Independent Nickel Advises Shareholders to Take No Action in Response to Victory Nickel’s Unsolicited Takeover Bid

SUDBURY, ONTARIO–(EMWNews – Aug. 19, 2008) – Independent Nickel Corp. (TSX:INI) (“Independent Nickel”) today announced that its Board of Directors advises shareholders to take no action in response to an unsolicited takeover bid dated August 19, 2008 made by Victory Nickel Inc. (“Victory”) for all of the outstanding common shares of Independent Nickel on the basis of one (1) Victory common share for each one (1) common share of Independent Nickel.

The Board of Directors will be forming a special committee of independent directors to evaluate the unsolicited bid. The special committee, together with its advisors, will consider the adequacy of the Victory offer, the full range of alternatives to maximize value for Independent Nickel shareholders and make recommendations to the Board. It will have oversight of the process of reviewing and responding to the unsolicited bid. The Board of Directors expects to make a formal recommendation to its shareholders regarding the Victory offer on or before September 3, 2008.

Until the Board provides a formal response to the unsolicited bid, shareholders are advised to take no action.

About Independent Nickel Corp.

Independent Nickel owns 100% of the Lynn Lake Nickel Mine, located in Lynn Lake, Manitoba. The Company also owns a Net Smelter Return Royalty (“NSR”) on Victory Nickel Inc.’s Minago Nickel Property, also located in Northern Manitoba. The NSR pays the Company 3% of all mineral product value when nickel prices exceed US$6/lb.

This document may contain forward-looking statements relating to Independent Nickel Corp.’s (INI) operations or to the environment in which it operates. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and may be beyond INI’s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth in other public filings. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not be placed on such forward-looking statements. INI disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.