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: Commentary Update

If I offered you warrants in Noront with a strike price of $4.00 for 22 cents a warrant, would you buy ?

Please note as at Friday's closing prices - NOT 2.57

Yup, I would buy. If the NOT price doubled to $5.14, the warrants would be worth $1.14 before any premium. Leverage over 5:1, pretty good, IMO.

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