Hard Creek Nickel Corporation

HNC:TSX

www.hardcreeknickel.com

Turnagain Project

September 2012

Emerging Giant

Over 2 million tonnes of 18% Ni Concentrate

27 year mine life

Cautionary Statement

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The Preliminary Economic Assessment (PEA) results released on October 20, 2011were authored by AMC

Mining Consultants (Canada) Ltd. The PEA includes the use of inferred mineral resources that are considered too

speculative geologically to have economic considerations applied to them that would enable them to be

categorized as mineral reserves. The study is preliminary in nature and there is no assurance the mining, metal

production or cash flow scenarios outlined in this report would ever be realized. Mineral resources are not

mineral reserves and do not have demonstrated economic viability.

This presentation uses the terms “measured”, “indicated” and “inferred” resources. We advise U.S. investors that

while those terms are recognized and required by Canadian regulations, the U.S. Securities and Exchange

Commission does not recognize them. U.S. investors are cautioned not to assume that any part or all of mineral

deposits in these categories would ever be converted to reserves.

This presentation contains “forward-looking statements”. Such forward-looking statements involve a number of

known and unknown risks, uncertainties and other factors which may cause the actual results, performance or

achievements of the company’s plans to materially differ from any future results, performance or achievements

expended or implied to such forward-looking statements. Known risks include, but are not limited to, financing

risks, commodity price risks, scheduling risks and engineering risks. Readers are cautioned not to place undue

reliance on these forward-looking statements, which speak only as of the date the statements were made, and

readers are advised to consider such forward-looking statements in light of the risks set forth in the companies

continuous disclosure filings as found at www.sedar.com.

The information contained in this presentation has been reviewed by Neil Froc, P.Eng. a Qualified Person.

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Mining Friendly Location

Turnagain

Project

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Northwest British Columbia

• Roads (pavement to Dease Lake)

• Power (Extending to Bob Quinn 2014)

• Port (Stewart - shipping concentrate)

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Local Access

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Site Access

By Air

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Site Access

By Ground

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Process Flow Sheet

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Large Project AMC Mining Consultants PEA – October 2011

Open pit mine plan

Milling 763 million tonnes

Mine life of 27.2 year

* Based on 70,570 metres of drilling in 270 drill holes

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Projected Turnagain Nickel Production

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500

600

700

800

900

1000

1100

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Nic

ke

l C

on

ce

ntr

ate

/k

t

Concentrate Feed

Concentrate SmelterRequirement

Potential ConcentrateRequirement

Source: Brook Hunt – A Wood Mackenzie Company

Global Smelter Capacity vs. Concentrate Supply

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Financial Analysis

Ni price per lb. $7.65 $8.50 $9.35

(-10%) (Base) (+10%)

NPV8 pre tax $0.71 billion $1.29 billion $1.88 billion

NPV8 after tax $0.39 billion $0.72 billion $1.06 billion

IRR pre tax 12.6% 15.9% 19.0%

IRR after tax 11.2% 13.5% 15.6%

NPV8 is depreciated net present value at a discount rate of 8%.

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Capital Costs

(US $millions) Initial Expansion Total

Year 5 LOM

Mine 244 68 406

Processing 986 406 1,392

Other & Sustaining 95 18 478

Working Capital 32 0 32

TOTALS $ 1,319 $ 492 $ 2,308

218 tonne

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Operating Costs

US$/tonne ore

Year 1-5 Year 6-21 LOM

Mining 3.11 3.11 2.52

Processing (incl. Tailings) 4.69 4.38 4.44

General and Administration 0.57 0.29 0.33

Total Operating Cost $ 8.37 $ 7.78 $ 7.29

C1 cost to produce 1 lb. of Nickel: $4.25

C1 cost is the total cost to produce 1 lb. of Nickel, including transportation costs

and smelter charges, net of byproduct credits.

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Turnagain Project Status

•Major new supply of premium quality 18% Ni concentrate

•Economically viable

•Low technical risk

•Upside for platinum/palladium to concentrate

•Very large deposit and open to expansion

Ultramafic

1 588 hectares

Resource

289 hectares

Cut-off Grade of 0.10 % Ni Tonnage Ni % Co %

Measured 227,379,000 0.22 0.014

Indicated 638,103,000 0.21 0.013

Measured & Indicated 865,482,000 0.21 0.013

Inferred 976,295,000 0.20 0.013

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Turnagain Complex

PGE Zone

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PGE Zone Geology

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Pt+Pd Soil Anomalies

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Cu Soil Anomalies

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Total Field Magnetics

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AEM Conductors

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Total Field Magnetics & AEM Conductors

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DB Target

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DB Cross Section

A B

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DB Target

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Summary

• Identify partner for taking Turnagain to Feasibility

• Turnagain PGE exploration

• Nickel and PGE exploration in BC

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Mr. Mark Jarvis, President CEO – Director

Mr. Jarvis has more than 25 years experience in exploration and development of mineral resources, both in

oil and gas and metals. After a career in financing exploration projects as a stockbroker, Mr. Jarvis moved

to the corporate side of the business in 1996. He joined the board of Ultra Petroleum, which at the time was a

small oil and gas exploration and development company with a large unconventional gas deposit. As Director

responsible for Corporate Finance, he raised the equity capital necessary to prove the concept and to

establish enough production to finance further growth with debt. Ultra Petroleum has grown from a market

capitalization of $10 million to its current capitalization of more than $5 billion. Mr. Jarvis became CEO

and President of Hard Creek Nickel Corp. in January, 2004. During his tenure the company has drilled off a

giant nickel sulphide deposit and has assembled a team of talented professionals dedicated to developing the

resource.

Mr. Gary Johnson - Director Mr. Johnson is a metallurgist with over 30 years experience in all aspects of the mining industry. In his early

career he gained broad operational and project experience in a range of operations in Africa and Australia.

Mr. Johnson spent ten years as Chief Metallurgist for a large gold producer before forming his own specialized

hydrometallurgical consulting company in 1998. During this period he worked closely with LionOre Mining

International to develop the Activox® process for treating sulphide concentrates. In 2006, LionOre acquired

Mr. Johnson’s company and he then joined LionOre as a senior executive. In 2007, LionOre was successfully

taken over by MMC Norilsk Nickel. Mr. Johnson became a Managing Director of Norilsk’s Australian

operations in operations in 2009. Mr. Johnson currently owns his own consulting company specializing in high

level metallurgical and strategic advice.

Mr. Cliff Carson, B.A. Econ. - Director Mr. Carson was President and Director of Diamond Fields Resources Inc. from May 1995 until July 1996,

during which time Diamond Fields was acquired by Inco in a $4.6 billion transaction. Prior to that time

Mr. Carson was Senior Vice President, Marketing and Sales at Falconbridge Ltd. He has also served as a

member of the Advisory Board for Nikkelverk Nickel Refinery at Kristiansand, Norway and is the past

Chairman of the Nickel Development Institute. Mr. Carson holds a B.A. with Honors in Economics from

Simon Fraser University.

Hard Creek Nickel Board of Directors

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Lyle Davis, P.Eng (Alberta) MBA – Non Executive Chairman of The Board and Director

Mr. Davis is an independent director of the Company, and chairman of the board of directors. Mr. Davis is the

principal of Ellardee Group Capital Inc., a firm he founded in 1999 to provide corporate finance, advisory and

management services to public companies. He has a Bachelors Degree in Civil Engineering from Queen’s

University and an MBA from the University of British Columbia, and is a member of the Association of

Professional Engineers, Geologists, and Geophysicists of Alberta. Mr. Davis is a director of Condor Resources

Inc. and Lock and Load Retaining Walls Ltd.

George Sookochoff, B. Comm – Director

Mr. Sookochoff graduated from the University of British Columbia in 1975 with a Bachelor of Commerce Degree.

He currently serves as President and CEO of the International PBX Ventures. He was appointed as a Director of

Hard Creek Nickel in November 2003. Mr. Sookochoff has over 27 years experience in the junior mining

exploration sector.

Tom Milner, P.Eng – Director

Mr. Milner holds a Bachelors Degree in Civil Engineering from Carleton University and a Masters Degree in

Mining Engineering from McGill University. Mr. Milner has over 30 years experience in the mining

industry. In 2003, Mr. Milner was awarded the Canadian Institute of Mining Proficiency Medal to recognize

the contribution made to the development of the Mining Industry and Institute at the local Branch level. Mr.

Milner was Chief Operating Officer for Taseko Mines Ltd. responsible for the successful 2004 restart of the

producing open pit copper-molybdenum Gibraltar Mine located in south central B.C.

Hard Creek Nickel Board of Directors