Mr. Sean Stokes of Nuinsco reports

NUINSCO ACQUIRES SECURITIES OF VICTORY NICKEL INC., FILES EARLY WARNING REPORT

Nuinsco Resources Ltd., 80 Richmond St. West, 18th floor, Toronto, Ont., M5H 2A4, has acquired beneficial ownership of 53,799,900 units of securities of Victory Nickel Inc., pursuant to Victory Nickel's previously announced rights offering. Each unit consists of one common share and one common share purchase warrant of Victory Nickel. Nuinsco believes that this shareholding, together with its previous shareholding in Victory Nickel of 13,935,533 common shares, represents approximately 12.24 per cent of the total issued and outstanding common shares based on an aggregate of 553,474,860 common shares issued and outstanding as of the date hereof as disclosed by Victory Nickel. The units were acquired by Nuinsco for 2.4 cents per unit. The aggregate consideration paid by Nuinsco to Victory Nickel for all 53,799,900 units it acquired pursuant to the rights offering was $1,291,197.60.

Each warrant entitles the holder thereof to purchase one common share at an exercise price of 3.5 cents per common share during the 12-month period beginning at 9 a.m. on July 31, 2014, and ending at 4 p.m. on July 31, 2015. In the event that the 53,799,900 warrants held by Nuinsco are exercised in their entirety on the terms thereof, this exercise would result in Nuinsco holding approximately 20.01 per cent of the issued and outstanding common shares of Victory Nickel (without taking into account any possible exercise of any other warrants or other securities convertible into common shares which may have been issued by Victory Nickel to third parties).

Nuinsco has acquired the units, including the common shares, for investment purposes. Nuinsco's interest in Victory Nickel may be increased or decreased in the future in light of investment criteria, market conditions and other factors in accordance with the provisions of applicable securities legislation. Additionally, pursuant to the terms of a previously announced amended and restated loan agreement between Victory Nickel and Nuinsco, Nuinsco expects to, in the future, acquire additional common shares in satisfaction of Victory Nickel's obligation to pay certain fees to Nuinsco subject to, and calculated and issued according to, the rules of the Toronto Stock Exchange. The loan agreement has been filed on Nuinsco and Victory Nickel's profiles on SEDAR.

Nuinsco has filed an early warning report with the British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Quebec securities commissions in respect of the acquisition of the right to securities. Copies of the report may be obtained from SEDAR or through contacting the company.