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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Hi Sudbury,

I appreciate your concerns. I wonder what you expect the result to be from an N.R. as you describe it. It might have some calming affect to issue a statement that there is no material reason for the drop in sp, but don't you think most people know that from what has been posted on this site. On the market, I can't say I see any real threatening volume of sales that indicates the contrary. I think we are all frustrated with what seems to be a very long wait between N.R.s. If I reflect back to this time last year approximately, I was talking to R.N. and he was thrilled about upcoming news (before ROF existed). It was the same story then, lots of promises of news with things always moving slower than anticipated. I don't see any difference now except that we have higher expectations. I don't think that we are purposely being neglected, as another poster remarked, they are going 24/7 and are spread really thin. They are likely way too busy with formulating N.R.s to spend time on reports that don't warrant the time. I would agree with you that it would be nice to have more communication, but I know what I'm like when I'm up to my ears in work and then someone asks me to do one more thing. Hopefully we won't have to wait much longer.

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