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: Noront Management conversation...

It's just my feeling, certainly subject to disagreement and won't hurt my feelings. On top of the punishment Noront has taken over past months todays beating is hard to take. Blaming it all on overall market conditions just doesn't do it for many long investors.

We have new highly qualified people in Management who are all way out of the money on their 'options' and don't forget the 'big money' with shares and options exercised in similar position. A big move to recover lost share price before the Annual Meeting sure will make for a happier crowd.

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