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: Question.....

From what has been discussed here in the past week, we have seen Pinetree and Rosseau saying it is a chromite play. Noront have more drills on chromite than nickel and there is a race to define the resource. At the moment we are a chromite focused junior. However, we started out drilling for diamonds, struck an amazing, albeit small nickel deposit and we had a great run as a nickel play. I think we have an identity crisis because we want to be a nickel play, the market understands nickel, nickel is used in far larger quantities globally compared to chrome and the world reserves of chromite are large in terms of annual demand. Lets call a spade a spade, our chrome has to be very competitive pricewise to displace South African product. In my opinion, nickel is still the dream, PGE's the cream and chrome can be a long term developing project once the area is established.

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