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: Spoke with Sir Richard today.

Thanks Scarff for that post, and Sir Richard's always welcome insights.

His remark that Noront has let all their Exploration people go, and that Noront now seems to be a Production company, not an Exploration company, is positively unnerving.

What on earth is our BOD doing?! They seem beholden to no one when asked for more news, and the stock price continues to be squashed and dead in the water. For some time I have felt that Management just doesn't know what to do next. One day chrome is great; the next day, chrome is out, and it's back to Nickel as the top priority. One day we're an exploration company; the next day we're a producing company. And Windfall Gold has never been fully explained.

Neighbors are stirring, and it's time for NOT to declare itself a little more clearly. Is it negotiating with Cliffs for Not's chrome?...Is there interest in a joint venture with Probe, or takeover of Probe?" Is there any interest in KWG, or FNC? Sure, great deposits are still in the ground with enormous potential, as proven by the fact that Richard has not sold one of his shares. WES cannot comment on possible takeovers or jv's of course, but I do expect that he could provide more direction and vision that might rescue NOT's stock price from the depressed $1. range. Surely, news has piled up.

Those that made Noront great have all left! Richard now suggests there may be a change in the BOD! I have no idea what this means, but any thoughtful change will be to the good.

I vote for NOT to return to Exploration! Maybe we should give Noront back to Richard, the most revered of Explorers, and a very humble, honest gentleman. And please, don't tell me to be patient, or to forget glory moments of the past.

We've given WES full reign; but I am worried. NOT seems to be drifting, with no sense of its prime identity.

Forgive me for thinking out loud...

jmho

Jacki

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