International Nickel Ventures Corporation ("INV") is a Canadian mineral resource company focused on the acquisition, exploration and development of base and precious metal projects, with projects located in Brazil and Ontario. INV's primary asset is a 20.25% beneficial interest in two advanced-stage nickel laterite deposits, Santa Fé and Iporá, in the Goiás nickel camp of Brazil.

At the Montcalm property, near Timmins, Ontario, preparations are underway to commence a winter drill program when ground conditions permit access to the property. The drilling will test a number of ground electromagnetic ("UTEM") conductors that occur on the property, within the four kilometres of the interpreted strike extension of Xstrata Nickel's Montcalm nickel mine host rocks.

INV has postponed its planned programs on its two Ring of Fire properties in northern Ontario due to the current uncertain market conditions.

On January 17, 2008 INV announced new National Instrument 43-101 ("NI 43-101") mineral resource estimates for Santa Fé and Iporá, using a cutoff grade of 0.8% nickel, of 35.7 million tonnes of Indicated Mineral Resources grading 1.14% nickel, and 104.3 million tonnes of Inferred Mineral Resources grading 1.03% nickel, using all data available to October 15, 2007.

The Niquelândia property in Brazil was drilled to test for both its nickel laterite and precious metal and nickel sulphide potential. Utilizing a 0.8% nickel cutoff grade, the drilling has outlined a saprolite zone approximately 300 metres wide by 900 m long with a minimum thickness of 2 metres. INV management considers these results encouraging and is currently assessing its options to advance the property.

At the Itaporã gold target, located in Pará State, Brazil, on the NS-07 property a soil geochemical survey outlined a 3.0 kilometre long anomaly with gold values greater than 10 parts per billion (ppb). The anomalous trend ranges from 200 metres to 800 metres wide. Within this extensive anomaly, there are two discrete, significant, gold geochemical anomalies in soil. The northern anomaly, as defined by values equal to or greater than 80 ppb gold, is approximately 450 metres long, and ranges from about 25 metres wide to 200 metres wide. Within this area, gold values in soil range up to 525 ppb, with a single sample of 24,624 ppb (24.6 grams per tonne) at the centre of the zone. This anomaly is roughly coincidental with moderate induced polarization (IP) chargeability and resistivity anomalies. The southern geochemical soil anomaly is located about one kilometre southeast of the northern anomaly. Based on gold values equal to or greater than 80 ppb gold, it is approximately 450 metres long by 50 to 200 metres wide, with values ranging up to 522 ppb gold. This anomaly is roughly coincidental with a moderate IP chargeability anomaly. Drilling will commence at the property once the necessary permits have been received.

Also in Brazil, INV has leveraged its extensive 100%-owned land position by entering into a binding option/joint venture agreement with Votorantim Metais Niquel S. A. ("Votorantim") on 121 claims totalling 215,705 hectares, located in the states of Goiás, Tocantins, and Pará in central Brazil. The INV-Votorantim option/joint venture agreement grants Votorantim an option to acquire up to a 70% interest in the nickel and base metals rights of the properties. Votorantim will be the operator and can earn an initial 51% interest in the properties by funding US$5.0 million in exploration expenditures over the first three years of the agreement, with a committed first year expenditure of US$1.0 million. After Votorantim earns its initial 51% interest, INV and Votorantim may form a joint venture to further advance the properties. However, Votorantim can elect to continue to sole-fund the expenditures and earn an additional 19% by producing a bankable feasibility study within three years of earning its initial 51% interest in the properties. Upon Votorantim providing a positive development decision with respect to the properties and thereby earning a 70% interest, INV and Votorantim will form a joint venture to develop the properties.

Each party will fund its pro-rata share of joint venture expenditures (INV=30% and Votorantim=70%). If either party elects not to fund its pro-rata share of joint venture expenditures, its interest shall be diluted accordingly and if its interest is diluted to less than 10%, that interest shall be converted to a 2% net smelter returns royalty.

As a result of the agreement, INV now has all but two of its nickel laterite properties (Pium and SJ-05) in partnerships with two major mining companies.