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: I have noticed a trend in the posts with regards the future price....

For the record Joe, I agree 100% with your post. When I posted that we were at risk of a hostile take over, and that a $2.50 offer could be made, it was based on our closing share price of $1.50. I was trying (but did not do a very good job) of trying to convey the danger of our low share price and the need for the company to increase our SP asap. I believe the company is doing the right things to accomplish this: Updated 43-101, done 9 months sooner than originally planed, done to support a much higher share price now to reduce the risk of a hostile take over. Deep drill on site with a first job of drilling a deep hole to 2000m, some buying in the public market by WES.

However, I believe the strongest thing we have going for us in a hostile take over is us share holders. I have never seen a group work so well together. Rest assured that if put to the test, I believe most share holders would strongly stand behing this company and I would be willing to lead the charge again if a phone campaign was needed. Any company wishing to try a hostile takeover should read how retail rallied during the proxy war, they may think twice about trying it if they understand how united we are behind this company.

I hope this clarifies my position about a $2.50 hostile bid. For the record, I do not believe for one second that an offer this low would ever have a chance to go thru.

Glorieux

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