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: Further comments to yesterdays "press scrum"

In a scrum with reporters after the news conference, Gravelle was pressed about whether the province's $1 billion investment was contingent upon the federal government matching it.

He insisted the province is committed to its investment, adding it's "unimaginable to us the federal government cannot come through."

Orazietti said the province can't wait for the federal government to invest in the Ring of Fire, although it expects it to, and not from the Building Canada Fund.

Taking money from that federal infrastructure fund would short-change other provinces, he said.

But Rickford said in an interview the province now can take advantage of something it has always known about, and that is the Building Canada Fund.

If Monday's announcement did anything, it more clearly outlined the scale of investment the province is willing to make, said Rickford.

"Moving forward, we can now identify specific projects all of us would be in a position to invest in," said Rickford.

Rather than giving the province a pot of money, it can apply for funding for specific infrastructure projects, as can First Nations, communities and the private sector, said Rickford.

"We don't deal in vagaries," said Rickford, minister of State for Science and Technology and minister in charge of FedNor. "We want specific projects."

Someone else looking for specifics was Algoma Manitoulin MPP Michael Mantha, NDP Mines critic, who travelled to Thunder Bay for the news conference.

He will be looking for more details in Thursday's budget about how the $1 billion will be spent.

Two years ago, Ontarians were promised Cliffs Natural Resources would build a $1.8-billion ferrochrome processing plant near Capreol to process chromite ore from the Ring of Fire. Plans fell through for a variety of reasons, some of them difficulties within Cliffs.

But Cliffs also cited frustration with the slow pace of decision-making by the province for putting work on its mine site in the Ring and smelter project on hold.

Mantha called the announcement about that plant politically motivated and accused the Liberals of using this promise to spend up to $1 billion on Ring of Fire infrastructure to woo voters in what is likely to be a late June election.

Both Mantha and Rickford said they are still waiting for details about the development corporation, established by Gravelle and the province in November to develop, construct, finance, operate and maintain infrastructure for the Ring of Fire, will function.

Norm Miller, Progressive Conservative critic for Northern Development and Mines, said the government committing a significant number of public dollars without putting forward a concrete plan to develop the Ring of Fire.

"There is no timeline for development, and no firm indication on the orientation of the transportation link or whether it will be road or rail, and no details about the development corporation.

He has also been asking for details about the development corporation.

With the province committing up to $1 billion to infrastructure, the development corporation can begin its work in earnest, headed by Deloitte LLP, said Gravelle.

To have $1 billion included in the budget for anything is "huge," he said.

He mentioned Mantha was in attendance at the news conference, and said the Liberals would need the support of opposition MPPs to get Thursday's budget passed.

Lots more episodes left in the ROF soap opera, stay tuned folks.

mynot

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