Continental Nickel Files a National Instrument 43-101 Technical Report on SEDAR for the Nachingwea Project, Tanzania

TORONTO, ONTARIO--(Marketwire - Aug. 13, 2009) - Continental Nickel Limited (TSX VENTURE:CNI) ("Continental" or the "Company") is pleased to report that it has filed a National Instrument (NI) 43-101 Technical Report relating to the Mineral Resource Estimate for its Nachingwea nickel sulphide project on SEDAR and has posted a copy on the company website (www.continentalnickel.com). The NI 43-101 Technical Report and Mineral Resource Estimate were completed by Scott Wilson Roscoe Postle Associates Inc. (Scott Wilson RPA) of Toronto, Ontario. The results of the Mineral Resource Estimate were previously reported in a company news release on July 15, 2009. As stated in that release, Measured and Indicated Mineral Resources at Ntaka Hill total 3,085,000 tonnes grading 1.31% nickel, 0.24% copper and 0.04% cobalt calculated at a US$23 /tonne Net Smelter Return (NSR) cut-off. The Nachingwea project is a 70:30 Joint Venture with IMX Resources Limited ("IMX") of Australia and is comprised of Prospecting Licenses and applications for licenses covering a regionally extensive land position totalling 7,560 square kilometres, much of which has had only minimal exploration. To date, six separate nickel-copper sulphide deposits have been discovered by the Joint Venture at Ntaka Hill. In 2009, Continental is conducting a CAD$2.5 million exploration program at Nachingwea to continue the search for nickel sulphide deposits in this emerging new nickel district. Some twenty eight airborne VTEM anomalies have been identified for further work as part of this program and a 3,000 metre diamond drill campaign is expected to commence in September. Continental Nickel remains well funded with CAD$11.6 million in the treasury. Qualified Persons The NI 43-101 Technical Report and Mineral Resource Estimate was prepared by Scott Wilson Roscoe Postle Associates Inc. of Toronto, Ontario under the supervision of Chester Moore, P. Eng., Principal Geologist. Mr. Moore is an independent qualified person as defined by National Instrument 43-101. The quality control, technical information and all aspects of the exploration program were supervised by Patricia Tirschmann, P. Geo., Vice President, Exploration for CNI. The information in this release was prepared under the direction of Craig MacDougall, P. Geo., President and Chief Executive Officer for Continental Nickel Limited. Both Ms. Tirschmann and Mr. MacDougall are qualified persons as defined by National Instrument 43-101. About Continental Nickel Continental Nickel Limited is focused on the exploration and discovery of nickel sulphide deposits in geologically prospective, but under-explored regions globally. Current projects include its 70% controlling interest in the Nachingwea project in Tanzania and an option joint venture on the St. Stephen project in New Brunswick, Canada. Continental Nickel has 30,132,395 shares issued and outstanding (32,442,395 on a fully-diluted basis) and trades on the TSX Venture Exchange under the symbol CNI. On behalf of Continental Nickel Limited Craig MacDougall, President & 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 and reserves, exploration results, future plans and objectives of Continental Nickel Limited, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. 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. Information in this announcement relating to the estimation of Mineral Resources is based on data verified and estimation methodologies supervised by Mr. Chester Moore who is a Principal Geologist with Scott Wilson Roscoe Postle Associates Inc. of Toronto Ontario, Canada. Information relating to exploration results and data used in the Mineral Resource estimate was gathered and compiled under the supervision of Ms Patricia Tirschmann who holds the position of Vice President, Exploration and is a full time employee of Continental Nickel Limited. Mr. Moore is a registered member of the Association of Professional Engineers of Ontario and Ms. Tirschmann is a registered member of the association of Professional Geoscientists of Ontario. Each have sufficient relevant experience to qualify as a Competent Person under the 2004 Edition of the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. Moore and Ms. Tirschmann all consent to the inclusion of the data in the form and context in which it appears.