NEWS RELEASE: Watts Griffis McOuat releases Cu-Ni-PGE Study [for best Canadian exploration targets]

Watts, Griffis and McOuat Limited (“WGM”) is Canada’s longest running (established in 1962) independent firm of geological and mining consultants providing value-added professional services of the highest standards to the global mineral resource industry.

May 10th, 2011

WGM has completed a yearlong study of potential Cu-Ni-PGE exploration targets in Canada. The objective of the study was to identify underexplored areas that exhibit significant exploration potential.

WGM’s team, led by J. Konnunaho, a geologist from the Finnish Geological Survey and an expert in such mineralization, reviewed and prepared an outline of prospective areas in Canada hosting the most favourable depositional environments that could contain such types of mineralization. The study identified and examined 26 such settings, all of which have various levels of demonstrated potential for hosting Cu-Ni-PGE deposits. Targets were then selected based on the following search criteria;

1) current economic potential;

2) accessibility to exploration (remote areas impact exploration costs);

3) geological setting, the presence of those features most favourable for Ni-Cu-PGE mineralization;

4) demonstrated historical and or recent exploration results;

5) amenability to initial low cost target selection and “grass roots” exploration; and,

6) readily available data.

Six prospective target areas that exhibit those features considered key to hosting a broad exploration potential for Cu-Ni-PGE mineralization satisfied these selection criteria.

WGM has reviewed the information available in the public domain for each of these areas and prepared a brief, general overview of the salient features. Terrains of highest interest are described in more detail with specific comments as to those areas of most significant potential. General guidelines as to the recommended exploration approach are also included. This outline and guide is prepared for those explorers looking to acquire Cu-Ni-PGE projects of significant potential in areas that may have been overlooked, missed or avoided by other explorers, who may not have understood their real potential.

WGM has released a limited number of volumes of this study on a first come basis. Each volume comes complete with hard copy maps identifying the recommended follow up target areas.

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