Victory Nickel Announces Results of Annual and Special Meeting

Webcast of proceedings and corporate update available online

TORONTO, ONTARIO--(Marketwired - May 30, 2014) - Victory Nickel Inc. ("Victory Nickel" or the "Company") (TSX:NI) today announced the results of its annual and special meeting of shareholders ("AGM") held on May 29, 2014.

All of the nominee directors listed in Victory Nickel's management information circular dated April 25, 2014 (the "Circular") were elected as directors. The results of the shares voted in respect of the election of each director were as follows:

At the AGM, shareholders also voted in favour of:

• Re-appointing BDO Canada LLP, Chartered Accountants, Licensed Public Accountants, as the auditor of the Corporation and authorizing the directors to fix the auditor's remuneration;
  
  
• Authorizing the board of directors of the Corporation (the "Board"), in its sole discretion, to consolidate the common shares of the Corporation at a ratio of up to ten (10) to one (1), and to amend the Corporation's articles accordingly; and,
  
  
• Authorizing the Board, in its sole discretion, to change the name of the Corporation to "Victory Minerals Inc." or such other name as the Board determines appropriate, and to amend the Corporation's articles accordingly.
  

An archived recording of the AGM proceedings can be accessed on the Company's website at www.victorynickel.ca, or at http://www.gowebcasting.com/5559.

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 Québec, 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 cathy@chfir.com 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.