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: My only regret is...

Dony: This is not a challenge to your opinion regarding the BOD, rather my own opinion about what should happen. I hear what you are saying about the BOD; I didn't like the ousting of RN when it happened or how it happened. I have since decided that I have to play the hand that I'm dealt, for the time being.

We have been going through a lot of turmoil in the last year which hasn't helped us much. The FWR matter has created a lot of interest in NOT and I'm not sure thats a bad thing. I know, I know the bid failed and probably the approach wasn't the right one, but mistakes are made....

I'm not sure that more strife is what NOT needs at the moment; I would prefer to step back for a bit, take a breather over the holidays and see what the BOD comes up with. It seems that the FWR vote may take this in another direction, again! I expect the BOD will be very active in that time.

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