First Nickel Inc. reported earnings results for the first quarter ended March 31, 2012. For the quarter, the company reported operating loss before taxes of CAD 2,436,124 against CAD 2,798,209 for the same period last year. Net loss and comprehensive loss for the period was CAD 2,498,408 or CAD 0.01 per basic and diluted share against CAD 2,798,209 or CAD 0.01 per basic and diluted share for the same period last year. During the first quarter of 2012, exploration expenditures totaled CAD 659,487 with one drill active on the Belmont Property. The company provided production guidance for the fourth quarter of 2012. The company expects the mine to be near or at full production of 10.0 million pounds of nickel and 7.0 million pounds of copper per annum in the fourth quarter of 2012.