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: Perfect storm

High nickel price has more effect on borderline producers than us.

All it does is make us more potential profits on top of what we expect.

Even if nickel price went down to Zero our nickel ore would still be profitable because of the PM and copper credits.

That is why I continue to keep all of you cognizant of our profitability, why we should focus on that ore, and it's development.

Cheers.

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