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: What’s next?

Crazy,

A salt water port for central Canada is in place in the name Churchill. Does Ontario need such a port one might ask?Do we need to build a transportation system from the middle of nowhere to Churchill with no connection to the rest of the province? At this point in history, I personally would have to say no. What is the present economy of Churchill dependent on? It is eco-tourism, polar bears, birds etc. Has Churchill become a major Canadian port? No. It is not the main distribution point for prairie wheat or lumber to Europe or Asia. Shiploads of ore resources are not being shipped from Churchill and do we want these natural resources slipping out the back door, so to speak, without the benefit of processing to some degree and the Canadian jobs that brings?. The other thing to consider is that Hudson's Bay still freezes over during winter months which would require constant ice breaking expense to shipping. Is the environment still unfriendly enough to affect the economics of such a port? It must be. More importantly, is the viability of our existing transportation systems and communities tied to those systems sustainable if their capacities are substantially cut? I think, at this point in time, the proposed routes from existing infrastructure points to the "Ring of Fire" region is the correct perspective to take. Perhaps in years to come, with more development into the north and further changes towards warming, that Churchill or an Ontario salt water port, would be worth discussion as an export alternative Just not now. MHO the deputy

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