Fall 2008 The MAN Alliance ITOCHU’S Investment in the Future.

Fall 2008

The MAN AllianceITOCHU’S Investment in the Future


For Discussion

PNI Today

MAN –Unlimited Blue Sky

The Alliance

Who is ITOCHU?

Impact on PNI

Next Steps


PNI Today

NIC (TSX); PNCKF (OTCBB) Shares Outstanding: 67.8M

87.9 fully diluted Market Cap: $4.75M 52 week Hi / Lo: $1.15 - $0.025 Working Capital: $7.3M


PNI Today

Best geological setting for commercial discovery.


Pure Nickel - PropertiesPure Nickel - Properties

12 North American Properties

2 Premier Areas

5 Joint Ventured Properties

5 Other Active Projects

MAN Alaska

Thompson Belt

POV and Nuvilik-Minergy Limited

Manibridge- Crowflight Minerals

HPM Forgues- Manicouagan Minerals

Tower Zone- Rockcliff Resources Inc.

Man – Unlimited Blue Sky

100% PNI Owned

Immense Project area

Infrastructure is excellent


Aeromagnetics of Survey AreaAeromagnetics of Survey Area

Rainy CreekComplex

AlphaComplex

BetaComplex

CanwellComplex


MAN Samples (Massive Sulphides)MAN Samples (Massive Sulphides)

Alpha (XXX)5.9% Ni3.1% Cu1.5 g/t PGE

Miller Ck.6.2% Ni0.3% Cu5.0 g/t PGE

Glacier L.5.3% Ni1.3% Cu3.0 g/t PGE

Canwell13.6% Ni2.9% Cu26.0 g/t PGE


MAN Project Geological ModelMAN Project Geological Model

BetaComplex

AlphaComplex


The Alliance

$40,000,000 in development investment over 7 years. Option to earn up to a 75% interest Firm commitment to fund 2008 and 2009 exploration

expenses to a total of $6.5 million Option to earn a 60% interest by investing an additional $23.5

million over 4 years Option to earn a 75% interest by investing $10 million in the

7th year. 10% Management Fee


Who is ITOCHU? Large Japanese Conglomerate 7 Major Operating Divisions 2008 Financial Highlights:

Total Revenue: $131.6 billion USNet Income: $ 2.32 billion US

Total Assets $ 55.7 billion USShareholder’s Equity $ 10.4 billion US

ROE 23.3%


Impact on PNI

$2.1 million in 2008 exploration costs recovered $4.4 million exploration budget for MAN in 2009, including

management fees of $400,000 $1 million dollar positive impact on expenses Long term partner prepared to look at other PNI projects No requirement to raise capital in 2009 Builds credibility for our projects, technical team and

management


Next StepsWinter 2009• Extensive modeling and mapping using new and existing

geochemistry and geophysical surveys• Extensive analysis, utilizing “state of the art” software, of historic

drill programs, integration with all other data• Initiate New and deeper ground geophysical surveys


Next StepsSpring 2009 LIDAR & High Resolution Aerial Photography over Alpha, Beta,

Rainy, Canwell complexes


Next StepsSummer 2009• Detailed mapping and prospecting • Construction of a rock preparation and analysis facility• 7000 meter 2 drill program• Additional airborne VTEM surveys

Questions?

Fall 2008 The MAN Alliance ITOCHU’S Investment in the Future.

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