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: a question for you all

You asked if Noront could now change their mind on the PP that was announced. The answer is NO. Noront have obviously accepted the terms as have the buyers and you can assume legal papers have been signed. The Toronto Stock Exchange now must approve the terms and checks cashed shares issued. You don't change the terms of the deal at this point.

There is nothing to stop others asking Noront for another PP but can you really see Richard Nemis going along with that? A deal is a deal and Nemis isn't going to try and weasel out of it at this stage or make changes to it.

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