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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Don, I would say negotiations have been ongoing with Probe and others for some time. Noront is the strategic hub company for a lot of reasons. They have common board and executive members with some companies, they have the most significant discovery and property holdings and a very competent management team. In my opinion adjacent companies are gathering data so they can improve their position at the negotiating table. In the end, Noront will control the ROF. They are doing the coordination and consolidation work that will save an interested major a lot of effort and therefore increase the value of the company.
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