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: Joanne says "no material changes or news" to affect the sp. EOM

Thanks Sum4all.

Just like when the SP was shooting to $3 with a flurry of activity, no material change or news. Most think that was due to leaks which have since been plugged (or at least subdued).

The following is from the NR on Sept. 15:

"At present, four drills are currently active, testing the dimensions of the Eagle's Nest lenses in all directions with the intent of increasing the nickel-copper and PGM resources. Three of the drills are testing the mineralized areas down to a vertical depth of 1,000 meters and a fourth drill recently added, is capable of reaching 1,500 meters vertically. Additional drills capable of testing in excess of 1,500 meters will be added during the winter drill program.

Directional drilling equipment is now onsite to ensure the drilling targets are encountered with minimal drill hole deviation and to permit wedging or fanning from "master holes" at depths where new holes from surface would be less efficient and more time consuming."

All drill holes are currently evaluated using Bore Hole geophysics (BHEM) to assist in the interpretation of the nickel-copper-PGE mineralization and to assist in targeting future drill holes. Since hole NOT-09-49, all drill holes targeting the Eagle's Nest have been angle holes planned to cross the vertically dipping mineralization along east-west cross sections parallel to east-west coordinate lines of the Universal Transverse Mercator (UTM) grid system. A surveyed (GPS Gradient) grid of east-west lines with UTM coordinates has been established on the surface to facilitate accurate orientation of the drill hole collars. Results from additional drilling will be released as complete results from new holes become available.

And this from The NR on Blackbird Aug. 31:

President and CEO Wes Hanson stated: "receipt of these remaining results will allow Micon to begin estimating the overall chromite resource at Blackbird, the first step in understanding the economic value of the chromite resource. We have directed a significant amount of exploration capital towards understanding the Blackbird chromite deposit, completing 154 drill holes (52,344 metres) to define Canada's initial chromite resource. While we believe the current drilling is adequate to define a sufficient sized resource to evaluate project economics, the impressive aspect to the Blackbird deposit is that it remains open to depth, offering significant resource potential for the future."

Still a fair amount of reportable information/results. So will there be another NR soon???? Before the AGM???? Or very soon after?

A definite possibility for either. Depends on how you think the BOD is playing it.

Cheers.

B.

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