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: Gravelle, Mauro hopeful for 2016

Profitability is not just dependent on the price of metals. If you look at the grades it is still profitable at those prices and those are likely to rebound much faster than chrome. Of coarse mining costs and FN costs are other factors but I won't get into those. Don't forget the mining costs are in Canadian dollars and the price they get are in US so that makes things look not as bad.

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