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: Genuity Report: Something else

AT-5 has not turned up the same things in the first holes that E2 did. They are hitting some mineralization on the E2 holes, and they did call it an Eagle early on, so I am sure they are keen to prove that it is... However, so far, from the results we have seen, its been acting more like a snake than an eagle - slippery and elusive.

I cannot, sitting in my armchair, proclaim a limit for drilling (hole cut-off). There are a number of key variables and factors, some of which may be unique to any particular anomaly, and will vary with each anomaly, that would be factored into any decisons as to whether to continue drilling. A decision which can only be made intelligently by the people on the ground who are privy to all of the relevant information.

Regards,

B.

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