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: please break down noront's valuation for offer = $.93.

On phone with fellow FWR holder. quick like,

Can anyone explain how NORONT's OFFER equals $.93 or more as of today. Break it down for me.

how does 3.5 shares for one = $.93 or today a little more.

thank you.

-sg

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