These intervals were taken as representative samples and therefore the core on either side was not split for assay. In response to these significant precious metal results in only a limited number of samples, the Company will now prioritize the sampling of the remaining 51 metres of peridotite core in order to better evaluate the potential of the body as a platinum group element (PGE) host. Additional sampling will also be undertaken on drill hole MW08-02, which intersected a similar interval of peridotite in the same intrusive body.

The preliminary assay results for the McFauld’s West core samples are very encouraging and suggest that the peridotite on the McFauld’s West property has the potential to host PGE mineralization. The Company is encouraged by these metal results from only a limited sampling of the peridotite and, owing to the difficulty in identifying PGE mineralization through visual observation, believes there is a strong possibility that the PGE mineralization is more widespread. The presence of PGE also provides encouragement for other metals, such as nickel and copper, in the host peridotite. It is important to note that the peridotite has only been drilled to a maximum vertical depth of 120m, and the potential for additional mineralization at depth remains high. The discovery was made approximately one kilometre northwest of the Eagle One high-grade nickel-copper PGE sulphide deposit which has a reported estimated resource (indicated) of 1,834,000 tonnes averaging 1.96% Ni, 1.18% Cu and 5.1g/t combined platinum, palladium and gold.