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)

Free
Message: CHUMS ? of Noront who should be informed of the status quo....................

CHUMS ? of Noront who should be informed of the status quo....................

posted on Mar 15, 2009 01:42PM

So, Who is Noront Dealing with ?

I SUGGEST YOU PHONE AND EMAIL THEM ALL

!. WSR GOLD INC.

2. HAWK URANIUM INC. Now quickly out the door!

3. SOUTHAMPTON VENTURES INC.

4. SEAFIELD RESOURCED LTD.

5. LUND GOLD

6. INTRINSIC MINERALS Ltd

7. INTRINSIC MINERALS LTD. - 2ND OPTION

8. Private Company (6897631 Cda Inc.)

9. BOLD VENTURES INC.

10. PASSPORT METALS Inc

11. SURESHOT MINERALS INC.

12. Golden Valley Mines Ltd.

13. East West Resource Corporation

14. Temex Resources Corp.

15. Baltic Resources Inc.

Clavis

OPTION AGREEMENTS AND JOINT VENTURES

The following option agreements are on claims that are part of the Ring of Fire area located

in the James Bay Lowlands, which include the site of the McFaulds Lake Project at McFaulds

Lake. In the case of sold options, Noront is the Optionor and will be in receipt of money and

shares as the counterparty to the agreement earns into the claims.

SUMMARY OF JOINT VENTURE OPTION AGREEMENT TERMS

SOLD OPTIONS

October 30/08 $1,500,000 50% interest in:

15 Claim Blocks

240 units in the McFaulds Lake areaalong the "Ring

of Fire” in the James Bay Lowlands

October 30/09 $1,500,000

October 30/10 $2,000,000

2nd and 3rd year

payments are

optional.

Anniversary

Dates

Expenditure

Commitment

Description

of Area

WSR GOLD INC.

HAWK URANIUM INC.

November 19/08 $1,000,000 50% interest in:

10 Claims covering

160 units in the McFaulds Lake area along the "Ring

of Fire” in the James Bay Lowlands

November 19/09 $1,000,000

November 19/10 $1,500,000

2nd and 3rd year

payments are

optional.

- 24 -

SUMMARY OF JOINT VENTURE OPTION AGREEMENT TERMS

SOLD OPTIONS

January 1/09 $1,000,000 50% interest in:

12 Claims covering

168 units in the McFaulds Lake area

along the "Ring of Fire' in the James Bay Lowlands

January 1/10 $1,000,000

January 1/11 $1,500,000

2nd and 3rd year

payments are

optional.

Anniversary

Dates

Expenditure

Commitment

Description

of Area

SOUTHAMPTON

VENTURES INC.

SEAFIELD

RESOURCED LTD.

January 15/09 $600,000 50% interest in:

6 Claims covering

96 unitsin the McFaulds Lake area

along the "Ring of Fire' in the James Bay Lowlands

January 15/10 $600,000

January 15/11 $900,000

2nd and 3rd year

payments are

optional.

LUND GOLD

February 1/09 $1,000,000 50% interest in:

13 Claims covering

169 units

in the McFaulds Lake area

along the "Ring of Fire' in the James Bay Lowlands

February 1/10 $1,000,000

February 1/11 $1,500,000

2nd and 3rd year

payments are

optional.

INTRINSIC MINERALS

LTD. - 1ST OPTION

May 13/09 $1,225,000 50% interest in:

16 Claims covering

247 units

along the "Ring of Fire' in the James Bay Lowlands

May 13/10 $900,000

May 13/11 $1,350,000

2nd and 3rd year

payments are

optional.

INTRINSIC MINERALS

LTD. - 2ND OPTION

May 13/09 $1,300,000 50% interest in:

21 Claims covering

3278 hectares

along the "Ring of Fire' in the James Bay Lowlands

May 13/10 $1,300,000

May 13/11 $1,950,000

2nd and 3rd year

payments are

optional.

Private Company

(6897631 Cda Inc.)

March 27/09 $650,000 50% interest in:

10 Claims covering

160 units in the

McFaulds Lake area along the "Ring of Fire' in the

James Bay Lowlands

March 27/10 $650,000

March 27/11 $975,000

BOLD VENTURES INC.

January 1/09 $600,000 50% interest in:

6 Claims covering

96 units

along the "Ring of Fire' in the James Bay Lowlands

January 1/10 $600,000

January 1/11 $900,000

2nd and 3rd year

payments are

optional

PASSPORT METALS

INC.

June 10/09 $450,000 50% interest in:

4.5 Claims covering

16 units

in the McFaulds Lake area

along the "Ring of Fire' in the James Bay Lowlands

June 10/10 $450,000

June 10/11 $675,000

2nd and 3rd year

payments are

optional.

SURESHOT

MINERALS INC.

July 15/09 $1,400,000 50% interest in:

14 Claims covering

224 units

July 15/10 $1,400,000

July 15/11 $2,100,000

- 25 -

SUMMARY OF JOINT VENTURE OPTION AGREEMENT TERMS

SOLD OPTIONS

2nd and 3rd year

payments are

optional.

in the McFaulds Lake area

along the "Ring of Fire' in the James Bay Lowlands

Anniversary

Dates

Expenditure

Commitment

Description

of Area

NOTE:

In addition to the expenditure commitments indicated above, each optionee must make an annual

payment to Noront in cash or shares, in order to continue with the option. In the first year, the optionee typically

chooses whether to make the payment by way of shares or cash. In subsequent years, if the optionee elects to

continue with the option, Noront chooses whether the payment to it is made in cash or shares.

OTHER AGREEMENTS

In addition

, Noront is a party to certain other option agreements with arm's-length third parties,

including with WSR Gold Inc. and Golden Valley Mines Ltd. in respect of the Golden Valley

Property and with East West Resource Corporation and Temex Resources Corp. in respect of

the Fishhook Property.

T

EMEX RESOURCES CORP, NORONT RESOURCES LTD. AND BALTIC RESOURCES INC. ACQUISITION

On December 11, 2007, Noront, Baltic Resources Inc. (“Baltic”) and Temex Resources Corp.

(“Temex") announced that they had completed a significant land acquisition campaign in the

McFaulds Lake area in the James Bay Lowlands region of northeastern, Ontario. The new

properties, located in the general area of Noront’s Double Eagle Ni-Cu-PGE discovery, were

acquired by Temex on behalf of Temex, Noront and Baltic collectively the Staking Syndicate

(the “Staking Syndicate”). A total of 120 mining claims comprising 1900 claim units totaling

76,000 acres (the “Claims”) were acquired on behalf of the Staking Syndicate.

Subsequent to the staking campaign, Temex, Noront and Baltic have entered into a binding

Letter of Agreement whereby each party has agreed to grant the other two parties a 100%

interest in one third of the total claims staked, with each of the parties retaining a 1% NSR

royalty in the claims granted to the other parties. Therefore each party has a 100% interest in

one third of the claim units and a 1% NSR royalty in two thirds of the claim units. Temex

acted as operator of the Staking Syndicate.

EMEX RESOURCES CORP, NORONT RESOURCES LTD. AND BALTIC RESOURCES INC. ACQUISITION

N

On May 14, 2008 the two companies announced a joint exploration agreement to explore a

key airborne geophysical anomaly, situated on the boundary of their adjacent properties

approximately 8 km northeast of the Eagle One deposit in the McFaulds Lake area. The

McFaulds Lake area exploration play is situated in the Sachigo greenstone belt, 300

kilometres north of Nakina in the James Bay Lowlands of northern Ontario.

Under the terms of the agreement Freewest will contribute 68 acres (27.5 hectares)

comprising a small portion of their 100%-owned property. Noront in turn, will contribute 70

acres (28.3 hectares) of their adjoining land to collectively form the joint-venture property.

ORONT RESOURCES LTD. AND FREEWEST RESOURCES CANADA INC., JOINT EXPLORATION

A

GREEMENT

GREEMENT

- 26 -

Freewest and Noront shall share exploration costs on a 50%-50% basis and will share any

mineralization found on the Property on a similar basis. Freewest will act as the operator of

the initial exploration program which is to be agreed upon by both parties.

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