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: Area plays

Keep in mind when you are discussing the likelyhood of other area players hitting that the odds of them hitting are, in fact 100% in several cases. Probe, UC, Spider/KWG, Mac already hit VMS and hit it prior to NOT.

One might consider NOT's other staking to be "area plays" as well, including their JV's. Will they hit? Well, NOT are on record as saying they are seeing similiar mag signatures in a whole bunch of places, as are others. Many others have already hit. Odds? Very high in my mind cause the others that hit VMS were not even aiming at the look alike signatures and now they have much newer aero surveys with much tighter spacing and much more modern equipment and the signature of existing glory holes.

Here is my best guess FWIW. NOT will hit more pods. So will most everyone else. I say this because that is exactly what has happened so far. Everyone that busted dirt up there has hit something. The only question will be the tonnage each winds up having. That there will be a mining camp up here is, to my mind, already an absolute given.

This contest for ore in The James Bay Lows is going to wind up very much like a company golf tournament where everyone gets a trip to the table, rather than a horse race where the first one across the line wins.

NOT is my largest. Also have UC for their JV and 10 VMS occurences to date. Also have Probe for their little hits and land package and their NSR with Agnico Eagle. Still doing DD on a bunch of the others. They are all pretty well at fire sale prices right now.

NOT are headed to the prize table for low gross so far, UC for longest drive and Probe and Fancamp for closest to the hole. The prizes will start being handed out next fall or so, cause ya gotta play about 200 holes first. Lotta golf.

The Trucker

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