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: NR had an answer today

Do we have mineralization below 1100 meters. Yes.

Is is decent. Yes.

Today's NR told us this in a round about way.

From today's NR:

EXPLORATION UPDATE:

Plans for 2010 remain focused on completing the infill drilling and testing the Eagle's Nest deposit at depth. The Company has commenced drilling at prioritized geophysical targets proximal to the Eagle's Nest deposit. Currently we have six drills operating with five dedicated to the Eagle's Nest program. The sixth drill will focus on regional target follow up.

So...currently we have six drills going, 2 are the deep drills.

I re-read the April 26 NR again this time more carefully:

It stated the following:

Both deep drills are now on site and are fully crewed and deep

drilling has begun with one of the drills. Our current plan is to extend hole NOT-09-049 as deep as possible and once again utilize it as a platform hole for down hole geophysics. Given the depth of the planned drilling, the Company cannot reasonably determine if this deepening will or will not follow mineralization. Follow on holes will be contingent upon the results of this hole

So, after 5 weeks Noront continues to operate both Deep drills.

It is clear the results were good enough to justify continuing. April 26 NR was clear, based on what we find it will determine if we do more deep holes. Deep holes after 5 weeks are continuing.

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