CNI Continental Nickel Limited

Continental Nickel Limited (TSX VENTURE:CNI) (the "Company") announces the
grant, pursuant to the Company's Stock Option Plan and subject to any regulatory
approvals, a total of 882,500 incentive stock options to officers, directors and
employees at an exercise price of $0.878 per share with a term of five years.


About Continental Nickel Limited

Continental is focused on the exploration, discovery and development of nickel
sulphide deposits in geologically prospective, but under-explored regions
globally. The Company's key asset is its 75% interest in its Nachingwea property
in Tanzania. The project is a 75:25 exploration joint venture between the
Company and IMX Resources Limited.


The Company also has an option to joint venture on the St. Stephen project in
New Brunswick, Canada where the 2010 and 2011 diamond drill programs discovered
new Ni-Cu sulphide zones.


As at the date of this release, the Company has 42,738,508 common shares issued
and outstanding (51,126,914 on a fully-diluted basis) and trades on the TSX
Venture Exchange under the symbol CNI.


On behalf of Continental Nickel Limited

Dave Massola, President and Chief Executive Officer

CAUTIONARY STATEMENT: No stock exchange, securities commission or other
regulatory authority has approved or disapproved the information contained
herein. This News Release includes certain "forward-looking statements". All
statements other than statements of historical fact included in this release
including, without limitation, statements regarding potential mineralization,
potential or estimated metal recoveries, resources and reserves, exploration
results, future plans and objectives of Continental Nickel Limited, is
forward-looking information that involves various risks and uncertainties. There
can be no assurance that such information will prove to be accurate and actual
results and future events could differ materially from those anticipated in such
information. Important factors that could cause actual results to differ
materially from Continental Nickel Limited's expectations are the risks detailed
herein and from time to time in the filings made by Continental Nickel Limited
with securities regulators.

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