Continental Nickel Reports Resignation of Director

Continental Nickel Limited (TSX VENTURE:CNI) (the "Company") announces that the
Board of Directors has received the resignation of Director Mr. Anthony J.
(Tony) Haggarty. Mr. Haggarty was appointed to the Board on August 23, 2011 and
has resigned due to his increasing responsibilities as Managing Director of
Whitehaven Coal. 


Mr. John Nitschke, Chairman of the Board said, "The Board would like to thank
Mr. Haggarty for his contributions during his service as a Director and wishes
him well in his future endeavours." 


About Continental Nickel Limited

Continental is focused on the exploration, discovery and development of nickel
sulphide deposits in geologically prospective, but under-explored regions
globally. The Company's key asset is its 75% joint venture interest in the
Nachingwea project in Tanzania, where measured and indicated mineral resources
have been estimated at 12.8 Mt grading 1.21% nickel and inferred mineral
resources have been estimated at 45 Mt grading 0.30% nickel (CNI press release
April 17, 2012). The project is a 75:25 joint venture between the Company and
IMX Resources Limited. The Company also has an option to joint venture on the
St. Stephen project in New Brunswick, Canada where the 2010 and 2011 diamond
drill programs discovered new Ni-Cu sulphide zones. 


As at the date of this release, the Company has 42,793,508 common shares issued
and outstanding (46,866,008 on a fully-diluted basis) and trades on the TSX
Venture Exchange under the symbol CNI. The Company had over $6.6 million in the
treasury as at March 31, 2012.


On behalf of Continental Nickel Limited 

Dave Massola, President and 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, potential or estimated metal recoveries, resources and reserves,
exploration results, future plans and objectives of Continental Nickel Limited,
is forward-looking information that involves various risks and uncertainties.
There can be no assurance that such information will prove to be accurate and
actual results and future events could differ materially from those anticipated
in such information. 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.