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: Why no play for SPQ or KWG?
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The volume on Friday was not what I expect for a leak so it was more of a technical move. If we do not see any drill results AND NOT extends the offer, we will probably drift lower again.

However, the move up on so little volume testifies that not many are willing to sell at this price and that is always a good sign.

Happy to see the Dubai issue put to rest so quickly, always a good sign!

Should be a good week!

Glorieux

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