Victory Nickel Files Q1 Financial Statements

Victory Nickel Inc. ("Victory Nickel" or the "Company") (TSX:NI) today announced
that it has filed its financial statements for the three months ended March 31,
2014. Commissioning of the 500,000 ton per annum frac sand processing facility
in Seven Persons, Alberta (the "7P Plant") is continuing, and frac sand sales
began during the first quarter. Given Victory Nickel's significant in-situ
nickel resources, the Company remains encouraged by the fact that nickel was one
of the best performing metals on the London Metal Exchange during the first
quarter of 2014.


In March, 2014, Victory Nickel and its subsidiary Victory Silica Ltd. ("Victory
Silica") announced that commissioning of the 500,000 ton per annum 7P Plant was
underway and that frac sand sales had begun. Effective March 31, 2014 the 7P
plant was still being commissioned and accordingly is not being depreciated. Any
sales generated during the commissioning period are being offset against
pre-operating expenditures. During the first quarter, sales totalled $274,000.


The construction and commissioning processes have been affected by the severe
weather conditions experienced throughout Canada and the US this past winter.
Not only was the 7P Plant site impacted, but so were Victory Nickel's suppliers.


"As an example, delivery of concentrated sand was delayed because rail companies
were forced to reduce the number of cars pulled due to the impact the severe
cold has on air brake performance, causing backups and delays in delivery of
rail freight of all types," said Rene Galipeau, CEO. "At the 7P Plant site,
frost penetrated to depths never before experienced and resulted in damage to
gas lines and dryer gears, causing potholes and heaving of warehouse floors.
Hopefully this is behind us and production can ramp up to the expected levels in
the near-term. On the bright side, all forecasts suggest a strong 2014 for the
fracking industry as activities return to normal following the annual spring
break-up during which time fracking activity slows significantly."


"According to New York-based investment bank Cowen and Company, US frac sand
pricing was up 4% in March and another 1% in April, marking the highest month in
the index since January 2013 (see graph below). In addition, a weakening
Canadian dollar and strengthening nickel price bode well for Victory Nickel's
Minago nickel project," added Mr. Galipeau. "As of May 15, the nickel price on
the London Metal Exchange was US$9.36. The IRR of the Minago project based on
the Minago Feasibility Study ("FS") at the metal prices and US-Canadian dollar
exchange rate on May 15, 2014 is 17.7%. At a discount rate of 8%, the net
present value of the Minago project is approximately $322 million; this compares
with an IRR of 22.4% at the FS Base Case prices."


About Victory Silica Ltd.

Victory Silica Ltd. is a wholly-owned subsidiary of the Company and is charged
with a phased plan to establish the Company in the frac sand market. In Phase 1,
the Company has begun processing sand imported from Wisconsin at the 7P Plant
and selling the processed frac sand to customers on a spot basis. The 7P Plant
is well located in an area populated with fracking companies, its potential
customers, and is within only a few hours' trucking distance of major oil or gas
play well sites. Phase 2, which includes the construction of a concentrator in
Wisconsin, is expected to reduce costs and assure security of sand supply
through the control of a frac sand mine in Wisconsin. In Phase 3, the Company
intends to construct a larger frac sand plant to process and distribute both
imported and domestic sand, which may potentially, but not necessarily, include
sand mined as a co-product of development at the Company's Minago project. The
Company has already identified a site in Winnipeg, Manitoba for this purpose.


About Frac Sand

Frac sand is a proppant used in the oil and gas business as a part of the
hydraulic fracturing process - a means of increasing flow to the wellhead. Frac
sand must have particular characteristics including achieving certain levels of
crush resistance, sphericity and roundness, and it is therefore a relatively
rare commodity. Vast quantities of frac sand are consumed, and more is needed
all the time, as shale gas and oil plays in Canada and the US rise to
prominence.


About Victory Nickel

Victory Nickel Inc. is a Canadian company with four sulphide nickel deposits
containing significant NI 43-101-compliant nickel resources and a significant
frac sand resource at its Minago project. 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. Through a wholly-owned
subsidiary, Victory Silica Ltd., Victory Nickel is attempting to establish a
presence in the frac sand market prior to commencing frac sand production and
sales from Minago.


Please visit the Company's website at www.victorynickel.ca. Should you wish to
receive Company news via email, please email [e-mail] 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, 2014 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.


To view the graph accompanying this press release, please visit the following
link: http://media3.marketwire.com/docs/946469.png


FOR FURTHER INFORMATION PLEASE CONTACT: 
Victory Nickel Inc.
Rene Galipeau
416.363.8527
416.626.0890 (FAX)
[e-mail]
www.victorynickel.ca


CHF Investor Relations
Cathy Hume
416.868.1079
416.868.6198 (FAX)
[e-mail]