Wildcatter,

What a surprise! Someone from ISM has finally considered that the boundary issues I have brought forward many times over the years that surround ISM’s L-2 could very well be a big headache for ISM’s progress with this promoted Company Maker Property. Could this be the real reason ISM has done none of the recommended drilling Micon put forth in their last Ni 43-101? I don’t know why you would suggest this is an issue for LBE though, as LBE has never had any intention to ever mine their portion of the L-2. It is too small a property to do anything with, not to mention the issues of low grade recoverability % of the L-2 mineralization. Financially, those grades don’t work for LBE’s Mill and they need much higher grade average from their projects; something of which the L-2 just doesn’t have by the information supplied by the last ISM Micon Ni 43-101 Resource Report.

With LBE holding the “ace” card with their two properties on the west and south side of ISM’s L-2, along with the Night Hawk Lake boundary being on the east side, there is not many meters for ISM to work with to even contemplate putting in a pit that can get to the substantial part of the Resource defined to date. Bring up the property "1213131" the L-2 sits on and you will clearly see how small this claim really is. Try centering the pit over the Resource defined within the property boundary, then think of the road allowances needed, the angles of the pit, the Night Hawk Lake etc. Simply put, the way things sit now, in my opinion, ISM is in a complete stand still and will not be able to do a thing with L-2 unless LBE gives their okay, and no doubt it will be on all of LBE’s terms, if ever.

I wouldn’t needlessly worry or concern yourself on the boundary issues at this point though. Only one question needs to be answered with the L-2 and L-1 projects. It all comes down to recoverability % of the low grade. In my opinion, and after such a long wait, if ISM doesn’t show the recoverability % of the major part of the L-2 and L-1 low grade Resources in the upcoming Micon Ni 43-101, investors will have been given a sure sign ISM management has no confidence in these projects going forward.

Best

Nickel