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: Majors involvement

Support you 100%. If my calculations, combined with some of hoov's, are in the right ballpark, then the threshold for a major(s) to demonstrate serious interest could be somewhere between 15 to 30 Mt of proven chrome ore, if the composition of the chromite stays around 50% Cr2O3. The first ROF player to reach this plateau, should be their highest priority target. However, this may be somewhat tempered by the land positions of others as well. Right now we have NOT, FWR, SPQjv, and don't rule out FNC as potential candidates.

Intense competition may erupt, once the next level of proven and probable reaches >40 Mt.

The above are my best "guesstimates" at this time, subject to change as additional information is released by these companies. As to timing, the race has begun!!!

A supporting DCF analysis could create a lot more confidence, but I don't have all the input required to perform this calculation at this time.

I thought a month ago that the chrome ore would be the icing on the proverbial ROF cake. I now think that the Ni/Cu/PGE and/or Cu/Zn ore will play that role. How about a few diamonds sprinkled on top for added flair. Would make a nice Bcake for RN's next Bday!!

Respectfully yours

geoprof

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