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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: Mild winter blocks access to ice roads in remote Ontario reserves

ROF, I don't believe that anyone has ever assumed that the government would sponsor roads directly to specific deposits, or for specific companies. I believe the intent all along has been only to get roads to the FN's and in the process, also one all-season road to a staging area within the Ring. From that point forward, companies would be required to build their own last-mile access.

The government would be responsible for the costs of the first 350km or whatever the distance is to that staging area. The individual companies would then be responsible for the build costs for the last 5-15km kilometers to their own deposits.

Talking about billiongs of dollars for road building is vastly over-stating the scope of the project. I think you're assuming that if a road proposal is for $400m, then roads for 8 companies will cost eight times as much. In reality, it would only be the single road system into the area. If the road network to the communities is constructed, the additional segment to the staging area within the Ring is a relatively short distance, and only a small portion of the overall cost of the project.

From the end of that spur that is attached to the provincial network, each company would be responsible for costs of construction beyond that point.

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