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: My Understanding of the Arrangement
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If 20% or less of all the outstanding shares are not retained (rolled into the "New Noront") than every outstanding share not owned by Wyloo will be deemed to be forfeit to Wyloo, upon which Wyloo will pay out a sum of $1.10/share for each and every outstanding share acquired under the Arrangement.

Example:

If there are 200 million shares outstanding than a retention of 40  million or more outstanding shares must be realized and retained to avoid all 200 million shares from becoming forfeit to Wyloo at a pay out cost of $1.10 for each and every outstanding share.

Please correct me if I am wrong.

TM.

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