October 30, 2008

Continental Nickel Announces New Appointments

The Board of Continental Nickel Limited (TSX VENTURE: CNI) is pleased to provide the following update with respect to new appointments in the company.

At the annual general meeting of shareholders held October 29, 2008, Mr. Bruce Burton was elected as a director, replacing Mr. Geoff Wallace who did not stand for re-election as IMX Resource's nominee. Mr Burton is a seasoned financial professional with an extensive career in the mining and resource sector spanning over thirty-five years. He has held a number of senior executive positions including President of Blackrock Ventures, acting President and Chief Financial Officer of Rayrock Resources, President of Minera Rayrock and most recently held the position of Chief Financial Officer of Dundee Precious Metals Inc. Mr. Burton is a Chartered Accountant and holds an Honours Business Administration degree from the University of Western Ontario and a Masters of Business Administration from York University.

Also joining Continental Nickel is Ms. Sharon Taylor as Manager of Geophysics and Project Generation. Ms. Taylor has twenty years of mineral exploration experience working as a geophysicist and most recently held the position of Senior Geophysicist with Xstrata Zinc. Throughout her career with Falconbridge / Xstrata she has supervised and implemented exploration programs for base metals in Timmins, Sudbury, Raglan and Bathurst. Ms. Taylor holds a B.Sc. from Mount Allison University and a M.Sc. in Geological Sciences from Queens University and is a registered Professional Geoscientist in Ontario and New Brunswick.

Pursuant to the Company's Stock Option Plan, Mr. Burton and Ms. Taylor have been awarded an aggregate of 175,000 incentive stock options at an exercise price of $1.50 per share with a term of five years. The grant of the options are subject to regulatory approval.

Craig MacDougall, President & CEO of Continental Nickel Limited, stated "the election and appointment of Mr. Burton as Director will bring a wealth of experience in the Canadian natural resources sector and compliment our current board. At the same time we wish to acknowledge and thank Mr. Geoff Wallace, who was one of our founding directors, for playing such an important role in the successful launch of the company. We also wish to welcome Ms. Sharon Taylor who is joining our exploration team and whose skills and experience will greatly strengthen our capability in our exploration efforts to discover and delineate nickel sulphide deposits.

About Continental Nickel

Continental Nickel Limited is an exploration company focused on the exploration and discovery of nickel sulphide deposits in geologically prospective, but under explored regions globally. Current projects include its 70% controlling interest in the Nachingwea project in Tanzania and an option joint venture on the St. Stephen project in New Brunswick, Canada. Continental Nickel has 30,062,395 shares issued and outstanding (33,235,916 on a fully-diluted basis) and trades on the TSX Venture Exchange under the symbol CNI.

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.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

 Contacts: Continental Nickel Limited Craig MacDougall, P. Geo. President and CEO (416) 364-7111 (416) 364-8114 (FAX) Email: [email protected] Website: www.continentalnickel.com

SOURCE: Continental Nickel Limited