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: Acquistion of Cliffs camp
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Friends,

Ever wonder what we actually agreed to pay Cliffs for their camp? Me too.

I had emailed the home office some time ago but have never rec'd a response on this subject, although they have answered other inquiries since.

So looking at the most recent Financial Statements, ending June 30, you can find the follwing:

Investing

Acquisition of Equipment = $ 137, 301

Intangible = $ 5,890

Deposit for Acquisition = $ 150,000

From this line item, we can assume that NOT paid a 50% deposit to Cliffs for the camp.

And the equipment purchase of $ 137,301 was for Cliffs camp equipment (ATV's, generators, structures)

Putting all these figures together we can surmise that NOT paid approximately $ 450,000

for the Cliffs camp and assets.

Warm regards to all,

mynot

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