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: Re: UC thread discussion - Takeover of UC

"this info does not mean much until core samples are pulled and assay result are in"

Clearly a target is nothing until it is drilled.

Noront had the advantage of being the first to discover nickel. This allowed them to raise money and thus weather the recession better than most.

What I take exception to is the idea that everyone else is doing nothing while benefiting from all of Noronts hard work.

I submit that the recession created very hard times for most junior miners. Stock prices were depressed to very low prices, thus making it almost impossible to raise money.

Had the resession not occured, most of the other exploration companies would have been much more active than they were.

It was not, as you suggest, because they saw the opportunity to ride on Noronts coat tails.

Noront likes to boast that they are years ahead of everyone else and they likely are. But would they be had the recession not occured?

SN

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