North American Nickel Inc. (TSX VENTURE:NAN)(OTCBB:WSCRF) (CUSIP: 65704T 108)
(the "Company") is pleased to announce that it proposes to complete a
non-brokered private placement of up to 44,117,647 units (the "Units") at a
price of CAD$0.17 per Unit for aggregate gross proceeds of up to CAD$7,500,000.


Each Unit will be comprised of one common share of the Company and one half of
one common share purchase warrant (a "Warrant"), each whole Warrant will entitle
the holder thereof to purchase one additional common share at an exercise price
of CAD$0.21 per share for a period of twenty-four months following the closing
of the respective tranche of the private placement. The net proceeds of the
financing will be used to fund the Company's mineral exploration programs and to
provide additional working capital.


VMS Ventures Inc. ("VMS") intends to subscribe for 11,764,704 Units in the
financing. VMS, which is an insider and a related party of the Company,
beneficially owns, or exercises control or direction over, 21,825,000 common
shares (or approximately 27.1% of the issued and outstanding common shares) of
the Company. Richard J. Mark, the CEO and a director of the Company, is the
Chairman, CEO and a director of VMS.


Sentient Executive GP IV, Limited ("Sentient") intends to subscribe for
16,552,399 Units in the financing. Sentient, which is an insider and a related
party of the Company, beneficially owns, or exercises control or direction over,
20,000,000 common shares (or approximately 24.8% of the issued and outstanding
common shares) of the Company and warrants entitling the holder to acquire up to
an additional 10,000,000 common shares of the Company.


Due to the fact that VMS and Sentient, who are each insiders and related parties
of the Company, will subscribe for Units, their subscriptions under the
financing will be "related party transactions" for the purposes of Multilateral
Instrument 61-101 - Protection of Minority Security Holders in Special
Transactions ("MI 61-101"). In order to comply with the requirements of MI
61-101, the VMS and Sentient subscriptions will be completed in two tranches.
Both tranches will be completed in reliance on an available exemption from the
formal valuation requirement of MI 61-101 provided in paragraph (b) of Section
5.5 of MI 61-101. The first tranche of the VMS and Sentient portions of the
financing will be completed in reliance on an available exemption from the
minority shareholder approval requirement of MI 61-101 provided in paragraph (a)
of Section 5.7 of MI 61-101. Neither the fair market value of the Units issued
nor the consideration paid for the Units pursuant to the VMS and Sentient
portions of the first tranche will exceed 25% of the Company's market
capitalization. The second tranche of the VMS and Sentient portions of the
financing will be conditional on an affirmative vote from the Company's
disinterested shareholders at the annual and special general meeting of the
Company to be held on June 13, 2013.


VMS and Sentient, to the Company's knowledge, are each making their own
investment decisions and are acting independently and not jointly and in
concert.


Shares acquired by the placees, and shares which may be acquired upon the
exercise of the Warrants, will be subject to a hold period of four months plus
one day from the date of closing of the respective tranche of the private
placement in accordance with applicable securities legislation. 


The closing of the first tranche and the second tranche, respectively, will
occur as soon as the applicable closing conditions, including the approval of
the TSX Venture Exchange (and minority shareholder approval for the second
tranche of the financing), have been satisfied. Finder's fees may be paid in
connection with the financing. 


About North American Nickel

North American Nickel is a mineral exploration company with 100% owned
properties in Maniitsoq, Greenland, Sudbury, Ontario, and the Thompson, Manitoba
nickel belt. VMS Ventures Inc. (TSX VENTURE:VMS) owns approximately 21M shares
of NAN.


The Maniitsoq property in Greenland is a Camp scale project comprising 4,983
square km's covering numerous high-grade nickel-copper sulphide occurrences
associated with norite and other mafic-ultramafic intrusions of the Greenland
Norite Belt (GNB). The 70km plus long belt is situated along, and near, the
southwest coast of Greenland, which is pack ice free year round. 


The first two discoveries of economic mineralization at Imiak Hill and Spotty
Hill confirm the high value and potential of the GNB.


The Post Creek/Halycon property in Sudbury is strategically located adjacent to
the producing Podolsky copper-nickel-platinum group metal deposit of Quadra FNX
Mining. The property lies along the extension of the Whistle Offset dyke
structure. Such geological structures host major Ni-Cu-PGM deposits and
producing mines within the Sudbury Camp. 


Statements about the Company's future expectations and all other statements in
this press release other than historical facts are "forward looking statements"
within the meaning of Section 27A of the Securities Act of 1933, Section 21E of
the Securities Exchange Act of 1934 and as that term defined in the Private
Litigation Reform Act of 1995. The Company intends that such forward-looking
statements be subject to the safe harbours created thereby. Since these
statements involve risks and uncertainties and are subject to change at any
time, the Company's actual results may differ materially from the expected
results. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
North American Nickel Inc.
Rick Mark
CEO and Chair
604-986-2020 or Toll free: 1-866-816-0118
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