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: Just playing with numbers.

Yes, drilling at Blackbirds, as yet, has not being 'exciting' enough, so far it doesn't match the excitement FWR is promoting.

Noront and/or FWR have to get more information out to allow the 'market' to place some valuation on Chromite. It's close but we're not yet there. Of course drilling enough to convince the 'market' that there is just too much Chromite for it not to be 'economic' would likely do the trick too.

Sorry but everyone is a long way from proving up 30 Billion dollars worth of Chromite and don't expect that kind of figure to be accepted by the 'Market' anytime soon. There are strong indications that the 30 to 40 million tonnes of resource will be obtained but 'they' want more than strong indications.

Noront is capable of a fast double, with very strong results maybe a triple but getting above $3 is going to take something 'special'. That's still a lot better than where we sit today and such movement could be close. Too much promise to consider selling one's position but patience is still required.





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