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: A bit of trivia
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Reading the notes to the latest Consolidated Financial Statements I found that only

Options exercised between April 30/2011 and present were .62 cent ones and the

weighted average price at the time of exercise was .79 cents. So the 1.45 million

Options exercisable at .62 cents until the end of June are l out of money still.

It will be interesting to see were Noront's price will be if and when they get exercised.

GLTA,

Fossil

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