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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I was confused when I read it and could not believe they would NR the gold results before a 100m step out. So when I called, this is what was explained to me.

This is what we know so far. There is lots we do not know. For instance, we could have a big pool of sulfides at 600m that we just have not drilled yet. As Lar would say, "absence of evidence is not evidence of absence"

Glorieux

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