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: Another way to look at lens a b and c

The reasoning behing volume a =b&c was to establish what I believe to be a very basic minimum for lens b and c and what it would take for that minimum to be actual. When one considers that Eagle 1a on average was 111m by 133m and was considered small by geological means, then all we need to triple the resource of the 43-101 is a pencil like structure, this being the worse case scenario again with diameters of 84 and 92 meters. When I look at it this way, I believe a tripling of Eagle 1 a is a very minimum that lens b and c will turn out to be. To be honest, I do not believe only tripling is even possible, I believe we are a few multiples of that but only time will tell.

Glorieux

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