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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You're absolutely right, Frank; The whole purpose of this exercise was to try to put some minimal values to what we have. It is all speculation at this point, but by putting these minimum values on things, and at the same time explaining some of the upside variables as you are doing, it does put a set of values to the huge upside we are looking at.

And just to clarify; I did add things up a bit wrong as I put a value of $700 on 3 1/2% nickel; Should have been $350.

Regards

K

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