HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Message: I just talked to Investor Relations

I think it bodes very well for us that JP approached us and not the other way around.  The question is would JPM ever start a relationship with a company like Noront on it's own or were the hired by a third party to do so.  My guess is they have been hire a one of the big 4 or maybe even all of them to do due diligence.  In either case it is good for us.

Glorieux

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