Massive Black Horse Chromite Discovery

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

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Message: Mining Minister Gravelle ROF Update

Minister Gravelle spoke for 15 minutes and then had 20 minute media scrum. "Update" did not reveal very much other than Delotte Touche given role to move on the Development file. Minister comments, in my mind, was hardly worth an "important update on ROF". Still no firm committment from anyone on what infrastructure will be forthcoming and he did single out Federal Govt. for not offering or mentioning anything on the ROF in the Federal Budget. Cliffs did not come up at all in the media scrum and he took great pains to say that the Provincial Govt. intervention in the Cliffs Appeal was only on a technical issue with sections 51 & 52 of the Mining Act. They are not supporting any party in the Appeal. So in closing we continue to wait for something concrete re infrastructure mode. He mentioned road, rail and hovercraft as modes put forward. rj

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