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: What they are not saying

Great post From_Sudbury...raises many questions and makes one think. However, I believe there is a simple answer to the difference in descriptions between hole 47 and 49. The on site geologist has to log every core that comes out of the ground, catalogue it and rate it. Hole 47 was finished before hole 49, the intercept of interest was short and easy to rate. Hole 49 probably took 2 weeks to drill at that depth, the amount of core generated is overwelming and there simply was not enough time to properly record everything and have this data verified and approved for this NR. So we may yet get another NR this week or at least before the assays are back with a full visual report on hole 49. From my perspective though, when they say:

Hole NOT-09-049, drilled down the mineralized structure at Eagle One, proves that high grade nickel, copper, PGE mineralization continues well below the previously interpreted resource limit.

this means that we are not dealing with mostly disseminated sulfides but probably a fair amount of semi massive and massive sulfides in that 437.12M of mineralization. Eagle 1 was about 225M in length, so this could be equivalent to twice Eagle 1 if the other 2 dimensions are similar to Eagle 1. The problem right now is we have x, but we are missing y and z and the grade. However, I choose to believe that this will turn out to be very substantial.

However, I will give you that not much has changed from a promo stand point. This NR could of been broken up in at least 2 maybe up to 4 parts and been written to emphasize the added mineralization at depth. Instead, they added so much other material that one could miss that info if you just looked at the title...and who picked that awful title!!!

Glorieux

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