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: Wonder where Richard will surface any thoughts

Wonder where Richard will surface any thoughts

posted on Jan 26, 2009 02:19PM

I have been wondering where Richard will resurface ever since Jennifer mentioned this a while back. Then I believe Snug mentioned that we will be hearing something real soon.



Here are some of my thoughts.

1)Does he end up with Mac and FWR.

2)Does he end up with Neil and SPQ.

3)Does he end up with some form of spinoff with Windfall--Not-FWR-MUG.

4)Does he end up with one of the already announced JV's at McFaulds,ie:

Noront Resources Ltd. (Noront, the optionor) is pleased to announce that it has entered into an option agreement with a private Ontario company (the optionee). The agreement allows the private company to earn a 50% legal and beneficial interest in an 11 claim block totaling 124 units on the east side of the Ring of Fire trend in the James Bay Lowlands. The subject property is located approximately 20 km northeast of the Noront Eagle One magmatic massive sulphide deposit and approximately 300 km north northeast of Nakina Ontario. Thunder Bay lies approximately 525 km to the south southwest.

The private company can earn its 50% interest by expending $2,275,000 on the property and making cash payments totaling $390,000 over a three year period. The first year cash payment of $130,000 has been paid upon signing and the firm work expenditure must be completed no later than July 18, 2009 date).

A further $650,000 work expenditure and $130,000 cash payment or if the company is public, in shares or cash at the option of the optionee is due no later than March 27, 2010. The third year work commitment of $975,000 in addition to a $130,000 cash payment (in cash or the equivalent value in shares if the company is public), is due on March 27, 2011. Upon fulfillment of these terms the optionee will have earned its 50% interest and a joint venture will be formed with Noront acting as the operator.

5)Does he end up with White Pine-Mike Kilbourne now with them.

RR



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