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: MPP Michael Gravelle sets things straight...

Make no mistake about it. The smelter will be built where Cliffs wants it located. And that will be the most cost efficient location. If Timmons has a smelter, it may only amount to another brownfield site if the existing infrastructure does not provide significant economic benefits to building a state of the art modern facility designed to refine chromite. Power and water and mega amounts of both are needed. The only influence that politicians can have on the smelter site is leveraging their contribution on transportation infrastructure to the Ring of Fire. Even the Minister will have a hard time getting a company the size of Cliffs to bend to his will.

In closing, to all those notaholics who have been here for the last three or four years, isn't it sad how we have been so completely robbed of the crown as "King of the Ring"?

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