Let's revisit the July 6th news release. Noront used unusal words like "significant" and "impressive" mineralization on hole 49. The words like these support at least 3% Ni mineralization in the core in my opinion. Also the NR indicated that the subsequent drilling at hole 50 was near completion. Noront must have visual data within a week (presumably by early last week). This is the most reliable source of information revealed by the company. Previous two material news releases were out on Monday which means NR can be out to the public at any time. I just hope we will have a record volume of trading this week to establish a firm base at around $1.50 at least and wash out potential profit takers.

July 6, 2009

Noront is currently in the process of drilling deep bore hole electromagnetic (BHEM) platform holes at Eagle One. The company's initial BHEM platform hole, NOT-09-049, intersected significant massive sulphide mineralization which was disclosed in the company's press release in Stockwatch dated June 29, 2009. The company believes this hole was drilled down dip of the Eagle One mineralized structure.

Noront's chief operating officer, John Harvey, notes: "In view of the impressive mineralization intersected by NOT-09-049, we are evaluating options for additional drilling at Eagle One to test the newly discovered mineralization at depth below the Eagle One resource limit. An additional drill may be mobilized to Eagle One to speed up the drilling process. We are also considering upgrading our current drill fleet to allow us to drill deeper along the interpreted conduit at Eagle One."

Noront is currently operating three drills within the McFaulds Lake area. One drill is completing a second deep BHEM platform hole at Eagle One, the second drill is working at AT-12, and the third drill is operating on Noront's northern claim area where coincident airborne MAG and EM anomalies are being targeted. All drilling currently under way is focused on testing for additional base metal targets.