Re: current lack of drill results

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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JDR

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Re: current lack of drill results

in response to

current lack of drill results

cleopatra

posted on May 23, 2012 02:45PM

Well now that would be illegal, now wouldn't it.

In all seriousness, I don't think that Management would do such a thing.

RCF is not investing in us for our near-term drill results but for our 2 world-class discoveries with the ability to add to those resource counts.

As Wes explained in his last presentation, Noront's Eagle's Nest and Blackbird finds are open at depth and it is highly likely that there is more minerals around. Unfortunately these may take some time to find as they are under swamp and not easily located through typical geological survey techniques.

Don't get me wrong, I do hope that the AT-2 and AT-12 results are good, but at this time, the resource is very large and a new find is not imperative.