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/PRB jv Project - Drilling on the way

NOT/PRB jv Project - Drilling on the way

posted on Jun 25, 2009 05:46AM

This jv project is highly perspective of new discoveries in short time. VTEM/AEM conductor and gravity tests were confirmed that Chromite trend is passing through NOT/PRB jv property. It is also showing the concentration of anomallies in 800m strike lenth connecting two already discovered Chromite zones (south-west & north-east). Big Daddy Chromite discovery is about 200m away while Black Thor Chromite discovery was about 1Km away from this jv property to be explored.

"...mobilization of field crews will commence in the next few days to begin the Company's summer drilling campaign on its McFauld's Lake properties..." (NR on June 23, 2009)

It would take a day or two in preparation for drilling. So, drilling is expected to commence as early as today. David planned to be on-site on Tuesday this week and he himself wants to validate Chromite intersections from the first/second drill cores.

"...The program will comprise eight holes totaling approximately 2,100m and will focus on the potential chromite horizon, as well as four additional geophysical targets that are prospective for nickel-copper and the platinum group metals..." (NR on June 23, 2009)

"...Noront has recently reassigned one drill to test for downward continuations or extensions of the Eagle One Deposit...." (May 26, 2009)

There was no detailed information on four additional targets, but all three remaining individual claim blocks appear to be targeted for drilling. Ni-Cu-PGEs, in theory, are found at the end of Chromite trend. Eagle one is at south end and unexplored north jv claim blcoks are at north end. As well, the south-west jv properties near (450m away) from Eagle one discovery could also be subject to drilling. I think Noront has a vast interest in exploration activity in this jv property. Last year Probes' drilling wasn't deep enough. Please see the NR from Noront, they intended to test for downward continuations.

Freewest and Noront market caps are about 10 and 16 times of Probes' respectively. Good assay results will benefit investors on both companies, but I believe PRB has a larger buffer to move our sp UP upon good assay results.

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