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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One way to make sense of NOT's relinquishing its advantage before the Bureau, and FWR's
needing time to bring shareholder value, is the rest of the story, IMO:
FWR will waive its SRP on Dec 1, and NOT will modify its offer come Dec 1 to seek only the
RoF assests, provided FWR is successful by then in dealing exclusively the non-RoF assets
with a 3rd party; ie, FWR will not talk chromite until after Dec 1.

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