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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (32692)	2/12/2007 8:16:02 PM
From: LoneClone	Read Replies (1) \| Respond to of 78421

Hard Creek More Than Doubles Turnagain Resource Monday February 12, 2:41 pm ET ca.us.biz.yahoo.com VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 12, 2007) - Hard Creek Nickel Corporation (TSX VENTURE:HNC - News) is pleased to announce a new resource estimate for its wholly owned Turnagain Property, located 70 km east of Dease Lake, BC. This resource estimate is an update from a resource estimate provided in the June 14, 2006 AMEC Americas Limited of Vancouver, B.C. report entitled "Preliminary Assessment of the Turnagain Nickel Project". The new resource estimate renders this Preliminary Assessment no longer valid and the report will be updated utilizing the new resource estimate. The June 14, 2006 Preliminary Assessment will continue to be available on our website and SEDAR as an historical document only. The updated resource is a 235% increase in measured and indicated resources using new drill information from the 2006 exploration program from an expanded Horsetrail zone and newly discovered Hatzl and Duffy areas. Six separate zones were estimated independently as part of the resource. The table below presents the resource estimate using a cut-off grade of 0.10% sulfide nickel (the 2006 Preliminary Assessment of the Turnagain Nickel Project used a base case cut-off of 0.095% sulfide nickel with the measured and indicated resource estimated at 184 million tonnes grading 0.17% sulfide nickel and an additional inferred resource of 286 million tonnes grading 0.16% sulfide nickel). A total of 24,408 metres of diamond drilling in 117 drill holes were used in the block model estimate. Holes beyond the zone boundaries were not used in the estimate. Sulfide nickel grades are based on ammonium citrate-hydrogen peroxide leach analyses. Ammonium citrate-hydrogen peroxide leach analyses for nickel provided a good estimate of nickel grades present in sulfide form and display excellent correlation with recoveries in metallurgical testwork. When compared with conventional analyses for nickel, the ammonium citrate-hydrogen peroxide leach results range from 60% to 90% of total nickel values. Only the nickel sulfides are expected to be recoverable by froth flotation. Cut-off Grade Tonnes % Sulfide % Total 0.10 % Sulfide Ni (000) Ni Ni % Co Measured 37,629 0.17 0.23 0.011 Indicated 390,934 0.17 0.22 0.011 Measured + Indicated 428,563 0.17 0.22 0.011 Inferred 742,923 0.17 0.22 0.011 Mineral resources that are not mineral reserves do not have demonstrated economic viability. Ronald G. Simpson, P.Geo., principal of Geosim Services Ltd., completed the resource estimate for the project and is an independent qualified person as defined by NI 43-101. A detailed 43-101 compliant technical report will be completed and filed on SEDAR within 45 days. Methodology & Quality Control These mineral resource estimates were prepared pursuant to Canadian Institute of Mining (CIM) Standards on Mineral Resources and Reserves, prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council December 11, 2005 and published in the CIM Bulletin of November 2005 and compliant with National Instrument 43-101 - Standards of Disclosure for Mineral Exploration and Development and Mining Properties. Numbers have been rounded subsequent to calculation. Resource estimation was constrained by 3 dimensional solid models developed from geological and analytical data. Block size was 25x25x15 metres and grade estimation was carried out by ordinary kriging using 15 metre downhole drill composites. Tonnes were calculated using an average SG of 3.05 based on 672 density measurements. Samples for analysis were generally two metres (prior to 2006) and four metres (in 2006) in length of split NQ-size core for drilling. Reference pulps with known nickel values were inserted every 25 core samples and rock blanks every 30 samples to monitor laboratory performance as part of the quality control/quality assurance program. Total nickel and cobalt values were determined by ICP emission spectrometry following four-acid digestion of a representative pulp sample. Total nickel includes nickel in both sulfide and non-sulfide minerals. All analytical work was conducted by Acme Analytical Laboratories Ltd., an ISO 9001 registered facility, located in Vancouver. ALS Chemex, an ISO 9001 registered facility, also located in Vancouver, is carrying out check analyses on 10 per cent of the samples. MARK JARVIS, President HARD CREEK NICKEL CORPORATION This press release has been reviewed and approved by Neil Froc, P.Eng., a Qualified Person consistent with NI 43-101 and by Ron Simpson., P. Geo., an Independent Qualified Person consistent with NI 43-101. This press release uses the terms "measured", "indicated" and "inferred" resources. We advise U.S. investors that while those terms are recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted to reserves. The TSX Venture Exchange does not accept responsibility for the accuracy or adequacy of this news release. Contact: Mark Jarvis Hard Creek Nickel Corporation President (604) 681-2300 (604) 681-2310 (FAX) Email: info@hardcreek.com Website: www.hardcreeknickel.com Source: Hard Creek Nickel Corporation