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: looks like road and negotiations with locals are not the only hurdles to get through.

Increased energy demand projected over the coming years will result in a need for more power, not less, Angus said.

“What they don’t appreciate is that we’re going to need all of our hydroelectric generation, we’re going to need the full capacity of the expanded East-West Tie, we’re going to need Thunder Bay and Atikokan power generating stations at full capacity and we’re still going to have to build additional generation throughout the region to meet those demands,” Angus said.

“Every four or five years we have a major drought in the Northwest and that drops the available power by two-thirds. We have to plan for that inevitable situation.”

Angus said there are 23 mines working towards production in Northwestern Ontario, with 12 of those having the possibility of operating by 2020.

While awaiting the increased energy demand, Angus wants to see the province commit to either repairing the plant, idle the station but keep the heat on to protect the facility or try to find a buyer to retain the plant.

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