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New Equity Research on Pure Nickel Inc. (NIC)

LOM Securities (Bermuda) Limited is pleased to announce that a new research report has been issued on Pure Nickel Inc. (TSX: NIC), a Canadian-based mineral exploration company that holds interests in a diverse collection of advanced nickel and PGE projects throughout Canada and Alaska. Since acquiring Xstrata’s Canadian nickel exploration portfolio in July, 2007, NIC has subsequently become one of the largest North American nickel exploration firms. The company holds a premium portfolio of later stage exploration and development projects, with the most advanced being the William Lake Property based on preliminary drilling results to date. At current price levels, NIC shares are trading at a fraction of cash plus expected royalties per share, and at a significant discount to peers based on a relative valuation. We are therefore initiating coverage on Pure Nickel Inc. with a Buy rating and a target price of $0.39.

LOM strongly recommends that the complete report be reviewed prior to making any investment decisions. The issuer named in this report may be considered speculative in nature and fit only for qualified individuals that have sought the advice of investment professionals.  LOM directs any potential investors to the full list of disclosures contained within the complete report.

This report will be available to the general public on November 8th, 2008. 

If you are an LOM client and would like a copy of the complete research report, please contact your broker.  For other inquiries please contact:

Grant Hopkins
LOM Securities (Bermuda) Ltd.
lom.research@lom.com
441-294-7039