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: Someone is cooking and I like the smell

There really is not a problem as far as tax loss,etc goes. I have done the exact thing many times in the last ten years with so many oil/gas companies converting to trusts and spinning off exploration assets. At one time there was probably three per month showing on my portfolio, but at year end it was quite simple.

Regards

K

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