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: Wes BNN clip

You have to wonder just why Wes (management) have decided to bring this issue with the natives to the forefront....these interviews and all.....just wish they would promote their finds as well. Regardless....looking at cause and effect....seems they certainly aren't too concerned with their share price at the moment; rather, they may be looking at Cliff's share price as they stand to inherit Cliff shares if this deal goes through.

Negative publicity around this issue may be having some impact on Cliffs share price as it is down over 5% today. In these interviews, Wes is sure to make mention of the takeover by Cliffs of FWR. A reduced share price for Cliffs = more Cliff shares for NOT (assuming the merger/takeover is successful).

I think many here may assume that Noront will vote No, but they do stand to gain much if the outcome is yes. As mentioned several times and certainly through various media, a successful takeover by Cliffs will improve the certainty around infrastructure and will likely lessen that burdon on the other players in the ROF.....and in particular NOT, not to mention the nice little profit they stand to gain on those tendered shares.

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