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May 2009

Pure Nickel Update. May 2009.

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May 2009

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  1. Pure Nickel Update May 2009

  2. This document contains forward looking statements concerning future revenues and expenses, results of operations, and environmental factors that are in some cases considered forward-looking statements. These statements are based on numerous assumptions including commodity prices, exploration results, resource availability, and other assumptions that management believes are reasonable based on currently available information, however management’s assumptions and the Company’s future performance are subject to a wide range of business risks and there is no assurance that these goals and projections can or will be met. This document does not constitute an Offering Memorandum and as such is not intended to solicit funds. The MAN Alliance ITOCHU’S Investment in the Future

  3. Today’s Discussion • Pure Nickel Today • Who is ITOCHU? • The MAN Partnership • What is MAN? • High Level MAN Program • Hunting for Elephants • Fond du Lac • Why Pure Nickel? Why now? The MAN Alliance ITOCHU’S Investment in the Future

  4. Pure Nickel Today • NIC (TSX); PNCKF (OTCBB) • Shares Outstanding: 67.8M 75.5 M (fully diluted) • Market Cap: $11.5 Million • Cash: $7.2M • 52 week Hi / Lo: $0.34 - $0.025 The MAN Alliance ITOCHU’S Investment in the Future

  5. PNI Today The MAN Alliance ITOCHU’S Investment in the Future Best geological setting for commercial discovery.

  6. Pure Nickel - Properties MAN Alaska 12 North American Properties 2 Premier Areas 5 Joint Ventured Properties POV and Nuvilik -Minergy Limited Manibridge - Crowflight Minerals HPM Forgues - Manicouagan Minerals Tower Zone - Rockcliff Resources Inc. The MAN Alliance ITOCHU’S Investment in the Future Thompson Belt 5 Other Active Projects

  7. 2009 Goals and Strategy • Priority focus on the MAN project. • Assess funding of other projects using criteria of creating shareholder value. • Seek new joint venture opportunities. • Nurture existing JV relationships. The MAN Alliance ITOCHU’S Investment in the Future

  8. Who is ITOCHU? • Large Japanese Conglomerate • 7 Major Operating Divisions • 2008 Financial Highlights: Total Revenue: $131.6 billion US Net Income: $ 2.32 billion US Total Assets $ 55.7 billion US Shareholder’s Equity $ 10.4 billion US ROE 23.3% The MAN Alliance ITOCHU’S Investment in the Future

  9. The MAN Partnership • $40,000,000 in development investment over 7 years. • Option to earn up to a 75% interest. • Firm commitment to fund 2008 and 2009 exploration expenses to a total of $6.5 million. • Option to earn a 60% interest by investing an additional $23.5 million over 4 years. • Option to earn a 75% interest by investing $10 million in the 7th year. • PNI operates - 10% Management Fee. The MAN Alliance ITOCHU’S Investment in the Future

  10. What is MAN? • Large project footprint , over 72,000 hectares of state and federal claims. • 100% Company owned. • Widespread high-grade nickel-copper-platinum group element showings up to 15.4% Ni, 7.19% Cu, 170 g/t PGE+ Au+Ag. • Excellent infrastructure; accessible from the Richardson and Denali highways, lodges and borders the Alaska Pipeline. • Four major Triassic ultramafic-mafic intrusive complexes host Ni-Cu-PGE mineralization • A potential nickel camp with possibility for multiple mines.

  11. The MAN Alliance ITOCHU’S Investment in the Future

  12. Aeromagnetics of Survey Area Rainy Creek Complex Canwell Complex Alpha Complex The MAN Alliance ITOCHU’S Investment in the Future Beta Complex

  13. MAN Samples (Massive Sulphides) Alpha (XXX) 5.9% Ni 3.1% Cu 1.5 g/t PGE Glacier L. 5.3% Ni 1.3% Cu 3.0 g/t PGE The MAN Alliance ITOCHU’S Investment in the Future Miller Ck. 6.2% Ni 0.3% Cu 5.0 g/t PGE Canwell 13.6% Ni 2.9% Cu 26.0 g/t PGE

  14. The MAN Alliance ITOCHU’S Investment in the Future

  15. High Level MAN Program for 2009 • 2009 Budget US $4.4 million • Significant increase in targeted metreage • High level of geological and geophysical pre-drill work • On the ground mapping exercise • New target interpretations applied

  16. The MAN Alliance ITOCHU’S Investment in the Future “if you are hunting for elephants you have to be in elephant country and know what an elephant looks like”

  17. MAN Project Geological Model Beta Complex Alpha Complex The MAN Alliance ITOCHU’S Investment in the Future

  18. Talnakh District Russia (Noril’sk) mines The MAN Alliance ITOCHU’S Investment in the Future

  19. The MAN Alliance ITOCHU’S Investment in the Future

  20. Noril’sk & MAN – Amazingly Similar The MAN Alliance ITOCHU’S Investment in the Future

  21. Voisey’s Bay Ni-Cu Camp The MAN Alliance ITOCHU’S Investment in the Future

  22. The MAN Alliance ITOCHU’S Investment in the Future

  23. VOISEY'S BAY VALUATION Known Reserves:     141,000,000 tonnes Grade 1.60% Ni Nickel 4,512,000,000 lbs Gross Valuation      Assume $5.00 per lb US Gross Value $ 22,560,000,000   Value after 25% dilution (Mining & Beneficiation) $ 16,920,000,000 • Capital investment for project over 30-year period: $2.9 billion. • Sold to Inco in 1996 for $4.5 Billion Cdn ( Nickel was less than $4.00/lb.) The MAN Alliance ITOCHU’S Investment in the Future

  24. Size Comparison of Major Nickel Camps Voiseys Bay Ni-Cu ore Talnakh District

  25. Fond du Lac • Test of a new technology, ZTEM, has identified a new anomaly on Fond du Lac claims • ZTEM allows to look deeper, up to 2000 metres • New anomaly is in a high grade area • Untested by previous drill programs The MAN Alliance ITOCHU’S Investment in the Future

  26. Fond du Lac ZTEM Survey – New Target & Insights 360 Hz IP-PRG TF Magnetics TF Magnetics 360 Hz IP-PRG

  27. The MAN Alliance ITOCHU’S Investment in the Future 90 Hz IP-PRG 45 Hz IP-PRG

  28. Why Pure Nickel? Why now? • Solid balance sheet, well able to sustain operations for several years. • Unique, early opportunity to participate in the potential development of a major nickel camp. • Strong relations with established, major partners prepared to fund major project. • Diversified portfolio of exploration properties • Significant risk reward opportunity. The MAN Alliance ITOCHU’S Investment in the Future

  29. Questions?

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