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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First, let's get this out of the way....I thought the recent assay results were great and most definately, a game changer. People keep commenting on the nickel grades.....let's not forget the PGE's in the B and C sections as well.....together, the grades over those intervals are exceptional.

OK....so now my beaf

There was this certain practice being carried on by several companies in recent years with regards to backdating share options.....which is illegal...several companies were caught and penalized for this practice....why do I bring this up? Let's look at some of the recent events here....

Noront announces hole 49 hits about 400 meters of mineralization....then shortly afterwards announces stock options at the going price of .62....they gave no other clue except to mention that the cores contained some disiminated and massive sulphides....could have been centimeters for all we knew...the market didn't have any idea as well, as the stock bearly reacted to the news

Now we know what was in those cores as evidenced by the latest assays.....the only evidence to the retail shareholder was in the volume of trading (where the company stated there was nothing material to report).....the results are very significant.....very significant.....could they possibly state that they could not see....visually.....let's emphasize that a bit more.....VISUALLY....that the cores contained something significant...and we the shareholder were left in the dark to rely on rumors only....shameful

Now.....we have another event occuring.....quite similar, I might add. They come out with the assay reslts.....the share price is controlled for a mear couple of hours....then, we get hit with another diluting share offering......and a flow through at that. Again, there is very material information missing from their news release, and AGAIN, we must rely on rumors about step out holes......they know NOW how many holes have been drilled since......they know NOW what they are hitting....they should update the market on what they know NOW before offering up more shares (particularily at a time when they still have enough $$ to complete their proposed drilling plan. If that drill plan has changed, we as shareholders should get to know what the new plan is and why.

Many may argue that it is good to raise more money now.....my arguement is that if they gave us an accurate update, then the offering would likely be at a higher price. For instance....if they stepped out by 100 meters or 300 or 400 meters as some rumors state, the share price could likely rocket up to about $5....then do the share offering....thereby, less dilutive.

Of course this would not be as friendly to those wishing to get in on the share offering....(let's call these people....their friends)

In the end, it's equivalent to backdating share options.... when they know at the tiime of granting options or offering up shares.... that the current situation is much better than what the market is being made aware of (in this case step outs hitting similar mineralization).

Just the way I see it

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