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Nearctic Nickel Mines Inc.: UMEI Appeal of Res Judicata Decision Fails

MONTREAL, QUEBEC - (Marketwire - July 18, 2008) - Nearctic Nickel Mines Inc. (the "Corporation") (PINK SHEETS:NNMIF) announces that a three judge panel of the Quebec Court of Appeal has decided that the decision of Judge Helene Langlois JSC, dismissing Ungava Mineral Exploration Inc's (UMEI) Amended and Particularized Motion to Institute Proceedings as against Glen Mullan and Bruce Durham, be upheld. The Decision will be studied by counsel to determine whether an appeal will be pursued. Last year the Corporation transferred UMEI to Ungava Mines Inc. (OTCBB:UGVMF), its subsidiary. This litigation was referred to in the Corporation's press release of September 25, 2007.

Caution Concerning Forward-Looking Statements

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although Nearctic Nickel Mines Inc. believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as may be required by applicable securities laws, Nearctic Nickel Mines Inc. disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.

Issued and Outstanding: 28,363,276 Common Shares

(905) 274-3164

Copyright © 2009, MarketWire Canada
Copyright © 2009, NewsBlaze, Daily News

Tags: ,Manufacturing and Production,Mining and Metals,LAW/LEGAL ISSUES

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