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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  • Election Only Required For Any Shareholders Wishing to Retain Shares: Only shareholders of the Company ("Shareholders") who wish to retain all or a portion of their common shares of the Company ("Common Shares"), and remain as Shareholders following the completion of the Arrangement, are required to make an election to retain their Common Shares (the "Retention Election"). Such Retention Elections are due no later than the 10th day following the Interim Announcement (as defined below).
  • Deemed Election to Receive Cash Consideration: Any Shareholders who wish to receive the cash consideration of $1.10 per Common Share will not be required to make any election in respect of the Arrangement. For the avoidance of doubt, any Shareholders who do not make a Retention Election will be deemed under the Arrangement to have elected to receive the cash consideration of $1.10 per Common Share.
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