corporation (“RNC”) (TSX: RNX) is pleased to announce that two private companies in which RNC has an interest – True North Nickel Inc. (“TNN”), 100%-owner of the West Raglan Nickel Project (“West Raglan”), and Sudbury Platinum Corp. (“SPC”), 100%-owner of the Aer-Kidd Project (“Aer-Kidd”) – have successfully raised CDN$0.8 million and CDN$2 million, respectively.

“I believe it speaks to the quality of the exploration opportunities that both exploration properties at West Raglan and Aer-Kidd have been able to raise new funding in difficult market conditions. At West Raglan, we will now focus our efforts on deploying the funds with a goal of extending known mineralized lenses and discovering new lenses from targets that will be generated from remodeling existing data and the addition of new data from a modern airborne geophysical survey using the latest Versatile Time-Domain Electromagnetic (“VTEM”) technology. This new VTEM survey will increase targeting efficiency in certain highly prospective areas compared to the existing airborne geophysical database which is 10 years old. Increased geophysical resolution has the potential to add significant value to the property as several of the mineralized lenses previously discovered by drilling at moderate depth, for example hole TR-12-001 that yielded 1.96% Ni, 0.7% Cu and 1.4 g/t PGE over 14.5 metres, had muted geophysical signatures which should be better resolved with the modern higher-power geophysical system.” said Mark Selby, President and CEO of RNC.

Mr. Selby continued, “With the recent completion of SPC’s CDN$2 million private placement, we expect to see the rapid implementation of the planned drill program at Aer-Kidd that is designed to test the highly prospective targets identified by the SPC team and should yield drilling results near-term.”

The financing completed by TNN was provided by its shareholders, RNC (as to 56%) and Dundee Resources Limited (as to 44%). The funding to TNN will primarily be used to advance the exploration program at West Raglan, located in Northern Quebec, in preparation for an anticipated drilling program in 2015.

The funding currently in place for TNN is expected to cover planned exploration activities at West Raglan including conducting an airborne geophysical survey this fall which, in addition to existing geophysical data, will assist in increasing the efficiency of TNN’s exploration program by better defining drilling targets in areas of high interest. An airborne time-domain electromagnetic geophysical survey using Geotech Limited’s deep penetrating helicopter-borne VTEM system will be flown over the most prospective portions of West Raglan. The survey will use the latest version of the VTEM system (Bfield-VTEM Plus) and will consist of approximately 1400 line-kilometres of surveying over areas totaling approximately 110 square kilometres. Surveying is planned to begin on or about October 14, 2014 and is expected to take approximately 2 weeks to complete. The survey will yield increased depth penetration to help define the depth extension of known mineralized lenses at West Raglan and generate new high-quality drilling targets for follow-up in the summer of 2015.

The financing completed by SPC provides SPC with funding necessary to advance exploration activities and rapidly commence a drill program at its Aer-Kidd project in the Sudbury Basin of Ontario. As planned, RNC did not participate in this round of financing and now owns approximately 19% of SPC after the financing. RNC retains its pro-rata right to participate in future equity financings until October 14, 2015, provided RNC holds at least a 10% equity position in SPC. The 2014 drill program will consist of 4,500m designed to test high-conductance electromagnetic targets identified on the Aer-Kidd Property located beneath sites of historic past production at depths between 750-1,200m, as shown in figure 1 below. In addition to drilling, other activities will include hole cleaning and resurveying of three historic boreholes aimed at further evaluating the potential down-plunge of the past producing Robinson and Rosen Mines as well as the Howland pit.

Read More: http://www.royalnickel.com/_admin/_media/20141012-2014-TNNSPC-news-releaseFINAL.pdf

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