Photo Release -- Pure Nickel Inc. Confirms Extensive Ni-Cu-Co-PGE Mineralization on the MAN Property, Alaska

Photo Release -- Pure Nickel Inc. Confirms Extensive Ni-Cu-Co-PGE
Mineralization on the MAN Property, Alaska

Highlights:

  *Drill holes encounter broad intervals of Nickel (Ni) – Copper (Cu) –
    Cobalt (Co) – Gold (Au) – Silver (Ag) – Platinum (Pt) – Palladium (Pd)
    mineralization in the Alpha mafic-ultramafic complex
  *Drill results, coupled with previous work, define what is now interpreted
    as a continuous zone of disseminated sulphide mineralization - the Eureka
    Zone - extending a minimum of 15 km along strike in the Alpha Complex
  *The Eureka Zone potentially represents a very large magmatic sulphide
    deposit with similarities to the Dumont project of Royal Nickel
    Corporation

The MAN project

TORONTO, Oct. 29, 2013 (GLOBE NEWSWIRE) -- Pure Nickel Inc. (TSX-V:NIC) is
pleased to announce results for the 2013 summer field program at its MAN
property in south central Alaska. The MAN property is the subject of a joint
venture agreement with ITOCHU Corporation of Tokyo, Japan. ITOCHU currently
holds a 30% interest in the MAN property, and can earn up to a 75% interest by
funding a total of US$ 40 million in exploration.

A photo accompanying this release is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=21872

To view an enhanced image of the MAN Project, please visit:
http://orders.newsfilecorp.com/files/1014/7201_purenickelenhanced.jpg

The 2013 field program on the MAN property was completed between May 29^th and
August 28^th. The program included an eight hole, 2,991 meter drill program
primarily targeting the Eureka Zone in the central part of the Alpha Complex,
as well as prospecting and mapping work in various parts of the property.

The 2013 drill program successfully intersected the Eureka Zone, first
recognized in 2012 (see press releases January 23, 2013 and May 23, 2013), in
six of the seven holes that were targeted, with one hole being abandoned in a
fault zone. An eighth hole, PNI-13-70, targeted coincident Induced
Polarization (IP) and soil geochemical anomalies to the south of the Eureka
Zone.

The drill results confirm the presence of what is now interpreted as a
continuous zone of magmatic sulphide mineralization containing elevated
concentrations of Ni, Cu, Co, Au, Ag, Pt and Pd. Estimated true widths of
intersection for 2013 drill holes cutting the Eureka Zone in the central Alpha
segment range from 120 m to 250 m. Composite intersection grades across the
mineralized zone in the drill holes range from 123 ppb to 212 ppb Au+Pt+Pd,
0.05-0.16% Cu, and 0.17-0.24% Ni. The mineralization also includes minor Ag
and Co. Higher grade mineralization over narrower widths is present in most of
the holes. 2013 drill results are summarized in Table 1, and collar locations
are indicated on the accompanying map. For ease of comparison to other
occurrences, metal values are also reported as in situ Ni Equivalent (Ni EQ.)
%. Metal prices used in metal equivalent calculations were derived from metal
price forecasts (see note 3 in Table 1 for prices) reported in various
recently published Preliminary Economic Assessments and Feasibility studies
for other deposits. The reader is warned that use of metal equivalent values
requires assumptions regarding metal prices that are subject to change.

Table 1. Summary of intersections for 2013 drilling on the MAN project.

                         ^2Estimated                                         ^
Drill Hole   From  To    True Width  Au    Pt    Pd    Co    Cu   Ni   Ag    3Ni
             (m)   (m)   (m)         (ppb) (ppb) (ppb) (%)   (%)  (%)  (g/t) EQ.
                                                                             (%)
PNI-13-068   Abandoned in Fault Zone                                  
^1PNI-13-069 160.3 373.7 205.2       19    61    122   0.017 0.09 0.24 0.72  0.34
PNI-13-070   No Significant                                           
             Intersections
PNI-13-071   99.4  247.0 146.8       14    46    76    0.015 0.08 0.17 0.57  0.25
And          328.0 342.7 14.6        21    64    127   0.016 0.16 0.19 1.19  0.31
PNI-13-072   217.0 432.5 162.6       13    49    104   0.017 0.08 0.20 0.45  0.29
^1PNI-13-073 245.5 376.7 130.5       16    52    118   0.016 0.07 0.22 0.36  0.30
^1PNI-13-074 198.0 453.2 253.9       11    38    91    0.016 0.06 0.20 0.34  0.27
^1PNI-13-075 73.0  116.7 43.4        11    46    105   0.016 0.06 0.23 0.34  0.30
And          254.0 377.0 122.4       11    33    80    0.015 0.05 0.17 0.18  0.23
                                                                  
^1Incomplete Intersection of zone
^2True width estimated from hole angle and average dip of mineralization (46˚)
^3Calculated using metal prices of US$ 1500/oz for Au,US$ 1500/oz for Pt,US$
700/oz for Pd,US$ 14/lb for Co,US$ 3.5/lb for Cu, US$ 9/lb for Ni and US$ 20/oz
for Ag
m=meters, ppb = parts per billion, g/t = grams per tonne

The Eureka Zone extends over a minimum strike length of 15 km as defined by
drilling and mapping. Prior years' drilling in the zone has encountered
intersections ranging up to 320 m estimated true thickness, with metal grades
for complete intersections ranging up to 0.36 Ni EQ. %. Results for previous
drill holes that have encountered the zone are summarized in Table 2, and
shown on the accompanying map. Given that the Alpha Complex as a whole
stretches for more than 30 km along strike it is likely that additional work
could extend the Eureka Zone even further than the 15 km strike now known.

Table 2. Summary of intersections for prior drill holes in the Eureka Zone.

                          ^2Estimated                                         ^
Drill Hole    From  To    True Width  Au    Pt    Pd    Co    Cu   Ni   Ag    3Ni
              (m)   (m)   (m)         (ppb) (ppb) (ppb) (%)   (%)  (%)  (g/t) EQ.
                                                                              (%)
^1,4MAN05-01A 35.0  136.8 99.9        23    79    49    0.017 0.08 0.25 N/A   0.34
^1PNI-07-002  100.6 388.0 246.4       11    54    37    0.016 0.02 0.21 0.20  0.26
^1,4FL-004    108.8 242.6 114.7       24    52    35    0.015 0.05 0.20 0.00  0.26
PNI-10-028    201.0 488.4 226.4       10    38    82    0.016 0.07 0.21 0.41  0.28
PNI-10-029    172.1 399.0 211.8       6     34    77    0.015 0.04 0.21 0.36  0.27
PNI-10-030    377.7 729.5 284.6       11    39    74    0.016 0.06 0.20 0.44  0.28
^1PNI-10-033  210.2 496.0 231.2       20    36    62    0.017 0.05 0.21 0.37  0.27
^1PNI-10-035  192.4 471.0 224.6       8     39    81    0.017 0.06 0.23 0.40  0.30
^1PNI-12-063  146.6 241.7 94.8        31    97    156   0.018 0.15 0.24 1.11  0.37
^1PNI-07-001  397.5 659.0 211.6       10    50    114   0.018 0.08 0.24 0.56  0.33
^1PNI-10-036  163.2 559.9 319.7       13    54    121   0.018 0.09 0.25 0.59  0.34
^1,4FL-006    185.0 382.8 160.0       14    57    115   0.019 0.09 0.24 N/A   0.34
^1,4FL-003    60.2  393.2 269.4       12    54    117   0.017 0.08 0.21 N/A   0.30
^1,4MAN05-5   Insufficient Sampling
^1,4PNI-09-20 192.5 394.0 200.4       7     N/A   N/A   0.014 0.02 0.24 0.11  0.28
                                                                   
^1Incomplete intersection of the Eureka Zone
^2True width estimated from hole angle and average dip of mineralization (46˚)
^3Calculated using metal prices of US$ 1500/oz for Au,US$ 1500/oz for Pt,US$
700/oz for Pd,US$ 14/lb for Co,US$ 3.5/lb for Cu, US$ 9/lb for Ni and US$ 20/oz
for Ag
^4Not Continuously Sampled
N/A No Assays Reported
m = meters, ppb = parts per billion, g/t = grams per tonne

The thickness, strike length, and continuity of the Eureka Zone indicate that
there is the potential to delineate a very significant tonnage of sulphide
mineralization from which potentially recoverable metals would include Ni, Cu,
Co, PGE, Au and Ag. The metal grades and scale of a potential deposit in the
Eureka Zone may be similar to that of the very large Dumont project of Royal
Nickel Corporation, who recently published a positive feasibility study on the
project. There are currently insufficient drilling data to define a NI 43-101
compliant resource in the Eureka Zone.

Dave McPherson, President and CEO of Pure Nickel Inc. stated, "The results of
our 2013 drilling program confirmed our interpretations regarding the scale
and continuity of the Eureka Zone. We feel that we have made a significant
discovery on the MAN property, and we believe the zone has the potential to
develop into a very large deposit. We look forward to 2014 when we hope to
start the resource delineation process."

Sample Procedures

Drilling diameter was HQ or NQ (47.6 or 63.5 mm). Core was transported from
the drill sites to a processing facility where it was logged and sampled. The
entire holes were sampled, with a standard sample size of 1.5 m, and 0.5m to
1.0m samples in mineralized intervals. The drill core was cut in half by
diamond saw, with half placed in polyethylene sample bags. The remaining half
was returned to the core boxes for storage. Alternating blanks and standards
were inserted in the sample stream at a rate of two blanks and two standards
per 96 unknown samples. The samples were packed in bags and shipped by barge
and truck to Acme Labs or ALS Minerals prep lab facilities in Fairbanks,
where the samples were logged,crushed to 80% passing -10 mesh, and pulverized
to 85% passing -200 mesh (Acme method code R200-250, ALS Minerals method code
Prep-31). Pulps were shipped to Vancouver where they underwent chemical
analysis by 30g Pb-collection Fire Assay with Inductively Coupled Plasma -
Emission Spectrometry (ICP-ES) finish for Pt, Pd and Au (Acme method code 3B,
ALS Minerals method PGM-ICP23), and by 0.25g multi-acid digestion (Aqua
Regia-HF) followed by Inductively Coupled Plasma-Mass Spectrometry (ICP-MS)
analysis of a multi-element package (Acme method code 1EX, ALS Minerals method
code ME-MS61).

Jon Findlay, Ph.D., P.Geo, Pure Nickel's senior geologist, supervised work on
the MAN project, and reviewed the technical content of this press release. Dr.
Findlay is a Qualified Person (QP) for the Man project, as defined by NI
43-101.

About the MAN project

The MAN Nickel (Ni) – Copper (Cu) – Platinum Group Element (PGE) Alaska
property is located at the junction of the Denali and Richardson highways in
south-central Alaska, approximately 250 kilometres southeast of Fairbanks.The
property consists of both state and federal claims, with a total area of
47,208.1 hectares. Five discrete mafic-ultramafic intrusive complexes occur on
the property, the largest of which, the Alpha complex, measures approximately
33 kilometres by 3 kilometres.

About ITOCHU Corporation

Headquartered in Tokyo, Japan, ITOCHU is a publicly listed multi-billion
dollar conglomerate, with a history spanning more than 150 years. The company
operates through 9 offices in Japan and 117 offices overseas. ITOCHU is
engaged in domestic trading, import/export, and overseas trading of various
products such as textiles, machinery, information and communications-related
products, metals and mineral resources, products related to coal, oil and
other energy sources, general merchandise, chemicals, and provisions and food.
The joint venture with Pure Nickel is through ITOCHU's 100% subsidiary held by
Metals & Mineral Resources Division, Metals & Minerals Company.

About Pure Nickel Inc.

Pure Nickel is a mineral exploration company with a diverse collection of
nickel, copper and platinum group element exploration projects in North
America. In 2013 the Company was active at its flagship MAN property in
Alaska, which is fully funded under an option agreement with Itochu
Corporation of Tokyo, Japan. In addition, the Company is awaiting permitting
for a drill program on its 100% owned Salt Chuck property in south-eastern
Alaska.

Forward Looking Statements

Some of the statements contained herein may be forward-looking statements
which involve known and unknown risks and uncertainties. Without limitation,
statements regarding potential mineralization and resources, exploration
results, expectations, plans, and objectives of Pure Nickel are
forward-looking statements that involve various risks. The following are
important factors that could cause Pure Nickel's actual results to differ
materially from those expressed or implied by such forward-looking statements:
changes in the world wide price of mineral commodities, general market
conditions, risks inherent in mineral exploration, risks associated with
development, construction and mining operations, the uncertainty of future
exploration activities and cash flows, and the uncertainty of access to
additional capital. There can be no assurance that forward-looking statements
will prove to be accurate as actual results and future events may differ
materially from those anticipated in such statements. Pure Nickel undertakes
no obligation to update such forward-looking statements if circumstances or
management's estimates or opinions should change. The reader is cautioned not
to place undue reliance on such forward-looking statements.

Neither TSX Exchange nor its Regulation Services Provider (as that term is
defined in policies of the TSX Exchange) accepts responsibility for the
adequacy or accuracy of this release.

The photo is also available at Newscom, www.newscom.com, and via AP
PhotoExpress.

CONTACT: Pure Nickel Inc.
         David McPherson
         T. (416) 644-0066
         info@purenickel.com
         www.purenickel.com
        
         CHF Investor Relations
         Cathy Hume
         T. (416) 868-1079 x 231 
         cathy@chfir.com
         www.chfir.com
 
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