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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Many board members here, including I, have seen a downdrop in available information (NRs). Some are even woundering what is coming up. Glorieux has got it right; management is not spilling out information at the same level as it did at the beginning of this play.

what I could say is that since Rob McEwen, Pierre lassonde (Franco Nevada) and the others from Pibetree, etc. have been involved in the ROF, notably with BMK and NOT, the information tap has been shut to a trickle, This is a tipical McEwen way of doing things. Whenever Rob gets involveved, rumours are silenced and patience is needed. This is particulary true when there is something good hapening. It also gives the big institutions a chance to jump in at a good price level. These institutions are the pillar of the junior companies. Small guys jump in and out while these big guys stay in (in general), keeping a solid SP base. They also have the power to support the SD if they think it be needed at times...

Rob does not like rumours and has no reason to push SP up when there is no solid base for it, he goes with results and is very patient.

jmho

JH

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