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: Hate to give negative prognosis...

Great postings today discussing the co-operation between these two players. I see this as a huge win for both regardless of how the final business agreements are worked out. It potentially extends mine life, where both parties can extract value for lower costs.

I think what is equally important is that KWG / BOL are not mine builders, and NOT has built a good team with this skill set, that can leverage with this arrangement. I suspect there will also be significant gains on reduced EAs and a host of other development and administrative costs. Smart move for all.

Lakeside

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