PACIFIC COAST NICKEL ANNOUNCES CANCELLATION AND ISSUANCE OF STOCK OPTIONS

Vancouver, BC, November 6, 2009 - Pacific Coast Nickel Corp. (NKL: TSX-Venture), announces, subject to TSX Venture Exchange approval, that it has cancelled an aggregate of 1,600,000 options that were issued to directors and consultants in July 2007 in exchange for the issuance of options on November 6, 2009 (the "Options") to such directors to acquire up to 750,000 common shares of Pacific. The Options vest immediately, are exercisable at a price of $0.10 per common share and expire on November 6, 2014, subject to regulatory approval. Any shares issued on the exercise of these stock options will be subject to a four-month hold period from the date of grant.

On behalf of the Board of Directors

Jim Walchuck
Chief Executive Officer,
Pacific Coast Nickel Corp.
Telephone: 604.688.8913

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.