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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Hi Edgy,

I should have been more specific. Wes was referring to the financing for the mine. In the presentation you can see the chart shows financing is completed by this time next year for Eagle's Nest.

As far as smaller financing, Wes did state that there were some Short Term Financing options that they were looking at.

I want to be clear that he was referring to the chart as to when financing would be completed for the Eagle's Nest Mine.

I do hope that they start some smaller financing earlier to avoid further dilution.

I also recall that Financing for the mine may involve further dilution but only if the stock price is more reasonable.

JDR

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