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: NOT NEWS
think you are reading the NR though 'smoke coloured glasses'... Read the entire NR and put the statement:"They are reviewing their historical ownership interests and contractural arrangements, and are unsure as to the outcome, as to whether it will be detrimental or beneficial." into the context of the complete NR. The final words of that statement comprise part of the normal legal disclaimer that are required for such news.

The mention of PRB postponing its drill program on its properties adjoining NOT's E1, to focus on its other properties in the area, is strongly indicative of an imminent arrangement that will see NOT become operator and partner with PRB on these properties.

The tone of the NR is positive and suggestive of mutaully beneficial agreement. Both parties will be keenly aware that those properties are worth more as part of larger package, than they are in isolation.

Regards,

B.

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