We have the necessary cash going forward into the 2010 drilling season.

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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We have the necessary cash going forward into the 2010 drilling season.

posted on Sep 22, 2009 01:30PM

From page 4 of the new Corporate presentation.

Working Capital (MM’s)

Leading the Charge
in the Ring of Fire

Opening Balance (Jan 09) $ 33.5

Operating Expenses (Feb 09-Apr 09) $ (10.0)

Budget (May 09-Jan 10) $ (14.3)

Financing (Aug 09) $25.0

Forecast Closing Balance (Jan 10) $! 34.2

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