CaNickel Mining Limited, Toronto, On. (Formerly "Crowflight Minerals Inc.") TSX: CML, Frankfurt: CMIC is a Canadian junior mining company that owns the Bucko Lake Nickel Mine near Wabowden, Manitoba.

In addition to the operation at the Bucko Lake Nickel Mine, CaNickel owns or has under option an additional 800 square kilometres of advanced-stage base metal exploration properties in the Thompson Nickel Belt in Manitoba and the Sudbury Basin in Ontario.

Company highlights include:

• First shipment of concentrate occurred in February 2009
• Base case production scenario of 1,000 tonnes per day to produce on average 11.1 million pounds of payable nickel per year.
• Potential for expanded through-put scenario illustrates potential to increase production to 1,500 tonnes per day with feed from Bucko and satellite deposits located within 20 km of Bucko. Further exploration activity and study are required
• Additional mine development opportunities within portfolio of advanced-stage exploration properties

HIGHLIGHTS FOR THE THIRD QUARTER OF 2011

• Net loss for the three months ended September 30, 2011 ("Q3 2011") was $7.6 million or ($0.01) per share compared to net loss of $14.6 million or ($0.03) per share in same period last year ("Q3 2010").

• In Q3 2011, the Company mined 38,846 tonnes of ores and milled 37,035 tonnes of ore to produce 661,394 pounds of nickel compared to a total of 53,518 tonnes of ore mined and a total of 58,605 tonnes of ore milled to produce a total of 989,265 pounds of nickel in Q3 2010;

• Arranged additional US$15.0 million debt facility in Q3 2011 and a total of US$20.0 million debt facility was arranged during the nine months ended September 30, 2011. As of September 30, 2011, a total of US$17.0 million debts were advanced.

• Granted by the Manitoba government a revised Environment Act Licence to construct and operate a land based tailing management area which could store all tailings from the Company's Bucko Lake Mine over its existing mine life; and,

• Working capital was in a deficit position of $13.3 million with cash and cash equivalent of $2.1 million on hand as at September 30, 2011 compared to working capital of deficit of $24.6 million with cash and cash equivalent of $4.1 million on hand as at December 31, 2010.

OUTLOOK FOR THE THIRD QUARTER OF 2011

Due to several design issues and the delay of equipment delivery, the commissioning of the paste backfill plant is expected to be in first quarter of 2012. The completion of the construction of the new tailing facility phase I is expected to be in the first half of 2012.

With all mining equipment now in place, the Company expects that the operation at Bucko Lake Mine can be ramped up to reach 78,000 tonnes of ore for the fourth quarter of 2011. The operation unit cost will be further reduced due to the improved production rate.