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: Dundee Capital: Noront Signs Exploration Agreement with Webequie First Nations

Interesting news, just got it as I was in a 8 degree, pouring rain golf tourney all day. I am actually surprised the impact of this from the following perspective was not mentioned in today's posts. Anyway, allow my to suggest that an agreement with WFN is bigger than it first appears and for the following reasons. 1) The WFN as with all first nations people are VERY careful who they associate with and for good, historical reasons. There are economic, employment, environmental and social inplications with this. 2) Unless the WFN were fully advised and educated on the impact and potential, they firstly would not require an agreement rather an understanding, and secondly would not have gone to the lengths they did, (See blockade) 3) The biggest point I would offer is that the WFN (as with other First Nations) WITHHELD investment capital, support and full co-operation until this was done. Therefore I now believe (and hear) that investment interest, possible capital involvement and most importantly promotion of NOT specifically and the ROF generally is forthcoming based on their new comfort level. The blockade spooked some investors, I believe this is now mute and we are poised.

Do not underestimate the short term (and especially the long term) impact this good development affords. IMO

Best regards,

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