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: TSX Listing

influx of money would go to SP, not Noront's bank account which was my point. They are fully cashed up now so no point in going to big board. The time to do this was before hole 49 was drilled but we did not have a CEO at that time and the company was just treading water until we had one.

Wes Hanson has alot to deal with since he came on board, just got back on Friday from a 9 day trip to SA, he has been nothing of a slouch and we may have all been here for the last 2 years complaining of a TSX listing but he has barely 2 months under his belt and things have moved along extremely well since. Our SP is up over 200% since he has been at the helm. Annoucing Eagle 1b&c, a JV for Windfall, Hiring 2 new guys with good resumes, going to SA...this guy is moving big time. I look forward to meeting him on Thursday and hearing what his vision of Noront going forward is. I am sure the topic of TSX will come up although I do not expect an answer.

Glorieux

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