MD&A for the 3 months ended March31/15

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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Fossil

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MD&A for the 3 months ended March31/15

posted on May 29, 2015 07:48PM

Permitting and Sustainability Initiatives

The Company continues to progress its environmental permitting and expects for the Terms of Reference for the Environmental

Assessment of Eagle’s Nest to be issued in the second quarter of 2015.

The Company continues to believe in the prospectivity of the Ring of Fire, especially areas which have not been aggressively explored.

On May 22, 2015, the Company received a Regional Exploration Permit from the provincial government and will consider further

exploration opportunities as available financing allows

So the company expects TOR for EA of Eagle's Nest to be issued in June ?

And has received on May 22/15 a Regional Exploration Permit.

GLTA,

Fossil

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