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: The Stockwatch's side of things... (and Wes' subtle choice of words...)

Frank Smeenk's KWG Resources Inc. (KWG), unchanged at 5.5 cents on 254,000 shares, is facing a longer wait to gain control of two claims at Koper Lake in Northern Ontario. Alan Coutts's Noront Resources Ltd. (NOT: $0.53) is appealing a mining recorder's decision to award the claims to KWG. A hopeful Mr. Smeenk says he thinks KWG will soon be able to "assess the mineral potential" of the claims, which lie at the southern end of a property hosting the Black Horse chromite deposit, which KWG shares with Richard Nemis's Bold Ventures Inc. (BOL: $0.07). Perhaps, but the real reason Mr. Smeenk wants the claims is to improve KWG's access to Black Horse. He says KWG has been blockaded, embargoed from landing on Koper Lake and been levied hefty landing fees in recent years, and the new claims host KWG's landing dock and other facilities. KWG and Noront have both had to deal with transportation problems caused by Indian protests at their respective projects. (Noront's former president and CEO, Wesley Hanson, preferred to call the disruptions "logistics halts" rather than "blockades," presumably to placate the locals.) KWG and Bold now have nearly 78 million tonnes inferred averaging 35 per cent chromium oxide at Black Horse, a calculation that sits better with Mr. Nemis than did KWG's first estimate a year ago. He said that estimate, calculated independently of Bold, was "preliminary in nature" and needed more work because of the limited data. He seems happier now, since KWG paid for a new drilling program early this year.

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