Scandinavian Minerals Announces Further Positive Drill Results From Kevitsa, Finland Nickel-Copper-PGE Property

Scandinavian Minerals Limited today announced remaining results from last year's infill drilling program at its 100%-owned Kevitsa, Finland nickel-copper-PGE property. This second and final batch of results follows the interim results released last November (see Press Release dated November 15, 2006).

The drill program totalled 11,450 metres and was carried out in the summer of 2006. It comprised 33 holes, consisting of 26 new holes and 7 extensions of previous holes. As with the interim results, the results of the remaining holes closely match results from previous drilling and indicate higher grades with increasing depth in some areas. Many holes recorded multiple intercepts. Notable intercepts not previously reported include:

- KV34: 124 metres at 0.39% nickel, 0.83% copper, 0.018% cobalt and 0.91 g/t Pt+Pd+Au

- KV36: 164 metres at 0.35% nickel, 0.50% copper, 0.015% cobalt and 0.57 g/t Pt+Pd+Au

- KV47: 118 metres at 0.44% nickel, 0.30% copper, 0.017% cobalt and 1.02 g/t Pt+Pd+Au

- KV48: 70 metres at 0.43% nickel, 0.35% copper, 0.017% cobalt and 0.94 g/t Pt+Pd+Au

- KV50: 144 metres at 0.38% nickel, 0.33% copper, 0.015% cobalt and 0.90 g/t Pt+Pd+Au

Mr. Peter Walker, President & CEO of Scandinavian Minerals, commented "We are delighted with these excellent results. As with earlier holes in this program, the results correlate closely with previous drilling and a number of holes show significantly higher grades over extended intervals than those assumed in the pre-feasibility study. In addition, the two most northerly holes encountered mineralization beyond the currently planned pit limits."

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