Resource Capital Acquires Shares of First Nickel Inc.

DENVER, CO, April 10, 2013 /CNW/ - Resource Capital Fund IV L.P. ("RCF IV") and Resource Capital Fund V L.P. ("RCF V") report that they have completed a series of transactions to restructure the existing indebtedness of First Nickel Inc. ("First Nickel") as further described in news releases of First Nickel dated April 1 and April 5, 2013. In connection with the Refinancing, RCF IV and RCF V, affiliated entities by way of a common management company (RCF Management LLC), acquired 42,904,230 common shares of First Nickel as payment of certain establishment and extension fees, representing approximately 8.1% of First Nickel's outstanding common shares. In addition, RCF acquired 50 million warrants to purchase common shares of First Nickel exercisable for two years at an exercise price of $0.05 per common share.

The securities were acquired for investment purposes. RCF IV and RCF V will evaluate their investment in First Nickel from time to time and may, based on such evaluation of market conditions and other circumstances, increase or decrease shareholdings in First Nickel as circumstances require.

For further information and to obtain a copy of the early warning report filed under applicable Canadian securities laws in connection with the transactions hereunder, please see First Nickel's profile on the SEDAR website www.sedar.com.

SOURCE: Resource Capital Fund V L.P.

Resource Capital Fund V L.P.
1400 Sixteenth Street, Suite 200,
Denver, CO, 80202,
Telephone:  [phone]