Just thought I'd share a little history about Double Eagle with some of the newer shareholders (and maybe a few older ones) who are watching the latest FWR bidding war taking place at the moment. What is amazing is that if it were not for FWR and MacKenzie Watson, Noront would not be in the enviable position it is today. Here is a walk down memory lane:

(note, quotes directly lifted from NRs with the exception of an addition of a bold italicizing be me to the original text)

It all started July 21, 2003:

"Double Eagle Project, North Eastern Ontario

Then in light of the bidding war today, a very ironic news release on November 12, 2003

"NORONT RESOURCES LTD. (“Noront”) is pleased to report that in its continuing efforts to acquire prime exploration properties in the Hudson Bay Lowlands, northeastern Ontario, that it has entered into a joint venture agreement with Freewest Resources Canada Inc. (“Freewest”). covering 4 claims totaling 62 units comprised of approximately 992 hectares (2,480 acres) in the McFaulds Lake area (“the Property”) adjoining the recent discovery of Spider Resources and KWG Resources Inc. (See press release October 28

th, 2003). The Company has agreed that in consideration of the sum of $25,000 together with the issue to Freewest of 100,000 Noront common shares and Noront’s agreement to expend a minimum of $150,000 on the Property during the first year of the agreement with an additional $850,000 over the next three years that Noront will have earned a 50% interest in the Property. The agreement also allows Noront to earn an additional 10% by delivering at its expense, a feasibility study covering the joint venture Property. The agreement is subject to approval of all regulatory authorities."

Then the staking began long before the summer of 2007. NR from November 19, 2003:

"Noront is pleased to report that it has now completed its acquisition by staking and joint venture of a total of 26 claims comprised of 410 units or approximately 6,560 hectares (16,400 acres) in the McFaulds Lake area, northeastern Ontario. The McFaulds Lake area is located in the James Bay Lowlands of northern Ontario approximately 560 km northeast of Thunder Bay, Ontario."

But just when you thought the irony was over - February 19, 2004

"in connection with its continuing efforts to acquire prime exploration properties in the Hudson Bay Lowlands, northeastern Ontario. Noront has entered into an agreement with Greenstone Exploration Co. Ltd. (“Greenstone”) covering ten (10) mining claims consisting of 160 units (comprised of approximately 2,590 hectares or 6,400 acres) in the McFaulds Lake area, northeastern Ontario. The consideration payable to Greenstone in respect of such claims is $27,089.67 and 250,000 Noront common shares. The agreement is subject to approval by all applicable regulatory authorities.

Noront is pleased to report that it has acquired five (5) mining claims consisting of 80 units (comprised of approximately 1,295 hectares or 3,200 acres) in the McFaulds Lake area, northeastern Ontario, from Mackenzie Watson and Richard Nemis, President and Chief Executive Officer of Noront. The consideration payable to Mackenzie Watson in respect of his interest in such claims is $4,500 and 200,000 common shares in the capital of Noront. The consideration payable to Richard Nemis in respect of his interest in such claims is his out of pocket expenses, only in the amount of $4,500. The agreement is subject to approval by all applicable regulatory authorities."

McFaulds Double Eagle giveway #1: - May 6, 2004

"Noront Resources Ltd. (“Noront”) is pleased to announce that it has entered into an Assignment and Option Agreement with Hawk Precious Minerals Inc. (“Hawk”) wherein Hawk has been granted an option to earn a 50% interest in three large claim blocks covering approximately 24,000+ acres in the McFaulds Lake area northeastern Ontario currently held by Noront and which both companies management believe may be the next large

VMS base metal camp in Canada. Since base metal deposits in other Canadian Camps, Noranda for example, appear in clusters, Noront actively staked as much ground as finances would allow around the three recent and significant discoveries of Spider Resources and KWG’s joint venture in the McFaulds Lake camp.

Significant new diamond drill results recently announced by Spider-KWG returned copper results as follows:

13.8m of 5.5% copper incl. 4.63m of 10.4% copper AND a second bole returned 15.0m of 4.06% copper and 3.31m of 9.98% copper

Only to get it back again: - October 24, 2005

"Noront Resources Ltd. (Noront) listed on the TSXV exchange under the trading symbol NOT, announces that it has regained a 100% interest in its McFaulds Lake property. Noront states that it’s option arrangements with Hawk Precious Minerals Inc. (Hawk) covering Hawk’s right to earn a 50% interest in the Company’s Double Eagle base metals project, McFaulds Lake area, northern Ontario has been cancelled.

Additionally, Hawks’s assignment to MacDonald Mines Exploration Limited (MacDonald) and their subsequent assignment to Diagem International Resources Corp. (Diagem) is also considered cancelled. Noront is now in possession of full and complete releases from all of the respective parties. Noront will retain all of the funds paid and shares issued by Hawk without any further recourse by Hawk or its assigns."

McFaulds Double Eagle giveway #2: - May 6, 2004

"Noront Resources Ltd. (“Noront”) is pleased to announce that it has agreed in principal to an option agreement with Probe Mines Limited (“Probe”) (PRB-TSX Venture) of Toronto wherein Probe has been granted an option to earn a 50% interest in Noront’s Double Eagle project located in the James Bay Lowlands northeastern Ontario. This project was previously optioned to Hawk Precious Metals Inc. but has since been cancelled.

The option to earn a 50% interest in the Double Eagle project calls for exploration expenditures by Probe totalling $2 million to be expended by September 1, 2007, the first $750,000 of which must be expended by June 30, 2006. Probe has also agreed, upon execution of the agreement, to transfer to Noront, 300,000 common shares of Probe and a further 200,000 common shares of Probe on the first anniversary of the agreement, all of which is subject to the approvals of all regulatory authorities.

Noront acquired its 100% interest in 34 strategically located claims comprising 533 units encompassing an area of 8,528 hectares (21,320 acres) in the James Bay Lowlands in northeastern Ontario adjacent to Spider Resources/KWG joint venture where three significant volcanogenic base metal massive sulphides have been discovered."

Only to get it back again to keep this time: - October 24, 2005

"Noront Resources Ltd. (“Noront”) announces that it has been advised by Probe Mines Limited (Probe) of Toronto that it does not plan to proceed this year with further exploration on the Company’s Double Eagle project located in James Bay Lowlands, northeastern Ontario and has returned the property to the Company, which now holds a 100% interest.

The Company further announces that it has entered into an option agreement with Condor Diamond Corp. and Greenstone Exploration Company Ltd. (Condor/Greenstone) to acquire two claims consisting of 8 units adjoining the Company’s Double Eagle project on the following terms:

Subject to all regulatory approvals, Noront has agreed to issue 175,000 shares and complete, during the calendar year 2007, a minimum of one diamond drill hole to test several highly rated airborne geophysical targets established on the claim group and confirmed by ground geophysics after which it will have earned an undivided 50% interest on the claims, and further have the right during the second year of the agreement, to earn the balance 50% upon the issuance of a further 225,000 common shares of the Company. Condor/Greenstone shall retain a 1% net smelter royalty which may be purchased by the Company at any time upon payment of the sum of $500,000 and/or at the Company’s option, issuance of an equivalent number of common shares of the Company."

Then just over three months later, they hit on holes one, two, and five: September 10, 19, 26, 27 (take your pick)

"• Hole NOT-07-01final assay results include; 36 meters averaging 1.84% Nickel, 1.53% Copper, 1.14 g/t Platinum, 3.49 g/t Palladium, 0.13 g/t gold and 4.8 g/t silver.

•

Hole NOT-07-02 final assay results include; 57.9 meters averaging 2.02% Nickel, 1.40% Copper, 1.00 g/t Platinum, 3.27 g/t Palladium, 0.14 g/t Au and 5.3 g/t silver.

• Hole NOT-07-05 final assay results include; 68.3 meters averaging 5.9% nickel, 3.1% copper, 2.87 g/t platinum, 9.78 g/t palladium, 0.61 g/t gold and 8.5 g/t silver;"

And the story went on. Eagle one, Eagle two, Blackbird One, Blackbird Two, and with each new drill bit another increased resource calculation or massive sulphide.

And to think that FWR could have had this all to themselves at one point seven years ago. And what about Hawk/McDonalds mines? Or more recently, Probe? Ouch. Right place at the right time is what Noront found themselves in during the summer of 2007.

M1.