Pure Nickel Reports Results for the Nine Months Ended August 31, 2009

TORONTO, ONTARIO, Oct 08 (MARKET WIRE) --
Pure Nickel Inc. (TSX: NIC)(OTCBB: PNCKF) reported its results for the
nine months ended August 31, 2009. The company reported that results were
on track with its expectations, and that the company held cash, cash
equivalents and short-term investments of $7.4 million at August 31,
2009. Pure Nickel reported a net loss of $0.1 million for the three
months ended August 31, 2009, compared to a net loss of $1.1 million for
the three months ended August 31, 2008. The company reported a net loss
of $0.9 million for the nine months ended August 31, 2009, compared to a
net loss of $2.3 million for the nine months ended August 31, 2008. Pure
Nickel's consolidated financial statements for the quarter and the
accompanying management discussion and analysis are available on the
company's website at www.purenickel.com, on EDGAR at
www.sec.gov/edgar.shtml and on SEDAR at www.sedar.com. (All dollar
amounts herein are in Canadian funds unless otherwise indicated.)

Q3 operating highlights

MAN, Alaska

With its project partner, ITOCHU Corporation, the company continued its
planned exploration program for the MAN project in Alaska. Extensive
ground electromagnetic and walk magnetic surveys coupled with a Z-TEM
(Z-Axis Tipper Electromagnetic system) survey and ongoing bore-hole
electromagnetic surveys were completed and utilized in the drill target
selection process. The program ran until late September, and the company
is currently awaiting assay results of samples collected throughout the
program. Dr. Larry Hulbert, P. Geol. is the designated Qualified Person
(Q.P.) for the MAN project.

SR1, Quebec

During July 2009, a helicopter-supported team field-checked anomalies and
anomaly trends identified by the 1100 line km VTEM survey which was
completed in 2008. Several occurrences of disseminated sulphide
mineralization were discovered in and near mafic intrusives and one
previously unmapped area of frost heave tentatively interpreted to be
ultramafic. Multi-element ICP (inductively-coupled plasma emission
spectrometry) analyses by ALS Chemex have been received on the 141 grab
samples from sites with either visible sulphides or a rusty appearance.
Nickel ranged from 500 to 2000 ppm in 18 of the samples, copper from 1000
to 19300 ppm (1.93%) in 17 samples and cobalt from 75 to 175 ppm in 18
samples. Selected samples, including several from mineralization
discovered by Falconbridge (now Xstrata) near the northwest end of the
property, returned up to 0.061 ppm platinum and 0.199 ppm palladium. Mr.
Dallas Davis, P. Eng. is the designated Qualified Person (Q.P) for the
SR1 Project.

Western Utah Copper Company property

Pure Nickel has an agreement to receive certain royalties for production
at the Western Utah Copper Company (WUCC) property, and in June, 2009 the
company filed an action for declaratory relief against WUCC in the United
States District Court, Utah, requesting interpretation of and the status
and rights under the agreement. On July 20, 2009, WUCC filed an answer
and counterclaim, and on August 10, 2009, the company filed a response to
the counterclaim. Management believes that the counterclaim is without
merit. Therefore, no provision has been made for the counterclaim in the
financial statements.

About Pure Nickel Inc.

Pure Nickel is a mineral exploration company with a diverse collection of
advanced nickel sulphide and PGE (Platinum Group Element) projects in
Canada and Alaska.

Some of the statements contained herein may be forward-looking statements
which involve known and unknown risks and uncertainties. Without
limitation, statements regarding potential mineralization and resources,
exploration results, and expectations, plans, and objectives of Pure
Nickel are forward looking statements that involve various risks. The
following are important factors that could cause Pure Nickel's actual
results to differ materially from those expressed or implied by such
forward looking statements: changes in the world wide price of mineral
commodities, general market conditions, risks inherent in mineral
exploration, risks associated with development, construction and mining
operations, the uncertainty of future exploration activities and cash
flows and the uncertainty of access to additional capital. There can be
no assurance that forward-looking statements will prove to be accurate as
actual results and future events may differ materially from those
anticipated in such statements. Pure Nickel undertakes no obligation to
update such forward-looking statements if circumstances or management's
estimates or opinions should change. The reader is cautioned not to place
undue reliance on such forward-looking statements.

The TSX Exchange
does not accept responsibility for the adequacy or accuracy of this
release.

Contacts:
The Howard Group
Jeff Walker
Toll Free: 1-888-221-0915
info@howardgroupinc.com
www.howardgroupinc.com

Pure Nickel Inc.
David McPherson
President and CEO
(416) 644-0066
info@purenickel.com
www.purenickel.com

Copyright 2009, Market Wire, All rights reserved.

-0-