First Nickel Inc. announced the discontinuation of underground ramp development at its Lockerby nickel/copper mine, located in the Sudbury basin in Ontario. Considering low nickel prices and production levels of the Lockerby mine, the company has evaluated a range of options from continuing the current operating plan at Lockerby to discontinuing ramp development and mining only the ore remaining on and above the 6,800-foot level. Primarily as a result of continued weakness in nickel prices, the Company has decided to discontinue ramp development at this time.

The remaining economic ore on and above the 6,800-foot level is expected to be mined out in the third quarter of 2015, at which time the mine will either be put on care and maintenance or closed. The accounting implications of this change will be reflected in the Company's interim financial statements for the second quarter of 2015, which will be filed in early August.