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

At last report, the main ovoid deposit at Voisey’s Bay contained preliminary minable reserves of 31.7 million tonnes grading 2.83% nickel, 1.68% copper and 0.12% cobalt at a total stripping ratio of 0.36-to-1. The project also hosts a large tonnage of lower-grade reserves, and ongoing drilling is adding to the potential of the Eastern Deeps zone.

Eastern Deeps is estimated to have potential for additional tonnage (45 million tonnes, according to some estimates). The latest results from this zone range up to 3.36% nickel, 1.41% copper and 0.17% cobalt over 39.9 metres.

The Voisey’s Bay project owes much to the two prospectors who found the original showing (as well as the main ovoid deposit), and who went on to manage ongoing exploration work at the property. From day one, Chislett and Verbiski viewed Voisey’s Bay as “a home-grown project,” and made every effort to hire talented geologists and campsite workers from Labrador and Newfoundland. “This project is the best thing that ever happened to Labrador and Newfoundland,” they told The Northern Miner earlier this year.

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