Canada Nickel Company Inc. announced assay results from its Mahaffy, Dargavel, Kingsmill, and MacDiarmid properties, and provided an update on drilling and corporate activities. In addition to completed drill assay results, partial assays have been received to date from 11 holes drilled at the Company's Nesbitt property – these results have also been in line with expectations and will be released when all assays are received. All 20 holes from the regional drill program intersected thick sequences of peridotite and/or dunite with some holes collared in, or ending in, volcanics.

The highest-grade intersection was 0.34% nickel over 28.5 metres in Dargavel hole DAR21-01 (0.30% cutoff) within a larger zone grading 0.30% nickel over 162.0 metres (0.25% cutoff) starting at 375 metres downhole. The thickest interval of mineralization was in Kingsmill drillhole KML21-01 which intersected 0.24% nickel over 334.5 metres starting at 16.5 metres downhole. The overburden encountered was highly variable with as little as 12.5 metres at Nesbitt and as much as 160 metres at Mahaffy.

DEL22-01, collared in the centre of the ultramafic target measuring 1.4 km long by 300 – 500 metres wide, and drilled toward the west contact, intersected mineralized dunite (including some narrow dykes) starting at 1.8 metres downhole. The hole remained in dunite beyond its projected length of 400 metres to 482 metres at the west contact for a total interval of 480 metres. Previously, six holes (FY-02-02, FY-02-06, FY-02-10, FY-02-11, FY-02-12, FY-02-13) were drilled at Deloro by other explorers, inside or on the edge of the ultramafic, with five intersecting serpentinized dunite/peridotite.

Hole FY-02-10 intersected 24.2 metres, FY-02-13 intersected 138.4 metres and four holes ended in serpentinized dunite/peridotite. All five holes noted magnetite (up to 20-25% magnetite in FY-02-02 from 39.4-89.5 metres) and disseminated sulphides. Only specific non-consecutive intervals were assayed.

Two of the four holes had nickel mineralization exceeding 0.40% nickel: FY02-02 with 0.42% nickel over 4.2 metres, with up to 0.73 g/t Pd and 0.23 g/t Pt over 1.2 metres, and FY-02-10 intersecting 0.48% nickel, 0.28 g/t Pd, and 0.14 g/t Pt over 2.8 metres.