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Reserves & Resources

Mineral Resource estimate (Main Zone and South West Zone) as at December 31, 2013

Cut-off grade of 0.15% Ni 

Tonnage

Grade

Contained Ni

(million tonnes)

(Ni %)

(kilo tonnes)

Main Zone Measured Resource

2.7

1.51

41

Main Zone Indicated Resource

34.3

1.08

372

SW Zone Indicated Resource

3.1

0.60

18

Total Measured & Indicated Resource

40.1

1.07

431

Main Zone Inferred Resource

2.5

0.92

23

SW Zone Inferred Resource

4.6

0.58

27

Total Inferred Resource

7.1

0.70

50

The Mineral Resource was developed and verified by qualified person Galen White - BSc (Hons), FGS, FAusIMM of CSA Global Pty Ltd.der NI 43-101 and holds the following valid qualifications: BSc (Hons) Min.Eng., IMMM, CEng., MAusIMM, ARSM.The

Mineral Reserve estimate (Main Zone only) as at December 2013 using a Ni price of $7.50/lb

Tonnage

Grade

Contained Ni

(million tonnes)

(Ni %)

(kilo tonnes)

Proven

2.7

1.44

39.0

Total Probable

30.0

1.08

324.0

Total Proven & Probable

32.7

1.10

363.0

This Mineral Reserve is valid at 31st December 2013, was delineated and verified by independent consulting Mining Engineer, Nick Journet of DumpSolver Pty Ltd based in Perth Australia. He holds the following valid qualifications: BSc (Hons) Min.Eng, ARSM, and FAusIMM.