TORONTO, ONTARIO--(Marketwire - June 19, 2012) - Victory Nickel Inc. ("Victory Nickel" or the "Company") (News - Market indicators) (www.victorynickel.ca) today announced its entry into frac sand distribution and sales with the appointment of Ken Murdock, an industry veteran with more than 25 years of experience in the frac sand and industrial mineral industries, as Chief Executive Officer of Victory Silica Ltd. ("VSL"), a wholly owned subsidiary.
The Company, through VSL headed up by Mr. Murdock, will establish Victory Nickel as a supplier of premium frac sand prior to commencing frac sand sales from its 100%-owned Minago mine in Manitoba. Sulphide nickel mineralization in the proposed open pit at Minago is overlain by approximately 15 million tonnes of sandstone which must be removed prior to mining the nickel deposit; of this, approximately 11 million tonnes meets API standards for frac sand of various grades. The potential for more than 100 million tonnes of frac sand exists on properties adjacent to the Minago open pit outline.
"I welcome Ken to the team. With his strong technical and marketing background and contacts within the frac sand and oil field services industries, I am confident Ken will very quickly establish Victory Nickel as an important player in the frac sand business and set the stage for full-scale frac sand production at Minago," said René Galipeau, Vice-Chairman and C.E.O. of Victory Nickel.
Mr. Murdock has a degree in Environmental Engineering from McGill University, a Civil Engineering degree from the University of Manitoba, and over 25 years of related experience with Lafarge Cement, United Industrial Services Ltd and Canfrac Sands Ltd. Since 2011 he has managed his own firm, I.M.&M. Consulting, where he was involved in building sand plants for third parties. Victory Nickel first worked with Mr. Murdock when he was hired by Wardrop Engineering (a Tetratech Company) to prepare the frac sand portion of the Minago feasibility study that was completed in December 2009. Since this time, Mr. Murdock has worked as a consultant to Victory Nickel and is very familiar with the significant profit potential from frac sand sales at Minago.
About Victory Nickel
Victory Nickel Inc. is a Canadian company with four sulphide nickel deposits containing significant NI 43-101- compliant nickel resources. Victory Nickel is focused on becoming a mid-tier nickel producer by developing its existing properties, Minago, Mel and Lynn Lake in Manitoba, and Lac Rocher in northwestern Québec, and by evaluating opportunities to expand its nickel asset base.
Please visit the Company's website at www.victorynickel.ca. Should you wish to receive Company news via email, please email juliet@chfir.com and specify "Victory Nickel" in the subject line.
Forward-Looking Information: This news release contains forward-looking information. All statements, other than statements of historic fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future constitute forward-looking information. This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: uncertainty of estimates of capital and operating costs, production estimates and estimated economic return; the possibility that actual circumstances will differ from estimates and assumptions; uncertainties relating to the availability and costs of financing needed in the future; failure to establish estimated mineral resources; fluctuations in commodity prices and currency exchange rates; inflation; recoveries being less than those indicated by the testwork carried out to date (there can be no assurance that recoveries in small scale laboratory tests will be duplicated in large tests under on-site conditions or during production); changes in equity markets; operating performance of facilities; environmental and safety risks; delays in obtaining or failure to obtain necessary permits and approvals from government authorities; unavailability of plant, equipment or labour; inability to retain key management and personnel; changes to regulations or policies affecting the Company's activities; the uncertainties involved in interpreting geological data; and the other risks disclosed under the heading "Risk Factors" and elsewhere in the Company's annual information form dated March 30, 2012 filed on SEDAR at www.sedar.com. Forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
