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: Re: What happened to everyone getting news at the same time???

Although there is no obvious big step out here, we will have to wait for some idea of how much tonnage this has added. For me, the importance is that we have confirmed that grade is very, very good and consistent down there, hole 49 was not a fluke. I would be very careful about calling a ho hum NR, to me this is very good and our low SP should serve as a spring board higher tomorrow.

I look forward to discussions on how much tonnage we have added. Remember my calculations that we do not need a big step out to have very decent tonnage down there...as long as the grade is good and we are adding width, this is all very good!

Glorieux

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