Dony,

Found this on the Noront web site just now. It is from the April 30 MD&A which they update routinely with newer information. Of particular interest is the corporate number of the private company. Anybody with access to a corporate registry in Ontario could do a search assuming they are incorporated there.

I would be interested in knowing who the owners and members of the board are for the private company given that the property is only 20km away from Eagle One. I believe this can be looked up during a search as I used to repo equipment from deadbeat private companies in a former life and we would get this info from there.

From the MD&A:

Private Company (6897631 Canada Inc.) Option

On July 18, 2008, the Company entered into an option agreement with a private company.

The agreement allows private company the option to earn a 50% legal and beneficial interest in 10 claims making up approximately 160 units along the Ring of Fire located in the James Bay Lowlands of northeastern Ontario.

To earn and maintain its interest in the property, The Private Company is required to:

1. Pay to Noront $130,000;

2. Fund $2,275,000 in exploration expenditures on the property over a 3 year period ending March 27, 2011 (of which $650,000 must be incurred by March 27, 2009); and

3. Make additional aggregate cash payments to Noront of $260,000 within two years of entering into the option agreement.

Noront will act as the operator.