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: Tides are turning

Relax here professor! Hanson seems to have given what he believes EN will be-nothing illegal. From what has been written here, he sure did not say it as fact. As for grade, I would expect something overall in the 2.2% nickel as per our current 43-101 grade. As someone who has followed this story from the beginning and seen Wes single handedly damage our share price by emphasizing all the negatives of the company like the lack of infrastructure, swamp land etc, it is nice to see he has changed his approach. I do not care why he has changed his approach, wether it is the BoD telling him to do so, some of the funds telling him they need to look good for the year end or he suddenly feels more positive about the situation, what I care about it that all of a sudden, there seems to be a will to promote this company.

I am back in because we had a fire sell because of the PP and I figured I could make an easy 10-20 points fairly quickly. However, if we do have some decent assays and there is a genuine push to promote this we could see a much better ROI fairly quickly. I will look for the tone in the next NR to see how they are playing it. If the results are reported in a toned down fashion, then it is a bad omen and I may be out again but if I see a strong promotional pitch, then I will take this as a hint that the big boys intend to move this before year end and I will be increasing my position.

Looking forward to the next NR, hopefully this week but would not be surprised at further delays-this is still Noront.

Glorieux

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