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: Cliffs - Comparison

I find it interesting that Baosteel wants us to drill a little more on the chrome and we easily end up tripling the resource. If we actually did a full on blitz of that area how big can this thing actually be? I don't need an answer to that but I think this shows that we have a lot more than what's been reported and we can look forward to extremely expanding this entire project as time goes on.

One thing that's slipped my mind over the past few years is the actual size of Cliff's chrome resource. It appears that we're now sitting with 44 million tonnes of measured, indicated and inferred so how does this compare to what Cliffs has reported?

Any thoughts would be appreciated.

Deeter

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