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: We need a new CEO...

I am not sure that a new CEO is what we need. Nemis has proven to be a builder and a planner. He has accomplished a great deal of consolidation and amassed a hefty exploration regime along the strategic areas of the ROF. He appears to have a good rapport with adjacent companies.He has also done this with a skeleton crew at the office. Funny how I always got the impression they are working out of a construction trailer. There is no doubt the promotion and sales seems to have come up short, but has it really? IBK, JPM,Sprott, Pinetree etc all have substantial professional and financial ties to this company. It is doubtful that these partners are all inept at PR and sales. It is also doubtful that they would not protect the share price given their sizeable investment unless the lower share price was instrumental in the longer term goals of Noront. We have seen the presence of major mining companies with Noront at public functions. We have seen the grades and the diversity of minerals at Noront and adjacent properties. There has to be a reason why we are trading so low. Maybe the struggling commodities market is playing into the consolidation and accumulation plans of the major investors. Maybe the lower share price is key in Fancamp and Probe negotiations, if in fact that is happening.

We have had a major transformation of our head office with key experienced proven professionals assuming new positions and replacing at least one member of the old guard. This is Nemis's job and responsibility and he is taking charge of the future developement. Nemis can't do it alone and neither is he indespensible. However, I think for now he is still the person to take the helm with the necessary passion to get get this done.

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