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: Dec 15, 2011 MD&A highlights

"Thanks dvdgray, so if we are in Q3,FY2011 now, the study has been put back 1 year since the June press release."

One could conclude perhaps one of two things, that either they've run into complications that will require more time, or they've run into something material that will require a re-evaluation of priorities, pushing feasibility back some on the schedule to place funds on these new priorities. Perhaps a new find of some promise has required a new drilling campaign and most certainly greater need for cash.....and if so....hopefully any further pp's will be at a much higher price. Is is also not possible though that we'll see another pp at still a lower price....or is the current pp the mention they make about needing more funds for 2012? We wait to see.

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