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: Re: Any word from Hoov concerning his meeting with Wes on Friday?

Hi Sean,

Hoov did have a meeting with Wes last Friday however, he is now in Florida for the week and he did tell me that his "Hoov on the Move" technology was not working out as planned so he may not post till next week.

I do not want to say more than I should but Hoov did seem quite happy about the meeting (About 1.5 hours) and left confident that Wes was doing the right things for the company. He said there was not really anything new that was discussed. He did say something to the effect that Noront is not just putting on a show or pretending that they will mine this themselves...In his opinion, Noront is going to mine this themselves unless... someone buys them out of course.

That was the general thought of what Hoov shared with me over the phone. I am sure he will have a more detailed report when he has time/access to a computer.

Glorieux

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