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: No drill results and consequences.

I believe that is why we have not sold out yet. Nobody wants to offer enough for Noront owners so they continue till someone does. Its a race to a balance of resource against dilution. So far the resource is winning and the SP is losing. Revaluating the deposit with an infrastructure access should be the quickest way to higher SP, unless a large amount of land locked resource is found. I will take the corridor please. Then we can explore with a higher SP and less dilution. Its the agreed upon corridor(s) that will come first. SOON I THINK. and that means less than 2 months.

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