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: probe provides update

"We've had a pretty reasonable explaination that the jv was done to settle with Noront over legal questions Noront had with Probe."

Was that explanation "official" via one of the companies or is it hearsay?Perhaps,knowing in advance that PRB was losing one jv partner,Palmer simply went out and signed another.

cs.

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