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: Windfall and others to be separated from DE

That makes us both optimistic ! In due respect, I believe that commiting the visions to the written MD&A is a major step forward in terms of risk perception because it prepares us for execution, whereas earlier statements provided direction that appeared quite uncommited in timing. The statements regarding the execution vision for Cr are in fact quite new and address in part marketing, operations and implications for financingThe body language is in clear focus. Not all will se it that way, but I prefer the smell of coffee to just hearing someone in the kitchen at 5 in the morning. Us optimists really have to hang out . BTW, pre-market is the "loss-leader" of the trading world.

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