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: Batch releases

they must compile all the data and write the NR's themselves. So in reality they can do what they want. they are not suposed to but they could make up any number of excuses..

You don´t need ´excuses´ to postpone releasing information, as long as this information is NOT material (and this term is quite flexible as well).

Material news would be something new to investors.

But we know about Eagle´s Nest, we know about AT12. So nothing material here.

Therefore, they can wait for a lot of drill results coming back, compile them in batches and release them when they believe it´s right to do so.

I have seen this with other companies before, which haven´t reported EVERY drill hole assay straight away, AFTER they have announced the initial discovery hole (especially with infill drilling scenarios).

In fact, you can delay news releases on drilling for quite a long time if you are reporting on known ´areas´.

FANTOMAS

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