LYNN LAKE NICKEL MINE

HIGHLIGHTS (Updated October 2007)

• Independent Nickel Evaluates Bioleach Option for Lynn Lake (PDF - 4MB)
• 20,000 metre drill program currently underway.
• Independent Preliminary Economic Assessment completed in Oct ’06 indicating:
  • 9.6 year mine life using a 0.6% nickel cutoff
  • Total profit of over $300 million
  • Net present value (NPV) of $134 million
  • Cobalt credits will enhance economics
  • Addition to resource will enhance economics
• Resources of 20.7 million tons grading 0.64% nickel and 0.33% copper.
  • Measured and indicated mineral resource of 16.1 million tons grading 0.7% nickel and 0.4% copper
  • Additional inferred resource of 4.6 million tons grading 0.6% nickel and 0.3% copperShareholders leveraged to over 5 pounds of nickel for every share held.
• Shareholders leveraged to over 5 pounds of nickel for every share held.
• Opportunity to participate in nickel resource, with additional exploration upside potential, for a fraction of the price of company peers.
• Testing newly identified exploration targets within the mine setting, all of which were intersected in widely spaced mine exploration drilling in the 1950’s and 60’s. In addition, approximately 50% of the host rock remains unexplored.
• The ‘Echo’ target is defined by 13 historic holes over a 2,400 foot by 1,200 foot area with average thickness of over 60 feet. Several higher grade intercepts, including 14 feet of 2.2% nickel. This target area is associated with a shallow, moderate to strong conductive feature. The Echo target volume exceeds 17 million tons.
• Target ‘Golf’ occurs immediately below a zone of inferred resource and is open at depth. ‘Golf’ was encountered in 7 historic holes. Intercepts include 54 feet of 1.72% nickel, 0.62% copper, as well as 75 feet of 1.22% nickel and 0.52% copper in another hole.
• Company has no liability for historic operations and existing environmental conditions.
• Owns royalty on Victory Nickel’s Minago property, which pays 3% when nickel >US$6/lb.

STOCK INFORMATION

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HISTORY

For a history of the past production of the mine, click here