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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Thank you for providing that document, that shows 4 levels of study.

1)- Economic Evaluation ,,,,,,,,,,Least Technically reliable study

2)Pre-Feasibility Study......Increases degree of reliability

3) Feasibility Study....A most reliable study

4) Bankable Feasibility Study.......A misleading term, since it does NOT

mean Bank Approved Study.

GLTY and all,

Fossil

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