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: Deep drills and regional targets

This is just my opinion, but does is seem like Noront has made a fundamental change in the way they view the conceptual nature of the convergence zone at depth in the second to last NR.

Deep drilling at Eagle’s Nest has encountered technical difficulties, which have delayed results. We

will report results from the deep drilling when they become available. Two holes are currently

underway to test the promising structural convergence zone at depth at Eagle’s Nest

To me, Noront is calling it a structural convergence zone, not conceptual in nature any more. The question is, what information do they have to make the jump from conceptual in nature to promising structural convergence zone?

I wait patiently for the answer; these are just my thoughts and not to be taken as fact. Any other ideas on this statement are welcome,paliman

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