Yesterday's drop in FNc is a classic example of people not understanding what they are investing in...

The NOT NR did not have any negative implications for FNC, despite the fact that four holes drilled on NOTs AT1 AEM anomaly near FNC did not intercept the source of the anomaly. The NR states clearly that the drill results could not explain the strong anomaly and that deeper drillling and further testing is required. This is very different from drilling that reveals that a anomaly is not anything worthwhile...

From NOT NR:

"AT1

This short, strong, deep airborne target was tested with four drill holes
and although the favourable peridotite host rock was encountered, no
explanation of the geophysical response was obvious. Deeper penetrating
ground surveys, including down-hole probing will be carried out here to
guide future drilling at greater depths. The four holes all along local
grid line 4500E, tested the peridotite down to a vertical depth of 150
meters."

As many have pointed out, today's NR adds strength to the big picture story of the Mc Fauld's Lake ROF hosting world class Cu-Ni-PGM mineralization - we/ve got strong copper sulphide minerlization, with PGM and Ni potential yet to be determined with assays, at AT3, which is 5kms from DE1. This reinforces the potential of other nearby simlar signature/channel geophysical anomalies, including those on FNC's and PRB's ground, and much closer to DE1, as being the same type/scale of mineralization.

I would suggest that those looking to take aposition in FNC take advantage of the current SP weakness. I did speak with Peter Smith on Monday afternoon. As usual, I found him to be easy to talk to, and quite willing to speak (in a linear manner) in detail about what FNC is doing. The delay in the start of the drilling program has to do with delays in getting all the gravity and pulse EM geophysics done at 50m spacings on the east-west grid (they are working together with NOT on this). However, he is happy with the way things are going and said everything is progressing according to plan. He is still planning to be drilling before the spring break-up.

Regards,

B.