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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1701+ 2.710 + 050 = 4.461 M NOT shares today.

Also:

PA update by Mar31/11 per my prior chat with Semple.

Includes Metallergical results (necessary for definition of underground concentrator (underground), per todays permit application);

Will not include AT12 assay result (per Semple);Q3/11

PA updater by Mar 31/11 Will update earlier PA (please re-read) and will be described ( my words) as a prelim. economic feasibility.

Early mined minerals provided the bank financed infastructure cashflow for NOT;

ie : sell Cr to Cliffs as early input to the Cr processor;

Yes , i think a deal with infastructure (ONT) : NOT (faster /feasible timeline; env. stuff; ferrocrome cashflow; etc) will happen - backed up by the revised PA (see my previous posts).

$4.75 - minimum.

Best, Peter

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