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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"I was referring to the FWR chromite as I had not seen any report of PGEs there"

"The Joint venture partners are encouraged by the apparent thickening of the massive Chromitite beds to the northeast, with the potential for grade and tonnage development in addition to the significant presence of Gold and Platinum (FW-08-07 2.183 g/t (Pt + Pd + Au) over 9.0 metres). The partners are now considering additional drilling as required for resource definition drilling."

Old news release but still an indication that PGEs are present.

Kerry.

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