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: Warren Irwin Favors Extensive, Aggressive Drilling

I think that there is not much more to know than what Irwin has spoken about. There are 50 holes we are waiting for assays on, which is what you would expect. The new BOD are qualified,able and committed in Irwins mind and I have not seen anything or any behaviour that would indicate to me that Noront doesn't have a professional BOD. The 43-101 spelled out in a definitive and recognized legal document what our nickel reserves were. Nothing sugar coated or misleading and it is what it is. Although we all wanted more, we have some credibility. He did say he believes more high grade nickel pods would be found. This is more than reassuring because you can rest assured that when he wants a frank "one on one" with Mungal, he gets it. So maybe he is letting us in on something. He was very bullish on the chrome and the diversity of minerals Noront was encountering as well as the vast land holdings and potential targets yet to be drilled. This is the sort of public promotion we need that the BOD have to be very careful about doing themselves as a corporate group. I very much liked his approach and hope it opens some other insitutional eyes as well as political eyes.

Mike

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