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: Conversation with Richard Nemis

Conversation with Richard Nemis

posted on Dec 20, 2007 09:38AM

I had been trying to speak with RN since the last NR, but had not managed to call when he was available.......should have left a message because he always calls back when he gets a chance.

After exchanging pleasantries, I told Richard that I was not concerned about NOT's future, and he said, "that's good because I'm not either".

I then asked him some details about Dr. Mungall's comments in the NR. I wanted to know if there were any concerns regarding Dr. Mungall's use of the term " somewhat discouraging", at one point, and then "slightly problematic", at another point. Richard said there is no concern. Overall Dr. M's report, and opinion is very positive. He was just hedging the positive comments, as experts tend to do. Richard then said, "Dr. Mungall, and the people above him, think the Eagle one strike is part of a big system". I'm not sure what RN meant by "the people above him", but because I trust Richard implicitly, I take that comment to be very valuable. I firmly believe the second pod will exceed the first in size and maybe grade as well, but that is just my opinion.

Season's greetings to all, and I wish you all wise investment decisions going forward.

Regards, Canseco

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