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: Franco Nevada - The Chief Exploration Question

Chromite vs Nickel-Copper-PGM

http://www.mineweb.com/regions/canada/underneath-the-chrome/

"....... the chief exploration question in the Ring of Fire is whether there are more nickel-copper-PGM deposits to be found. It’s one of Franco-Nevada’s chief risks in the deal (albeit miniscule for a royalty company of its size).

Indeed the question may not be if, but how many and how big the discoveries are going to be.

Geologists think it’s inevitable more deposits will be found. Don Hoy, one of several geologists credited with discovering the Ring of Fire, put it this way to me in a recent telephone call: “It’s guaranteed more discoveries will be made once infrastructure is in place.” Franco-Nevada President and CEO David Harquail concurred, based on his team’s assessment of the place. More discoveries will come. “If not I’m going to fire my geologist,” Harquail said in a telephone interview. Maybe he was half joking.

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