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: Options

Yet another table shows total number of options outstanding as of April 30/2013

at 13,226,666 with average exercise price of $0.95 but only 10,165,556 of those

exercisable.Unless forfeited options come into play I can not figure that one.

Can someone explain? Thanks in advance.

GLTA,

Fossil

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