Nunavik Nickel Mines Ltd./Results: Annual General Meeting of Shareholders and Corporate Update

Nunavik Nickel Mines Ltd. (TSX VENTURE:KZZ) (hereinafter "Nunavik Nickel" or the
"Company") announces the results of its Annual General Meeting of Shareholders
(the "Meeting") held on May 16, 2012, in Montreal, Quebec. At the Meeting,
shareholders approved all resolutions put before them by management, including
the election of all director nominees, the appointment of the auditor, and the
approval of the previously adopted stock option incentive plan, as required
annually by the policies of the TSX Venture Exchange. 


Results of the Meeting 

Elections of Directors 

The shareholders elected Messrs. Pita Aatami, Glenn J. Mullan, Michael H.
Wilson, and Dr. C. Jens Zinke. Each shall service the Company as directors until
the next annual general meeting of shareholders Messrs. Aatami and Wilson are
considered to be independent pursuant to applicable securities legislation. 


Mr. Andrew T. Pepper did not stand for re-election this term and the directors
and management in conjunction with Mr. Mullan, CEO, take this opportunity to
thank Mr. Pepper for his contributions over his tenure as a director of the
Company.  


With the departure of Mr. Pepper, the board is now joined by Mr. Aatami. Mr.
Aatami has been a tireless symbol of Inuit progress in Northern Quebec, having
shaped policies that have both uplifted and strengthened social, economic, and
political progress for the Inuit community that will serve for generations. The
broad range of his policy leadership in Northern Quebec in business, education,
politics, social progress, and community development, and the broad impact of
the causes he has championed and of his approach to championing those causes
makes him a most valuable addition.  Mr. Aatami is a recipient of the Order of
Quebec (2009) and has served on Makivik Corporation (Executive Committee,
Director, and 1998-2012 as President), First Air (Board member and President
(1995)), Air Inuit, and Halutik Enterprises in various executive capacities,
and/or as a member of the Board of Directors. 


Appointment of the Auditor 

The shareholders re-appointed Raymond Chabot Grant Thornton LLP, Chartered
Accountants as the Company's auditor for the ensuing year. 


Annual Approval of the Nunavik Stock Option Incentive Plan 

The shareholders voted in favour of the resolution pertaining to the annual
approval of the Company's stock option incentive plan. 


Corporate Update 

Officer Appointment



Chief Executive Officer:                Glenn J. Mullan
                                                       
Chief Financial Officer and Secretary:  Daniel Poisson 



Board Committees 

The Board of Directors has crystallized its standing board committees; they
include the Audit Committee, the Corporate Governance and Compensation
Committee, and the Technical Committee. With the exception of the Technical
Committee, all of the Company's committees are comprised of a majority of
independent directors. 


About Nunavik Nickel Mines Ltd.: Nunavik Nickel Mines Ltd. holds title to the
Fortin Property, the Marymac Prospect, the Shoot Out Prospect (East and West
combined) and the Donnybrook and Overtime Claims, which were previously held by
Golden Valley Mines Ltd., and may acquire and generate other nickel ventures in
Canada and elsewhere. 


Forward Looking Statements: 

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 Golden Valley
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 or realities may differ materially from those in
forward looking statements. Forward looking statements are based on the beliefs,
estimates and opinions of Golden Valley's management on the date the statements
are made. Except as required by law, Golden Valley undertakes no obligation to
update these forward-looking statements in the event that management's beliefs,
estimates or opinions, or other factors, should change.

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