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: WHATs NOT To Like !

I have to dispute that statement, Ed. We had the runup last year in anticipation of more nickel than we actually found. For a while it looked like that nickel was not going to prove economical, and the SP floundered to where it bottomed. It now appears that we may have the necessary nickel to justify the infrastructure after all, and when that moves into the proven category we will once again reach those highs. The added fact though is that once infrastructure is jusified, all these little extras that we have been finding suddenly have value also, and we can suddenly find ourselves sitting on top of a multi mine camp overnight. At that point, the sky's the limit.

Regards

K

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