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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Lar:

Jim has mentioned to me - no UC drilling until his private placement is complete. Furthermore, I don't believe any meeting has yet taken place between the JV partners to pinpoint drilling targets.

"And they certainly haven't been doing any ground geophysics southwest of Eagle 1."

Absolutely correct. The only geophysics done by Jim is in McFauld's West.

Snug

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