Mr. James Walchuck reports

PACIFIC COAST NICKEL CLOSES PRIVATE PLACEMENT

Pacific Coast Nickel Corp. has closed its non-brokered private placement previously announced in Stockwatch on Dec. 3, 2010. An aggregate of 15 million units were sold at a price of seven cents per unit raising gross proceeds of $1.05-million.

Each unit consisted of one common share of the company and one share purchase warrant. Each warrant entitles the holder thereof to purchase one common share of the company for a period of two years from the closing of the financing at a price of 10 cents per share. All of the securities issued under this placement are subject to a hold period expiring on May 7, 2011.

Finder's fees of $56,700 payable in cash and 818,000 warrants were issued to Capital Street Group on portions of the placement.

Proceeds of the placement will be applied to exploration work on the company's Burwash project located in the Yukon Territory and Las Aguilas project located in Argentina and for general working capital purposes.

We seek Safe Harbor.