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: From DonnyParks...

I got to see the original report for this and there was a graphic attached I cannot get the graph to cut and paste here. However, this nice graph has all the nickel mines lined up by tonnage. They put Eagle's nest at 20M tons which ranked it above Raglan mine on the graph. How they got to 20M tons is beyond me to be honest. I looked at the 3D modelling video, thinking about the 43-101 for Eagle 1a and at best I see about 12M tons-and I am usually over optimistic.

The only thing I can think of is that the analyst's breakfast that they attented revealed some other info via BHEM results that we do not have.

However, right or wrong, this is a great report and as it circulates, should be very helpful to our SP...Thank you Dundee!!

Is this Chapter 2 that the video discussed? If we have 20M tons at Eagle's nest, this would explain why the NOT management feel very confident that this merger will go thru.

Glorieux

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