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: RAMP is on! (imo).

"The extent of the mineralization now extends to a depth of approximately 1,650 metres from surface. The Eagle's Nest resource includes inferred resource along strike and down dip below 1,100 metres providing significant potential for further resource growth. It is anticipated that the nickel grade of the inferred resource will increase during further delineation drilling. Due to the depth of this inferred resource, further drilling on this target will be more effective from an advanced exploration program utilizing an underground exploration ramp. "

The 20M tonnes was the minimumm amount versus the high end of Wes' prognostications. Hence Im a tad glumb (gready?). HOWEVER, the RAMP is on; Semple told me the truth; Niemy told many truths; BoD info can be relied on; next step is the PA update....maybe all the way to a complete economic /bankable feasibility study.

All the info in the Apr23 tech report in terms of future planned actions has happened!!.... including the return to deep drilling at EN. Likely from another RAMP.

Peter

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