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: slide 35 of 37

Under the heading of delivering value, we get these two points:

-- reduce share price volitility

-- factual disclosure - eliminate rumors

Anyone want to take a stab at explaining how those two items deliver value....take a looksy at a 1 year chart of NOT. Are they suggesting that they are making this a great buy (delivering value) by keeping the share price low (but stable) and not allowing any rumors, which may cause the share price to go up? Well, they have certainly done a great job at doing that.

As a shareholder, I just wish they would focus more on getting results and disclosing those results to shareholders and potential shareholders.....rather than say....worrying about if the stock may run up on some rumors

Not only has this management done nothing to increase shareholder value.....they seem to have done much to push it and keep it down.

Moving right along to the next slide....we get corporate structure....where it shows a market cap of about $300 million. I believe the current market cap is more like $200 million....which is less than what FWR got taken out for....on their whole 4 claim blocks.....and even those shareholders think they got shafted...as did the SPQ shareholders who only received $125 million for about a 26% holding in one chrome deposit.

Delivering value....ha....

Here is my suggesting for delivering value....

fire this whole management team

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