Exploration Programme

EXPLORATION PROGRAMME

Nine targets for platinum and eleven targets for nickel have been selected from the till geochemistry database. These targets are not mutually exclusive and may also be considered for associated elements namely Cu and Au. Initial funds will be used to stake the targets for Lapp Plats, at a cost of SEK15 per hectare (SEK7.3/US$) – these concessions will cover extensive up ice area in order to secure the largest possible area that may be the source of the anomalies.

The targets will be prioritized on the basis of associated geochemistry, favourable and known geology, structural association and known float values.

The same exercise will be undertaken on the Finnish targets, and the priority in that case will be to look at joint venture opportunities that have become available through Outokumpu.

Aggressive cost effective exploration of the portfolio with continual identification of new targets will aim at the earliest possible successful discovery of economic platinum+/-nickel+/-gold+/-copper mineralisation.