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: A few interesting points to keep in mind

So I will become a Cliffs Shareholder or a NOT shareholder? Uhmmm..let's see.

"Hate" the Americans for what they have done to the world economy but love the upside potential of NOT.

But is there no way FWR will not go to NOT or Cliffs? If shareholders vote against Cliffs and NOT doesn't get enough shares tendered, what will happen then?

I'm really, really having a difficult time deciding what to do but if anyone could explain the above scenario it might clear things up for me.

Regards

Jean

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