Massive Black Horse Chromite Discovery

Black Horse deposit has an Inferred Resource Now 85.9 Million Tonnes @ 34.5%

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Message: Re: KWG Share Buybacks/Cancellatio...

From that same NR of Oct.5 2011...

The purchases may commence two trading days after acceptance by TSXV of KWG's notice of intention and will be undertaken by Jones Gable and Company Limited as KWG's agent. It is expected that the purchases will not presently exceed $500,000 and will terminate not more than one year after the purchases commence, or on such earlier date as KWG may complete its purchases.

Purchases will be made by KWG in accordance with applicable regulatory requirements and the price which KWG will pay for any such common shares will be the market price of such shares at the time of acquisition. The common shares purchased will be cancelled.

To the knowledge of KWG, no director, senior officer or other insider of KWG currently intends to sell any common shares under this bid. However, sales by such persons through the facilities of the TSXV may occur if the personal circumstances of any such person change or if any such person makes a decision unrelated to these normal course purchases. The benefits to any such person whose shares are purchased would be the same as the benefits available to all other holders whose shares are purchased.

I submit that the buybacks are thru house 44,Jones Gable and Company Limited therefore the shares anon has been buying are for an insider,maybe/probably CLF.

Kerry.

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