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: Status of Eagle 1.....Richard Nemis

Status of Eagle 1.....Richard Nemis

posted on Sep 22, 2008 08:29AM

I have been trying to get through to someone at the office over the last few days, hoping to get clarification on a point in Snezzer's report from the Vancouver presentation.

Great report by the way Snezzer, as evidenced by the 117 thumbs up (the most I have ever seen). There was however, a statement regarding Eagle 1 that I found surprising.

Snezzer, you reported having heard the following,



"E1 – 43-101 doesn’t include the lower grade nickel in the surrounding periodite. So, more like 5 million tons in total. But THAT’s IT. It is not getting bigger."



When I read the above, as I said, I was surprised and also disappointed. I thought the company had always claimed that Eagle 1 was open at depth and to the south.

Well, I called again today, and spoke with Elaine. I told her what my question was and she said she would find someone to speak to me.

I guess it is my lucky day, as Richard came on the phone. He did seem to be rushed, but answered my question. Eagle 1 is still open at depth, and to the south. He said, "we are drilling it right now".

It was a short call, but Richard did make an additional comment. There are some on this board who like to ridicule his past statement, "hold on to your shares", and that is not what he said today, but something similar. Let's just say, my take on his comment (having spoken with him many times, in person, and on the phone) was that there is valuable information coming.

While I never mind receiving a private message, and try to answer all I receive, I can tell you, I have no further information at this time.



Holding with confidence, Canseco

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