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: A point of Clarification...

Maximising Windfall in the next few months, with a strong gold market, and selling say a 40 % interest with a buyout option does two things: first it can virtually eliminate the cash burn portion for Windfall; and second it could provide enough cash to take RoF out another 2+ years. If you think the world is not going to grow in the next two years, you should not be in any equities I know of. We will get some idea of RN's direction from the AGM, but as to "buy, sell, or hold" at this price it looks like an amazing opportunity that it was in retrospect not at $7. A general market recovery at this point, ev en modest, will provide the liquidity for renewed interest in juniors, and the gold/pgm component should help the short term sp regardless. Selfishlly, I am hoping it goes even lower, but I believe we have seen the flushout here with the margin calling process done for now. I have been adding selectively to beat up juniors in gold and copper, at the risk of being a little early. Canada has a great opportunity to provide leadership on the short selling issue , hopefully the countries not run by Wall St will not be bullied on this issue.

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