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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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Mr K:

I had a conversation with Paul Semple around last Feb/11, I think. In that conversation Paul said that the critical path was the Permitting. He also said that as the permit process (normally 2 yrs.) permission date looked "good" to be sooner, that NOT BoD would early up the winter transport of necessary supplies/equipment to early start building the ramp/roads, etc. The winter 11/12 transported supplies would be enough to shorten the mining start date by six months from the published PA plan.

Peter

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