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: downtrend or flat-line?

Noront has dished out good news but we are not responding. Perhaps not responding is not the correct phrase for our condition. I believe holding firm is a better term to use for our case. Wes made it clear yesterday in his presentation when he talked about critical mass. Until we get to this point our future caries some doubt. Making a bid for FWR is just one more way to achieve this goal.

When we achieve critical mass to door is open to invest in infrastructure to support mining activity. For now we remain an exploration company with hopes of developing a mining camp in the ROF.

rosehill

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