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: Is a new CEO necessary?

I can't tell if you folks are serious about a new CEO or just want to complain loud enough that they give some pacifier news releases until they hit the loads and increase SP.

If serious, please consider prior to action:

1) What would you have Wes do differently then he's doing now?

2) consult with Nemis about these ideas.

3) Organize a meeting with Wes to talk about these concerns.

4) If Nemis were to be CEO, we'd face the possibility of dilution, for he'd surely like to make a deal involving his current company.

5) Know our elected representatives average SP investment.

6) If you are simply trying to get their attention, know your questions. I suspect the core irritation by most here is a lousy SP and we feel like were kept in the dark. Also I think many distrust those who control Noront. Is there anything that can be done about their transparency?

7) Many folks here don't seem to understand that Noront is a five year investment. I don't think they should operate for the short term investors. However, if they were to consider a short-term sell approach, how much could Noront's current nickel sell for, considering a road, not a rail, to anyplace with power for infrastructure. If your response is that Cliffs would make it. we'd be the add on, then in calculating Noront's estimated nickel, you'd have to factor in a JV with Cliffs. What SP does that place Noront at and what can Wes do about it, except keep trying to find more feasible ore until we have enough that a Major makes an offer.

If Cliffs already had the infrastructure, then a Major could give us a sniff. But don't you think we need to at least find two thirds more before someone cares that were lifting our tail?

Alas the real problem is, we are behind in our drill program, the crew has complications at depth causing the delay in results, making us impatient. Fancamp and Noront would be praising Wes if AT-1 hit nickel at depth. But the rig had complications. Now were scouring our lands with drills. Isn't that what Nemis wanted to do?

In the mean time we all know the SP will climb back to $1.30 again for some fabricated or unexplained reason. TBM is about to make noise again. NOT is drilling. FNC will drill in a few months. Probe? Cliffs has occupied FWR camp. Take advantage and buy now and make a little cash while your bulk of shares patiently wait for long.

-sg

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