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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Lor,

Just a couple quick comments on some of Selkirk's points...

The fact that Noront has rich chromium deposits does not negate the fact that they ALSO have rich nickel/copper/pgm deposits. It may well be a geological indication that more rich pgm deposits are to come.

Also, since Noront has $50,000,000 in the bank, they will not have to look for more financing for some time to come. I do not see the chromium deposits as a dilution issue - in fact, this seems backward to me; the chromium deposits ADD value.

And I believe the chances of Noront hitting more significant nickel/copper/pgm deposits over the next few months are very high. Eagle Two ALONE holds excellent promise!

Best regards,



"if they have to raise money telling the Chromium story, .....will dillute existing shareholders, since they will have to issue stock when it is low.... "

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