Mr. David Fitch reports

CLASS 1 NICKEL AND TECHNOLOGIES LTD. ANNOUNCES PRIVATE PLACEMENT

Class 1 Nickel and Technologies Ltd. proposes to complete a non-brokered private placement pursuant to which it will issue convertible debentures in the aggregate principal amount of up to $400,000. The debentures shall have a three-year term and bear an interest rate of 2 per cent per annum. The principal amount owing under the debentures shall be convertible at the option of the holder thereof into common shares of the company (subject shares) at a deemed price of five cents per subject share, all in accordance with the terms and conditions of the certificates evidencing the debentures. Insiders of the company may purchase up to 100 per cent of the debentures in the private placement. The private placement remains subject to the approval of the Canadian Securities Exchange.

About Class 1 Nickel and Technologies Ltd.

Class 1 Nickel is a mineral resource company focused on the development of its 100-per-cent-owned Alexo-Dundonald property, a portfolio of komatiite-hosted magmatic nickel-copper-cobalt sulphide mineral resources located near the city of Timmins, Ont. The corporation also owns the Somanike komatiite-hosted nickel-copper sulphide property in Quebec, which includes the famous Marbridge nickel mine, as well as additional property interests.

We seek Safe Harbor.