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: It's people like this who are going to make this work

At a meeting held last Friday, the company changed that projection to 2016.

Sadly, if we get another severe downturn in the market before 2016 (which is highly likely, IMO), 2017-18 is much more likely. This in light of NOT's spectacular track record to date of meeting time lines.

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