As per the FWR release:

- Drilling delineates potential mineral deposit at Black Thor occurrence ranging from 50 million to 60 million tonnes in size, with a grade between 31% to 38% Cr2O3

- Black Thor occurrence has potential to host between 278,000 and 406,000 ounces of platinum as well as between 260,000 and 381,000 ounces of palladium

Most of you here know that I am a numbers guy and as such I would like to offer the following little bit of number crunching as it pertains the the FWR exploration update.

First, a couple numerical facts:

1) current Platinum spot price: $1,360.00 per ounce

2) current Palladium spot price: $335.00 per ounce

3) 1 Troy ounce = 31.1 grams

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By virtue of the update offering ranges (ie 50MM-60MM tonnes and ranges for Pt and Pd credits) there are various possibilities that might come to fruition if in fact these ranges turn out to be accurate. (in light of not having a 43-101 complete yet)

Platinum

If the tonnage is 50MM tonnes and we use the low end of the Pt range provided (278,000 ounces), the value per tonne of ore for the Pt is $7.56 with an average .173 grams per tonne.

If the tonnage is 60MM tonnes and again using the low range of 278,000 ounces, the value per tonne Pt is $6.30 with an average .144 grams per tonne.

If the 460,000 ounces of Platinum is recognized, then we have the following:

Again, at 50MM tonnes the value per tonne of ore is $12.51 with an average .286 grams per tonne.

At 60MM tonnes, the value per tonne of ore is $10.43 with an average .238 grams per tonne.

Therefore, as per the N/R and the above calculations, the value of the Platinum will range from $6.30 - $12.51 per tonne.

Palladium

With a tonnage of 50MM and using the low end of the Pd range (260,000 ounces), the value per tonne of ore for the Pd is $1.74 with an average .162 grams per tonne.

At the 60MM tonne mark with the low end of Pd, the value per tonne of ore for the Pd is $1.45 with an average .135 grams per tonne.

On the higher range of Pd (381,000 ounces) at the 50MM tonne level, the value per tonne of ore for the Pd is $2.55 with an average of .237 grams per tonne.

At the 60MM tonne level with the high range for Pd, the value per tonne of ore for the PD is $2.13 with .197 grams per tonne.

Therefore, again as per the N/R and the above calculations, the value of Palladium wil range from $1.45 - $2.55 per tonne.

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Combining both the Pt and PD, there is a best case scenario of $15.06 per tonne of ore and a worst case scenario of $7.75.

It remains to be seen if these elements can be extracted at a cost that will turn a profit based on the above.

Cheers,

Milsy1

Note: I appologize that the above is not laid out in the most orderly fashion but hopefully it is still understandable.