First Nickel Inc. is a mining and exploration company, whose principal operating asset is the Lockerby Mine near Sudbury, Ontario. The mine produces nickel-copper ore, which is sold to Xstrata Nickel under a life of mine offtake agreement. In addition to its Lockerby operation, the Company maintains an active exploration program on advanced projects at the Lockerby Mine and around Sudbury, and grassroots elsewhere in Ontario. The Lockerby Mine property comprises 10 contiguous patented mining claims covering 244.41 hectares. A total of 517 holes totaling 127,456 meters of diamond drill core had been completed on the Lockerby Mine property as of December 31, 2008. During the year ended December 31, 2008, a total of 136,453 tons of ore were delivered to the Xstrata treatment facilities. The Company's West Graham property consists of 129.9 hectares. As at December 31, 2008, the Company had drilled 62 diamond holes totaling 22,237.5 meters on the West Graham property.