ESS Esstra Industries Inc

Continental Nickel Limited (TSX VENTURE:CNI) ("CNI" or the "Company") is pleased
to announce the submission of the Environmental Scoping Study ("ESS") to the
National Environment Management Council ("NEMC") of Tanzania for the Ntaka Hill
Nickel Project (the "Project"). This is the first major step towards obtaining
the necessary Tanzanian government environmental approval to take the Project
into production in mid-2015.


The Project is part of the larger 75:25 exploration joint venture with IMX
Resources Limited for the Nachingwea Project in Southern Tanzania.


The ESS is the result of the first stage of community consultation and
environmental site investigation to identify potential social and environmental
impacts from the Project, which require further investigation and assessment in
the detailed Environmental and Social Impact Assessment ("ESIA"). It sets out
the proposed Terms of Reference for these further environmental and social
studies that are required. The study will be reviewed by NEMC and once approved
will form the basis on which the ESIA is carried out.


Tanzanian based environmental consulting group MTL Consulting Company Limited
prepared the ESS and in parallel is conducting the various site investigations
and environmental baseline studies for the Project. In addition Coffey
Environments Australia Pty Ltd is providing an ongoing peer review of the
environmental studies and submissions to ensure that they are carried out in
line with CNI's environmental policy and international standards.


Mr. Stewart Watkins, Vice President, Projects commented, "Submission of the
Study is a major milestone in the development of the project. With the Company
already being well advanced in carrying out the various environmental baseline
studies we are on target for the submission of the ESIA and approval of our
environmental permit in line with a schedule that will see the Project in
production in mid-2015.


The Study and investigations carried out to date have not identified any
unanticipated issues that may delay the project development. However, our
investigations are ongoing and the Company will address any as yet unidentified
environmental or social issues as part of its commitment to high standards of
environmental and social responsibility."


Next Stages

The next stages in the environmental approval process for the Project are:



--  Review and approval by NEMC of the ESS and proposed Terms of Reference
    within two weeks. 
--  Second stage of community consultation and site investigations
    commencing March 2012. 
--  Wet season baseline studies commencing in April 2012. 
--  Preparation of ESIA and submission to NEMC, following public display in
    the project area, in the fourth quarter 2012. 
--  NEMC Technical Advisory Committee review of ESIA in fourth quarter 2012.
--  Approval of ESIA and granting of Environmental Permit for the Project,
    by NEMC and the office of the Vice President, in the first quarter of
    2013 (within 90 days of submission).



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% interest in the Nachingwea project
in Tanzania, where Mineral Resources (Measured and Indicated) have been
estimated at 60,900 tonnes of contained nickel, and an additional 131,000 tonnes
of contained nickel in Inferred Mineral Resources (CNI press release April 15,
2011). The project is a 75:25 exploration 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 diamond drill program discovered new Ni-Cu
sulphide zones. 


As at the date of this release, the Company has 42,738,508 common shares issued
and outstanding (50,244,414 on a fully-diluted basis) and trades on the TSX
Venture Exchange under the symbol CNI. The Company remains well funded with over
C$9.4 million in the treasury as at December 31, 2011.


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.

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