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: Coutts' milestones
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Hi Peter,

thanks for your effort. One minor difference I've noticed in dates.

August 20/2014 Condensed Consolidated Interim Financial Statements

show 2,000,000 Performance Share Units issued on Dec20/2013.

So year end anniversary should be Dec20/14, Dec20/15, Dec20/16 and

finaly Dec20/17 instead of Oct 1 each year. It does give Mr Coutts some

more time before first anniversary. BTW, 335,000 restricted shares were

issued on the same date. Those were purchased by him for $.30 a share.

Expected life of resrtictions on those is two years.

GLTY and all,

Fossil

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