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: Attention Noront Management

There is no regulatory bar to management expressing its clearly stated vision as to the stategies it would adopt in dealing with a next stage as long as it not capable of being construed as puffery or pumping on the resource status. It cannot say it is dealing with developer or development issues if there is no proven resource. Lets hope the OSC is not an excuse for not providing some clarity to management's bona fide thinking. They have the simple avenue of OSC approval. Oterwise, I'd be happy with"We have a vision and strategy options, but the OSC won't allow us to tell you what we are thinking"

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