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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: The surprise will come

I think we are in a egg and chicken conundrum we won't be able to build the mine with our Sp at 60 cents without a major cash inflow from a large major or be put on the block (sold)

We would have to spend more on exploration and find a more variety of minerals other than Chromite and large amounts of low grade nickel and this will also be very costly. (buy-out)

The problem was that we "changed horses in midstream twice"...once when we went from an exploritory company to a mining company and then from a nickel company to a chromite company.

A few years ago we had input from one of our members who stated that we should blast the crap out of our findings in the summer months, stock pile it, and ship it out on the winter roads.This would give us operating cash for the next year with no need of share delution,keep our geologists (boots on the ground) and explore our other areas for more mineral finds the following summer!.

Of course vision is always best after the fact.

Dennis

MTFBWY

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