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: NOT/Cliffs
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Cliffs would be the ideal partner for NOT:

Lots of cash

They typically take a 10% position in a venture and earn their money performing the mine development and mining for a management fee.

Cliffs have lots of experience (and confidence) in Canadian mining.

NOT desperately needs a major to take a minority position to prevent a major buying out the assets at fire sale prices.

My money says more nickel won't be announced until Cliffs are in for their 10%.

AFS

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