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Royal Nickel Corporation Announces Closing of $4,525,074 Financing

TORONTO, Dec. 31 /CNW/ - Royal Nickel Corporation (the "Company") is pleased to announce the completion of a brokered private placement led by Sandfire Securities Inc. ("Sandfire"). A total of 2,011,144 units ("Units") at a price of $2.25 per Unit were sold for gross proceeds of $4,525,074 whereby the MineralFields Group subscribed for 622,222 Units. Each Unit consists of one flow-through common share and one-half of one non flow-through common share purchase warrant. Each whole warrant will be exercisable into one common share for two years from the closing date at an exercise price of $3.00.

About Royal Nickel Corporation

Royal Nickel Corporation is a private nickel development company which owns 100% of the Dumont nickel sulphide deposit in the Val D'Or/Amos mining region of Quebec. For more information about Royal Nickel Corporation please visit our website at: http://www.royalnickel.com.

For further information: Walter Henry, CFO of Royal Nickel Corporation at (416) 363-0649