High-grade Ni-Cu-Pt-Pd-Au-Ag-Rh-Cr-V discoveries in the "Ring of Fire"

NI 43-101 Update (March 2011): 11.0 Mt @ 1.78% Ni, 0.98% Cu, 0.99 gpt Pt and 3.41 gpt Pd and 0.20 gpt Au (M&I) / 9.0 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inf.)

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Key lines of NR

posted on Jun 29, 09 11:54PM

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Hole NOT-09-49 was planned as a 1,000 metre platform hole for BHEM survey evaluating the depth extension of the Eagle One mineralization. The hole was located at the northwestern contact of the Eagle One conduit. Visual inspection suggests the hole parallels the contact between the peridotite and granodiorite for its entire length. This hole intersected two zones of disseminated, semi-massive and massive sulphides one from 269.54 metres to 510.69 metres and the other from 749.7 metres to 945.67 metres, more than tripling the known down dip extent of the Eagle One mineralization to greater than 900 metres.

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Wes Hanson, President and CEO notes that "we are extremely encouraged by the latest drill results at Eagle One which suggest significant potential to increase the previously estimated resource at Eagle One. Hole NOT-09-049, drilled down the mineralized structure at Eagle One, proves that high grade nickel, copper, PGE mineralization continues well below the previously interpreted resource limit. We are currently re-evaluating our planned exploration for the remainder of the field season with a view towards aggressively pursuing resource expansion at Eagle One.

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