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: Q&A with P Semple re Wes' Aug1/12 MD&A pres'n (this am)
With reference to pg 5 of Wes' recently posted update, I report below the following, FYI. 1.The E/W access winter rd route (mine site to Webieke) will go ahead starting winter12-13 freezeup, regardless of N/S activities. (I think both routes will be done. ) All of the pre-construction activities eg equip transport, prepermits, ect (see pg 5 of posted report referenced) will be done to enable the jan/16 mine start date; ramp build; provisioning etc. 2. The permit submitions "almost done now" are sept with 2 mo turnaround estimated to ensure this winter startup. 3. Financing of infastructure will be via 3p (priv/pub/partnership . Numerous 3p partner options available , no names allowed. 4. The sole current bottleneck is the public P: ont govt. 5. The pre construction/winter road will start regardless of no ON (McG) 3p infastructure /participation committment announcement. The jan/16 start date is firm. 6. Updated feasibilty awaits only McG 3p inputs. Much frustration on this. 7. The NOT CR resource : 44m tons is part of the forthcoming feasibilty study(s?). 8. No problems/ much support from FN's involved. 9. Project timelines per pg 5 referenced still ok. Hope I got everything. Peter
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