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: Our Preliminary Assessment (PA)...
LTGoldBull2:"These metals prices must really enhance the MPV and IRR of our project." & " the credits gained from the other metals must really lower the projected average operating cost" Not really. Palladium increased but copper dropped, more than off setting palladium's gain. NOTE copper constitutes more than either of palladium or platinum. Eagle 1 deposit's 43-101 data from 2010 March 9 news release. Comparing value from March & April 2010 to today's. Using Kitco Calculator (http://www.kitco.com/pop_windows/kitcorockcalc.html). Indicated resource of 6.9 million tonnes grading: Time $/ton Net $ 2010Mar 640.46 4,416 million 2010Apr 752.82 5,194 million 2011Jan 600.50 4,143 million Inferred resource of 4.3 million tonnes grading: Time $/ton Net $ 2010Mar 470.26 $2,021 million 2010Apr 551.68 $2,372 million 2011Jan $437.39 $1,881 million Total $ for both grades: Time 2010Mar 2010Apr 2011Jan Value $6,437 million $7,566 million $6,024 million Shares 168 million 168million $185 million Per share $38.31 $45.04 $32.56 Discount to 5% $1.91 $2.25 $1.63
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