Fort St. James Nickel Corp.: Drilling Confirms New Nickel Discovery at Kilometre 26

Fort St. James Nickel Corp. (the "Company") (TSX VENTURE:FTJ) is pleased to
announced diamond drill results for six holes (813 metres total) completed in
November and December 2011 at the 100% owned Kilometre 26 project located in
central British Columbia. All six holes spaced at an average of 400 metres apart
(excepting K-11-1b which was re-drilled after K-11-1 was lost), intersected
nickel mineralized serpentinized ultramafic rock throughout their full lengths
with all holes ending in nickel mineralization. Five of the six holes were well
mineralized with excellent nickel values throughout while one hole was well
mineralized near its bottom. Nickel content of samples reaches a high of 3,048
ppm (0.30%). The distribution of the six holes extends 1,700 metres in a north
south direction and approximately 500 metres in an east west direction within a
geophysical target (total magnetic field high) that is more than 7 kilometres in
length. 


The following table summarizes the results:



----------------------------------------------------------------------------
                 From - To  Nickel  Chrome  Cobalt  Magnesium         Sulfur
Hole          (Interval m)       %     ppm     ppm          %              %
----------------------------------------------------------------------------
K-11-1           34.0-72.0    0.22   1,191     102       21.7 less than 0.05
                   (38.0m)                                                  
----------------------------------------------------------------------------
K-11-1b          34.5-88.0    0.21   1,123     102       21.4 less than 0.05
                   (53.5m)                                                  
----------------------------------------------------------------------------
K-11-2          33.0-200.0    0.21   1,160     101       21.3 less than 0.05
                  (167.0m)                                                  
----------------------------------------------------------------------------
K-11-3          62.0-174.0    0.04     678      64        4.1           0.07
                    (112m)                                                  
                 including                                                  
                  168-174m    0.16   1,528      92        7.7           0.09
                      (6m)                                                  
----------------------------------------------------------------------------
K-11-4          13.5-171.0    0.20   1,103      98       22.0 less than 0.05
                   (157.5)                                                  
----------------------------------------------------------------------------
K-11-5          54.0-108.0    0.20   1,006     100       21.1 less than 0.05
                    (54.0)                                                  
----------------------------------------------------------------------------


------------------------------------------------------------------
           Overburden                    Last Sample        Number
Hole           (To m)  Hole Bottom (m)        (Ni %)    of Samples
------------------------------------------------------------------
K-11-1           34.0             72.0          0.22            19
------------------------------------------------------------------
K-11-1b          34.5             88.0          0.22            27
------------------------------------------------------------------
K-11-2           33.0            200.0          0.21            83
------------------------------------------------------------------
K-11-3           62.0            174.0          0.17            56
------------------------------------------------------------------
K-11-4           13.5            171.0          0.20            78
------------------------------------------------------------------
K-11-5           54.0            108.0          0.24            54
------------------------------------------------------------------



The high magnesium values are interpreted to reflect an initial high content of
olivine which during serpentinization allowed nickel alloy and nickel sulfide to
partition from the rock. The low sulfur content is interpreted to suggest that
sulfide nickel is relatively minor.


Kilometre 26 is interpreted to contain a nickel mineralized ultramafic
assemblage similar to the nearby Decar Project being explored by First Point
Minerals Corp. and Cliffs Natural Resources Exploration Canada Inc. (30 km
distant) and the Dumont project located in Quebec being developed by Royal
Nickel Corporation. First Point and Cliffs have announced a recovery concept for
the Decar Project that would recover nickel alloy using a magnetic recovery
process (+/-64.0% Ni recovery reported). Royal Nickel has announced a recovery
concept for the Dumont Project that would recover nickel alloy using a magnetic
recovery process and high nickel content sulfide using a floatation process
(+/-65.5% Ni recovery reported). Both nickel alloy and nickel sulfide occur at
Kilometre 26 although the exact proportions of each is currently the subject of
ongoing research. Scanning electron microscope work completed on surface rubble
samples in 2011 identified both awaruite (nickel alloy) with an average nickel
content of 81% and pentlandite (nickel sulfide) with an average nickel content
of 35%. Other sulfide minerals were essentially non existent. Preliminary
metallurgical work currently being completed by SGS Minerals Services in
Burnaby, BC, has concluded that as much as 48.8% of the nickel in Kilometre 26
rubble samples reports to a magnetic concentrator (Ni alloy). SGS is still
determining the proportion of sulfide nickel. The results reported above are
total nickel which includes silicate, alloy and sulfide forms of the element.
Analyses were performed by Acme Analytical Laboratories of Vancouver using a
four acid digestion procedure. Drilling is expected to resume at Kilometre 26
towards the end of February while metallurgical work continues. 


The Kilometre 26 Project encompasses 9,819 hectares (24,263 acres), located in
the Omineca Mining Division of British Colombia near the community of Fort St.
James approximately two and a half hours by highway from the city of Prince
George. Due to the relatively low elevation of the Kilometre 26 property and its
excellent access, exploration programs can be carried out year-round. Kilometre
26 is accessed by an all-season arterial logging road.


J.W. (Bill) Morton, PGeo, a qualified person for the purposes of National
Instrument 43-101, has read and taken responsibility for this news release.


We seek Safe Harbor.

Further detail with respect to recent exploration work conducted on the Property
is available in the Company's website www.fortstjamesnickel.com.


This news release contains certain statements that may be deemed
"forward-looking statements. Forward looking statements are statements that are
not historical facts and are generally, but not always, identified by the words
"expects", "plans", "anticipates", "believes", "intends", "estimates",
"projects", "potential" and similar expressions, or that events or conditions
"will", "would", "may", "could" or "should" occur. Although Fort St James Nickel
believes the expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of future
performance and actual results may differ materially from those in forward
looking statements. Forward looking statements are based on the beliefs,
estimates and opinions of Fort St James management on the date the statements
are made. Fort St James Nickel Corp. undertakes no obligation to update these
forward-looking statements in the event that management's beliefs, estimates or
opinions, or other factors, should change, except as required by law.
Fort St James Nickel (TSXV:FTJ)
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