Location of Holes 50-58

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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profitz

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Location of Holes 50-58

posted on Aug 25, 2009 01:16PM

At this point, we dont know precisely the location of the step out holes. I would think that when we get the assays, that we will then also get the locations.

I was wondering why NOT is being so secretive about the location of these step out holes. But then, when the luncheon presentation was posted, perhaps therein lies a part of the answer as the presentation indicates that one of NOT's objectives for the next 100 days was to implement a M&A strategy.

Now, some have speculated that the step out holes trend south towards FNC and others speculate that they trend north and west toward the PRB/NOT JV claims. I would think that if NOT intends to make an acquisition that they would want to keep the SP of their target as low as possible. Most likely they would want to target a company that they feel contains an extension of Eagle, if they can get a good deal on it. But if they disclose the whereabouts of holes 50-58, then it would very likely affect the SP of PRB or FNC and the cost of a potential acquisition goes up.