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: Watay Power

http://www.wataypower.ca/node/7

Project

Wataynikaneyap Power’s unique approach addresses First Nations needs by combining two phases – first, the grid reinforcement to Pickle Lake; the second being the extension north to connect remote off-grid communities.

Phase 1 cannot proceed without a plan for connecting the Remote First Nations Communities

Phase 1 – New Transmission Line to Pickle Lake:

• Detailed routing assessment completed
• Proposed corridor from Dinorwic (south of Dryden) to Pickle Lake
• Approximately 300 km
• Proposed 230 kV design
• Environmental Assessment initiated
• First round Open houses Sept-Nov 2012
• Target project completion of mid 2015

Project Need:

• Identified within Ontario’s Long-Term Energy Plan as one of five priority projects
• Existing transmission line (over 70+ years old) to Pickle Lake is the province’s worst performing line and has maxed out for power delivery
• Existing line susceptible to frequent and prolonged outages; forest fires in July 2011 left areas without power for 7 – 20 days
• Line outages have a social and economic impact
• Would provide reliable power and capacity for existing grid communities (Mishkeegogamang, Cat Lake, Slate Falls and Pickle Lake), existing industry (e.g. Musselwhite Mine), future industry (e.g. Ring of Fire), and a connection point for remote First Nation communities

Phase 2 – Grid Connection to Remote First Nations Communities:

• Requires completion of Phase 1

• Ministry of Energy directed the Ontario Power Authority (OPA) to develop a plan for remote community connections
• Current planning focus on central loop with consideration for east (towards Ring of Fire) and west (towards Red Lake) expansion
• Seperate Environmental Assessment (EA) for Phase 2 required (targeting mid 2013 start)
• Prelimary corridors developed (see below); these maps are preliminary and for discussion purposes only

Note - Wataynikaneyap will consider expansion to serve additional customers (e.g. other remote communities or industry), if requested by those potential customer

Project Need:

• Grid power would replace reliance on diesel generation in remote communities
• Enables the development of clean, renewable power generation by First Nation communities
• Supports economic development in the north and provides business opportunities for First Nations
• Potential expansion west (to remote communities north of Red Lake) and east (to remote communities and Ring of Fire)

Overall Benefits (Complete Project)

•Over 40 years, the project could result in over 4 million tons of avoided greenhouse gas (GHG) emissions
•Creates approximately 1300 jobs, mostly during construction of the transmission line
•Nearly half of new jobs are expected in northwestern Ontario
•Job and business opportunities for First Nations

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