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: Are they happy now??????

Yes, and we as shareholders should be happy too. They now have the incentive which is general practice in the industry.

We can only normalise this event, as it is a regular item for all junior exploration companies and it is therefore business as usual.

You may discuss the amounts, the timing but the granting of options itself is not worth any further discussion.

Let's focus on one thing only: drill and prove up the reserves by drilling. Drille again and sell at well over C$10, Everybody will be happy in the end, the goodies are there and we need the BoD to prove them up, geologist in the field alone will do for E1 but not for all the other high potential targets.

Let's stay pragmatic here, we need the BoD to work with Majors, investor community, financing, governmental involvement (road), local community (consent and job opportunities), Listing on the big board and of course cleaning their own desk and minds (esp. Patsy A.)



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