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: Significance of Probes Assays

I spoke with Noront about this PRB news this morning, because I wanted to know if it had any implications for them with regards to assaying peridotite encountered at E1 and AT-1. The person I spoke with said that althought it was nice for PRB to have some mineralization in the peridotite, its unremarkable as they have been finding minor amounts of PGEs and Ni mineralization in the peridotite just about everywhere. They have apparently found similar and/or slightly higher values in the peridoitite at another anomalies and not bothered to report it.

Not trying to bash PRB, but just trying to put things in perspective. The news is good, but not, in any way, great. PRB still have a lot a work to do. Also, FNC might produce at least similar assays for it s C-1 core.

Your thoughts geoprof?

Regards,

B.

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