Nickelore Limited

Nickelore Limited (ASX:NIO) Quarterly Activities Report to Dec 31, 2008

Nickelore Limited (ASX:NIO) report that a statutory mining proposal for a demonstration plant to test the leachability of the laterite material at the Canegrass Nickel Cobalt Project ("Canegrass") was advanced during the quarter and will be submitted next quarter.

Emerging nickel producer Nickelore Ltd (ASX:NIO) has opted for a 25,000-tonne heap leach demonstration plant at its Canegrass Nickel-Cobalt Project in Western Australia's Eastern Goldfields.

Emerging nickel producer Nickelore Limited (ASX: NIO) is pleased to announce completion of the Share Purchase Plan, which raised a total of $0.25 million via the issue of 3,621,467 fully paid ordinary shares. In addition, the Company has raised a further $0.27 million from the sale of listed investments at a profit.

Emerging nickel producer Nickelore Ltd (ASX:NIO) is pleased to announce the first stage of a drilling program at the Goongarrie East Project in the North East Goldfields. The Company acquired 100% of 318 km2 of the tenements (all of which have been granted) from Monarch Gold Mining Company Ltd in August 2007.

Due to the holiday period, the Board of Nickelore Limited (ASX:NIO) has extended the Company's Share Purchase Plan closing date by a week to 3.00pm WST/WDT, Monday 12 May 2008.

During the March quarter, Nickelore Limited ("Nickelore") (ASX: NIO) completed a Heap Leach Scoping Study ("Study") for the Canegrass Nickel Cobalt Project ("CNCP"). The Study has confirmed the potential for a 20,000 tonne per annum nickel plant generating a positive net cash flow (before tax) of in excess of $182 million a year. Nickelore has assembled a strong professional team to lead the development of the project.

Emerging nickel producer Nickelore Ltd (ASX:NIO) is pleased to announce that it has raised a total of A$1.02 million from a sale of the nickel rights in the Bardoc Nickel Project (BNP) to Minara Resources Limited, and a small capital raising book build. The purchase agreement signed today is expected to complete on 4 June 2008 subject to the parties' satisfaction of usual and appropriate conditions precedent.

Emerging nickel producer Nickelore Limited (ASX:NIO) is pleased to announce an invitation to shareholders to participate in the Company's Share Purchase Plan.

Emerging nickel producer Nickelore Ltd (ASX: NIO) has today released the results of its Scoping Study for the Canegrass Nickel Cobalt project.