HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Message: WINDFALL RAMP BUILDING

"Any pre-ramp WL drill results, although they might intersect significant gold mineralization, will not be meaningful because they are unlikley to add anything to defining or indicatiing the potential resource"

Any "significant" mineralization is significant in that it is another pointer to value and location. In terms of it defining a resource, though it may not be as likely given the current knowledge, at this point, you cannot rule out WL containing areas with a more predictable mineralization. We just may not have found them yet.

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