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: Re: we are currently 1/3 or 1/2 of voiseys

The other thing to keep in mind Snug is that VB had 28M outstanding shares, we have 173M-add another 60M if the FWR deal goes thru. So SP will not fly the same way. However, we now have a MC of 398M fully diluted when 10% In Situe is somewhere between 600-900 for Eagle's nest alone. So unless you are a trader or your portfolio is uncomfortably tilted in Noront, and you have the time, I see no big reason to move money out right now.

Just my opinion of course,

G.

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