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: Too many unanswered questions - appears big hurdles

- KWG Shares owned by Cliffs cannot be transferred without KWG consent over change of ownership as outlined in the original agreement. KWG was not versed on the sale nor did they grant consent.

- The J/V between KWG and Cliffs needed consent by KWG in order for any new entity to acquire the Chromite Assets KWG in involved with.

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Hey, SS76 even though I never posted on KWG forum since I have no KWG shares,

do read their forum. I can find no reference to two statements you cite since news came

out by Lou or anyone else. Can you elaborate?

GLTA,

Fossil

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