Mr. Rick Mark of North American Nickel reports

NORTH AMERICAN NICKEL INC.: DISCOVERY OF NEW NICKEL SULPHIDE MINERALIZED INTRUSIONS AT MANIITSOQ

North American Nickel Inc. and VMS Ventures Inc.'s recent drill core assay results have confirmed the discovery of significant nickel, copper, cobalt and precious metal (platinum plus palladium plus gold) mineralized intrusions outside of the high-grade Imiak Hill conduit complex in the company's regional exploration drilling in the 75-kilometre-long Greenland norite belt. VMS Ventures owns approximately 23.9 per cent of North American Nickel. Assay results include 6.51 metres of 0.44 per cent nickel and 0.20 per cent copper, including 0.73 metre of 2.35 per cent Ni and 1.21 per cent Cu. The new discovery area is located approximately 18 kilometres south of the Imiak Hill conduit complex.

The newly discovered intrusions, though poorly exposed, were identified during a 2013 site inspection of a cluster of three VTEM conductors collectively known as the P-13 target. Small exposures of rusty, gossanous norite were noted at several locations within the P-13 target area, and three EM conductors were subsequently tested for a total of three holes (MQ-13-032 to -034).

North American Nickel chief executive officer, Rick Mark, stated: "The discovery of new near-surface nickel, copper, cobalt and PGM mineralization at the P-13 target provides more evidence of the district-scale potential of Maniitsoq. These initial near-surface results, coupled with the associated off-hole conductors, are indicative of what we originally saw at the high-grade Imiak Hill conduit complex. It is important to realize that the 2013 prospecting program that confirmed this airborne target was the first of its kind in more than a decade, so there is much more to learn at Maniitsoq outside our primary focus, the Imiak Hill complex. This is the fourth new discovery of nickel sulphide mineralization at Maniitsoq this year and continues the exploration successes of North American Nickel's technical team."

MQ-13-032 tested a 200-metre-long, northeast-striking conductor and intersected a thick section of norite and leucogabbro with four intervals of nickel-copper-cobalt-PGM mineralization as listed in the attached MQ-13-032 significant assays table. The hole was surveyed with a Crone three-component borehole electromagnetic (BHEM) probe, and off-hole responses were detected at each of the four mineralized intervals suggesting the presence of stronger mineralization nearby.

                       MQ-13-032 SIGNIFICANT ASSAYS                                      

                      From m      To m      Core       Ni%      Cu%      Co%
                                          length                           
                                            m (1)                           

Interval 1             69.70     93.44     23.74     0.13     0.03     0.01
Including              91.61     91.90      0.29     1.29     0.24     0.03
Interval 2             99.35    105.86      6.51     0.44     0.20     0.01
Including             101.79    102.52      0.73     2.35     1.21     0.05
Interval 3            137.80    138.24      0.44     1.38     0.45     0.04
Interval 4            150.56    159.22      8.66     0.33     0.09     0.01
Including             157.21    159.22      2.01     0.88     0.22     0.03
Including             157.21    157.67      0.46     2.20     0.70     0.07

                     Pt g/t   Pd g/t   Au g/t      TPM        S%
                                                g/t (2)

Interval 1             0.01     0.00     0.00     0.01     0.53
Including              0.11     0.04     0.02     0.17     5.87
Interval 2             0.09     0.01     0.01     0.11     1.92
Including              0.68     0.06     0.03     0.77     9.71
Interval 3             0.16     0.05     0.01     0.22     6.78
Interval 4             0.03     0.00     0.00     0.03     1.63
Including              0.07     0.02     0.00     0.09     4.45
Including              0.18     0.06     0.02     0.26    12.30
                      
m: metres
%: per cent
g/t: grams per tonne                     
(1) Core length is length along the hole not true thickness.                
(2) TPM is total precious metals (gold plus platinium plus 
palladium).                

At the completion of drilling, the hole was surveyed with a Crone three-component EM probe. Final results of the survey are pending, but preliminary interpretation indicates off-hole anomalies associated with all four of the mineralized intervals, suggesting the presence of stronger mineralization nearby.

The polymetallic nature of the mineralization in MQ-13-032 is consistent with that documented from the Imiak Hill conduit complex and underscores the significance of the association of off-hole BHEM responses with the mineralization. These off-hole responses will be followed up in 2014.

MQ-13-033 tested a much weaker, short strike length VTEM anomaly located 200 metres west of MQ-13-032. The hole intersected non-mineralized granite and granodiorite gneiss. No conductive material was encountered, and an EM survey of the hole did not detect any in- or off-hole conductors. However, a number of large decomposed rusty to gossanous norite boulders and blocks are strewn about this area.

MQ-13-034 tested a weak, short strike length VTEM anomaly located 275 metres southeast of MQ-13-032 and intersected 41 metres of norite with local weak disseminated sulphide mineralization. Significant assay results are listed in the attached MQ-13-034 significant assays table. The best assay was 1.10 metres at 0.65 per cent Ni, 0.15 per cent Cu and 0.13 g/t total precious metals. A downhole BHEM geophysical survey could not be performed in the hole due to persistent caving.

                      MQ-13-034 SIGNIFICANT ASSAYS                                      

                      From m      To m      Core       Ni%      Cu%      Co%
                                          length                           
                                            m (1)                           

Interval 1             73.50     76.22      2.72     0.16     0.07     0.00
Interval 2             82.00     84.50      2.50     0.38     0.14     0.01
Including              83.40     84.50      1.10     0.65     0.15     0.02
                                      
                     Pt g/t   Pd g/t   Au g/t      TPM        S%
                                                g/t (2)


Interval 1             0.02     0.02     0.03     0.07     0.59
Interval 2             0.04     0.03     0.03     0.10     1.67
Including              0.06     0.04     0.03     0.13     2.83

m: metres
%: per cent
g/t: grams per tonne                      
(1) Core length is length along the hole not true thickness.                 
(2) TPM is total precious metals (gold plus platinium
plus palladium).
Hole MQ-13-034 was not surveyed due to bad ground 
conditions in the hole.

Assay results have also been received for holes MQ-13-030 and MQ-13-031, located approximately 21.8 kilometres northeast of target area P-13. The two holes tested VTEM target P-49 situated nine kilometres east of the Imiak Hill conduit complex. Neither hole intersected any significant nickel mineralization.

The 2013 drill program at Maniitsoq is now complete, and planning for next year has commenced. The focus in 2014 will be to expand the numerous high-grade mineralized zones within the Imiak Hill conduit complex (see press releases dated Oct. 10 and 23 and Nov. 7 for details on these zones), to follow up new discoveries elsewhere in the GLB (such as P-13) and to continue testing high-priority VTEM targets throughout the Maniitsoq project area.

Drill logs and additional maps are available on the company's website.

Drill core assay results are evaluated as part of a quality assurance and quality control procedure that includes the use of multielement, certified standards with known precious and base metal values, blank standards, and control charts to determine accuracy and precision of analytical results. Core sample analysis was completed by ALS Scandinavia AS of Ojebyn, Sweden. Three methods of analysis were used to determine element concentrations in the rock samples submitted to ALS. These were: (1) a multielement scan, subsequent to a four-acid digestion and ICP/ICP-AES finish; (2) gold, platinum and palladium lead fire assay on a 30-gram sample with ICP-AES finish; and (3) samples with greater than 1.00 per cent Ni or Cu were re-analyzed by ICP-AES calibrated for ore grade detection limits. Samples with greater than 0.50 per cent sulphur were reanalyzed by Leco furnace and infrared spectroscopy.

The Maniitsoq nickel-copper-cobalt and PGM project in southwest Greenland contains the 75-kilometre-long Greenland norite belt and is 100 per cent owned by North American Nickel.

Qualified person

All technical information in this release has been reviewed by Dr. Mark Fedikow, PGeo, who is the qualified person for the company and president, North American Nickel.