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: Re: corrected: NOT NEWS... Rosedale--Expertise
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"I find myself hoping most fervently that it was meant as a negotiation salvo, as otherwise with friends like these who needs enemies?"

Rosedale, I really think that's all it is. Obviously, there's a history there, and the NR is written so as not to foreclose any options, or make any admissions that might harm their negotiations with NOT on the potential JV.

The reason for the release, I would think, is to inform people that the drilling that was scheduled to commence at McFauld's was not going forward, and to let everyone know what was happening instead. They could have easily said that they are in negotiations for the drilling at the McFauld's site with NOT and left it at that. That other verbaige was there for a reason, not through inadvertance. Generally, one leaves stuff out through inadvertance, as opposed to adding stuff.

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