Särkiniemi Mine

• Small satellite open pit nickel deposit
• Mining started 4th June 07
• Resources Särkiniemi West (Current open pit) 116,000 t @ 1.17% Ni, 0.53% Cu (Indicated)
• Resources Särkiniemi East – 60,000 t @ 0.86 % Ni, 0.69% Cu (Inferred)
• Ore shipping at 300 t/day to Hitura for processing
• Mine opened on time and on budget
• Proves the business plan for flexible operations of multiple mines around central production centres

Current Status

• First concentrates shipped in July
• Open pit mine completed Nov 16th – 62,000 t @ 1% Ni
• Underground “crown pillar” operation commences December for an additional 30,000 t of higher grade ore
• Now infill drilling Särkiniemi East

Potential

The Nickel ore is hosted in the base of a small shallow dipping intrusion which is inferred to be tectonically removed from a much larger intrusion to the south. The ore is faulted off on the southern margin. A large geophysical survey is commissioned to start exploration of the area.