ASM Avino Silver And Gold Mines Ltd (delisted)

Victory Nickel Inc. ("Victory Nickel" or "the Company") (TSX:NI)
(www.victorynickel.ca) today announced that it has received a draft of the
Environment Act Licence (the "Licence") for its Minago Nickel Project in central
Manitoba.


"The magnitude of this accomplishment by the Victory Nickel team is difficult to
put into a few words," said Steve Harapiak, President and COO. "This is the
culmination of approximately four years of effort and meetings between the
Company, the government of Manitoba and the various First Nation and Metis
representatives."


"Upon receipt of the final Licence, Victory Nickel will be one of the very few
companies with a viable permitted mining project ready to move forward," said
Rene Galipeau, Vice-Chairman and CEO. "I thank everyone involved for their
efforts."


The final Licence will include changes recommended during the review of the
draft by the Company and the government and accommodation measures resulting
from the Crown - First Nation consultation process. The timeline for completion
of Crown consultation is August 15, 2011, so that Manitoba is in a position to
make a decision on Victory Nickel's Licence application by August 19, 2011.


The Minago open pit will produce approximately 110 million pounds of nickel per
year for approximately nine years(see news release dated May 2, 2011). The open
pit represents only a portion of the overall resource at Minago. While mining
the open pit, the Company will plan for the potential underground mining and
development of other pits on the North Limb if possible.


Annual and Special Meeting

As a reminder, the Company's Annual and Special Meeting for Shareholders ("ASM")
will take place today at 4:00 p.m. Toronto Time at the Toronto Board of Trade, 1
First Canadian Place, Toronto, Ontario. The ASM will be webcast and can be
accessed at
http://www.gowebcasting.com/events/victory-nickel-inc/2011/06/29/annual-general-meeting/playand
through Victory Nickel's website at www.victorynickel.ca.


About Victory Nickel

Victory Nickel Inc. is a Canadian company with four sulphide nickel deposits
containing significant NI 43-101- compliant nickel resources. Victory Nickel is
focused on becoming a mid-tier nickel producer by developing its existing
properties, Minago, Mel and Lynn Lake in Manitoba, and Lac Rocher in
northwestern Quebec, and by evaluating opportunities to expand its nickel asset
base. Victory Nickel also owns shares in Prophecy Resource Corp. (TSX
VENTURE:PCY) and Wallbridge Mining Company Limited (TSX:WM), the third largest
landholder in the Sudbury Basin, which in turn owns approximately 9% of Duluth
Metals Limited.


Please visit the Company's website at www.victorynickel.ca. Should you wish to
receive Company news via email, please email Juliet@chfir.com and specify
"Victory Nickel" in the subject line.


Forward-Looking Information: This news release contains forward-looking
information. All statements, other than statements of historic fact, that
address activities, events or developments that the Company believes, expects or
anticipates will or may occur in the future constitute forward-looking
information. This forward-looking information reflects the current expectations
or beliefs of the Company based on information currently available to the
Company. Forward-looking information is subject to a number of risks and
uncertainties that may cause the actual results of the Company to differ
materially from those discussed in the forward-looking information, and even if
such actual results are realized or substantially realized, there can be no
assurance that they will have the expected consequences to, or effects on the
Company. Factors that could cause actual results or events to differ materially
from current expectations include, among other things: uncertainty of estimates
of capital and operating costs, production estimates and estimated economic
return; the possibility that actual circumstances will differ from estimates and
assumptions; uncertainties relating to the availability and costs of financing
needed in the future; failure to establish estimated mineral resources;
fluctuations in commodity prices and currency exchange rates; inflation;
recoveries being less than those indicated by the testwork carried out to date
(there can be no assurance that recoveries in small scale laboratory tests will
be duplicated in large tests under on-site conditions or during production);
changes in equity markets; operating performance of facilities; environmental
and safety risks; delays in obtaining or failure to obtain necessary permits and
approvals from government authorities; unavailability of plant, equipment or
labour; inability to retain key management and personnel; changes to regulations
or policies affecting the Company's activities; the uncertainties involved in
interpreting geological data; and the other risks disclosed under the heading
"Risk Factors" and elsewhere in the Company's annual information form dated
March 31, 2011 filed on SEDAR at www.sedar.com. Forward-looking information
speaks only as of the date on which it is made and, except as may be required by
applicable securities laws, the Company disclaims any intent or obligation to
update any forward-looking information, whether as a result of new information,
future events or results or otherwise. Although the Company believes that the
assumptions inherent in the forward-looking information are reasonable,
forward-looking information is not a guarantee of future performance and
accordingly undue reliance should not be put on such information due to the
inherent uncertainty therein.

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