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: Shareholder Rights Plan - jacki

According to the latest MD&A on SEDAR, the SRP expired in October 2009 (and was not renewed):

"In October 2007, the shareholders of the Company voted to adopt a shareholder rights plan (the “Rights Plan”). This Rights Plan expired in October 2009."

(MD&A published July 29 , 2010, page 7)

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