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: Three JV's cancelled in 2 weeks

"Get all the land we can & drill the heck out of it as fast as we can"

I think it has more to do with selling than drilling. They would have to bring on 20 drills to get to all of the land they have. I just think they want to make it easy to sell the bigger package without other interests involved to the major, which you brush on in your last sentence.

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