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: McFaulds-Ni/Cu Targets

Does not the JV NOT/FWR deal structure, and perhaps the thinking on the relationship between DE1 and the nearby anomalies south and east of DE1 on both NOT's and FNC's ground suggest otherwise? It would seem that the way the NOT/FWR 50/50 deal structure indicates that although more of the anomaly apears on NOT ground, that it may plunge south and maybe east into FWR ground? Why else would they do a 50/50 deal? Is this also not a 'parallel' to the possible DE1 area structure which also appears to plunge to the south - southeast? Or am I misunderstanding what you mean about the tops and basal structures?

Regards,

B.

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