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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They finished all the infill drilling at Eagles Nest. They said that the grades will now be higher than the 43-101 states and they moved most of the infered to Indicated. So the existing 43-101 is light anyways. Maybe that is why they used a lower number because they no they can.. TTY

Sorry if I am not understanding the discount rate correctly.

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