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: Cliffs trying to sell chromite project as soon as they can

Cliffs webcast is in the question and answer period right now.

Please see link below:

http://washpost.bloomberg.com/Story?docId=1376-NDUWX96TTDSO01-6KSO8J9ULTGR92NUAS11T2MKUM

Other assets are being sold off quickly. The sale of a minority holding in a graphite mining company was completed in August. Goncalves said he’s trying to sell a chromite project in Canada’s Ring of Fire mining region “as soon as I can.”

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