Waiting for news.

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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bravekind

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Waiting for news.

posted on May 14, 2008 03:19PM

As I understand the regulations, once you release one drill assay results from a particular drilling project (Eagle One) you must release all in a reasonable time after receipt. You cannot hold back on bad results just because you don't want to upset shareholders.

Now we are waiting for results from Eagle 2 and other drilling 'in the vicinity' of Eagle one, which they told us 4 WORK DAYS AGO that they were reviewing and processing and would release as soon as possible.

My point is two fold:

There is no requirement to release these newer results until they are ready to.
It's only been four work days. I believe they want to get what they have completed prior to release.

There is no reason to be suspicious. They are businessmen doing their job in a professional manner. Still, I would bet that we will see results this week.

Here are the relevant paragraphs is the recent news releases:

April 25
none of the nineteen sample batches representing some 760 individual samples sent to the laboratory have returned results that are acceptable in terms of quality assurance and quality control to the Company and its Quality Control and Quality Assurance ("QA/QC") consultants.

May 2
SGS is processing the Noront requested retests and is planning to have all remedial work completed by Friday May 2nd, 2008.

Upon receipt of the revised analytical reports from SGS, Noront will review the results for QA/QC as before, apply them to the drill hole information and release results in a timely manner.

May 9
[Released holes 28-35]
Seven holes testing Eagle One were completed during late January and early February 2008, including one hole (hole 28) that was started prior to the Christmas break, that is reported herein. As announced earlier (see press releases dated April 25 and May 2, 2008), delays at the laboratory were complicated by a series of quality assurance, quality control (QA/QC) issues. All outstanding work orders are now received and have passed Noront's QA/QC program.

The remaining work orders for analysis with respect to the anomaly drilling in the vicinity of Eagle One, including Eagle Two are currently being processed and reviewed, results of which will be released as soon as they are available.