Our weighted average metal content

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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Milsy1

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Our weighted average metal content

posted on Feb 18, 2008 03:37PM

I spent some time today inputting the information from Genuity report (All assay results for Eagle One drill holes) onto a speadsheet. I also included all assay results that have been released since the Genuity report was completed.

The purpose of this exercise was to determine what our current weighted average metal content presently is. (Again this analysis only includes actual assay results to date and does not include visuals)

So, here is what I have determined to be the actual weighted average metal content:

CU - 1.16%

NI - 2.20%

PT - 1.10 g/t

PD - 4.01 g/t

AU - 0.35 g/t

AG - 3.49 g/t

I know that many have stated that our NI equivalent is 3% but I wanted to verify for myself. With the above, our NI equivanent is actually 3.1%. (I should have to just listened to "Quiz" to begin with who stated a 3% NI equivalent). Having said that, personal DD is important.

Using current metal prices, our average value per mineralized tonne is $816.60. Having said that, this is using current metal prices and valuation will typically utilize historical longer term pricing.

I suspect that in the very near term, there will be plethora or new assay results to update my weighted average spreadsheet. Not to mention a Rhodium component that will move our value per tonne north.

Some other interesting tidbits from the spreadsheet:

Highest CU % - 10.9% over 3 meters - hole 5

Highest CU intercept - 2.62% over 65.2 meters - hole 5

Highest NI % - 8.65% over 3 meters - hole 5

Highest NI intercept - 5.52% over 65.2 meters - hole 5

Highest PT g/t - 40.79 g/t over 3 meters - hole 5

Highest PT g/t intercept - 122.37 grams over 3 meters - hole 5

Highest PD g/t - 22.42 g/t over 2.8 meters - hole 7

Highest PD g/t intercept - 9.14 g/t over 65.2 meters - hole 5

Highest AU g/t - 9.39 g/t over 3 meters - hole 5

Highest AU g/t intercept - 3.87 g/t over 35.6 meters - hole 27

Highest AG g/t - 14 g/t over 1.6 meters - hole 11