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: Korelin Economics Report

Good observation. And, while I do not want to be picking over words or semantics, references to an "area play" suggest the value attaches to some yet undefined group of properties within the area. That is no longer accurate because the network of JV's that RN has structured makes NOT clearly the centre of strategic value and growth. Area resource yes, area growth potential yes, long term value play is clearly NOT, as opposed to a basket. This does not invalidate owning others in the area, but NOT is clearly the critical centre of value and growth and likely will remain so.

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