Continental Nickel Reports Grant of Stock Options

Continental Nickel Limited (TSX VENTURE:CNI) ("Continental" or the "Company")
announces the grant, pursuant to the Company's Stock Option Plan and subject to
any regulatory approvals, of 400,000 incentive stock options to officers,
directors and employees at an exercise price of $0.60 per share with a term of
five years.


About Continental Nickel

Continental Nickel Limited is focused on the exploration, discovery and
development of nickel sulphide deposits in prospective, but under-explored
regions globally. Current projects include its 70% controlling interest in the
Nachingwea project in Tanzania, where NI 43-101 Mineral Resources have been
defined, and an option joint venture on the St. Stephen project in New
Brunswick, Canada. Continental Nickel has 38,943,664 shares issued and
outstanding (46,206,514 on a fully-diluted basis) and trades on the TSX Venture
Exchange under the symbol CNI. The Company remains well funded with C$13.5
million in the treasury.


On behalf of Continental Nickel Limited

Craig MacDougall, President & Chief Executive Officer

CAUTIONARY STATEMENT: 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.