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: 43-101 Airstrip / Railway or Road

I agree an airstrip is essential. The issue of road vs rail is strictly economics. If the ROF is detirmined to have the reserves of Ni, Cu, and Chromite that support 50 to 100 years of mining than a railway would look feasible. When you look at the mining camps that have had substantial railways, there has been this level of proven reserves. There is a small mine near where I live that transports its concentrate 400 km to the port facility by way of truck (B-trains) However, it only has a 10 year life.IOCC in Labrador has a privately operated railway that is more like 700 km. but it has already been mining for 50 years and is now spending two billion dollars to continue mining for another 50 years. A road of some sort is also essential because if a railway is deemed feasible it's construction and minesite developement have to be happening simultaneously. It has been said that open pit is possible for some areas of the ROF but there is still massive amounts of overburden (stripping) to do and there needs to be a way to deliver the huge mining trucks and excavators to do this work. Power has to be brought in as well but generators could supply in the interim and they need to be transported. If generators are used and deisel mine equipment, there will be countless tankers of fuel brought to site which creates further need for a road. As you can see, this is a massive undertaking and it all has to be financed for a number of years before there is much in the way of revenue. I think this is why our share price is lagging and in my opinion, there needs to be a lot more drilling to substantiate the investment in infrastructure to make this a paying preposition. I believe it is there, E1 extends at depth, the RFI seems to be everywhere with chromite, PGEs and Ni-Cu. I also believe this is why Richard is not saying much about the share price. Until a major states a position, we are a standalone company whose deposits have to pay for themselves. A major will cause speculation on future values and a more immediate spike in share price but not much will happen until then. As Rapid Rob says, this may happen sooner rather than later.

All in my humble opinion.

Mike



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