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: how long we can have the assays

HSS
Jun 11, 2008 10:21AM

...the use of INAA (nuclear activation, using a nuclear reactor to liberate the chrome from the silicates at the atomic level).....

SPQ assays took more than 2 months to determine the CR by using the INAA method..their drills were stopped during the spring break.

Noront continue to drill with 2 drills and now with 3 drills on the ground..SPQ hit rate is less than 30 % but hope it will increase the success rate as they now know better the underneath rock situation..

assume the timing of the ACTlabs for CR assays is 8 weeks, we should have some CR assays coming in the mid June, following that , we will have assays continously coming as we have not stopped drilling....

April 15 -June 15 are the months that practically without much impact to the share price from any good news..

Visual appearance for CR is not reliable, as in SPQ todays news, the CR is only 30 % which is not economical to mine yet..

Starting July,situation may change..we will have news from JVs, ,windfall and DE ...

Macro-economic side..Vietnam is in big trouble on inflation and monetary policy..their PM was in China last week..China forcast a large shortage suppy in electricity and oil in this hot summer..inflation dampen the economy .earthquake impact on the food chain..stock market drop for the last 2 months..

the price of commodities is getting more and more volatile..

Noront will always in upper hand as we have enough cash to accomplish the works..

With a new team ,we may hire more drills and more people on ground , the pace to success will be quicken , with RN outstanding luck ( Once per year ) ,a sudden surprise discovery will pop the share price to the sky.

bernard







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