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: MNDMF ROF update

I went to a forestry session last evening in North Bay (you think the mining sector is screwed up, it is no where as bad as the forest sector)

Minister Gravelle was introduced and there was not one single 'clap'. Like any good politician, he seized the opportunity and thanked the 80 or so industry people in attendance for their warm welcome.

The only comment he made of interest in his remarks was that his Ministry is the 'Economic Development' Ministry for the North. He left immediately after his remarks and took no questions. His deputy also left about 10 minutes later.

At the break I was able to speak to a young woman with MNDMF and she agreed to pass my calling card on to the 'sole' mining body looking into the ROF out of the Sudbury office. I stressed my concern that unless the goernment moves on the ROF another Canadian asset will be sold south of the border. She seemed to indicate that they were taking a wait & see attitude on the issue.

I will keep the board notified of progress that I can gleen from the ED officer.

From the Home of the G8

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