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: Deep drills (Babjak style)

Here is a chronological synopsis of the deep drills:

April 26

Both deep drills are now on site and are fully crewed and deep drilling has begun with one of the drills.

May 12

Both of the new deep drills, designed to test Eagle's Nest to a depth of over two kilometers, are producing core and there are three additional drills performing infill drilling and testing for high grade mineralization along structural trends.

June 3

The Company has commenced drilling at prioritized geophysical targets proximal to the Eagle's Nest deposit Currently we have six drills operating with five dedicated to the Eagle's Nest program. The sixth drill will focus on regional target follow up...

*(Nice to know that regional exploration drilling started 1.5 months ago, should have core at the lab by now!)*

July 20

Two holes are currently underway to test the promising structural convergence zone at depth at Eagle's Nest

*Like Babjak, I also believe that the Hole 49 extension is completed and Borehole geophysics were done. Now they are following that up with 2 holes testing the convergence. (refer to diagram on website that shows the deep holes on either side of the Nest with various wedges intercepting at depth) I don't believe they would be testing this structural convergence a la hole 49. Which leads me to ultimately believe they came up with excellent results from their deep borehole testing.

Comments would be welcomed!

GLTA

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