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: First Nickel way ahead of us while we stand still.

Noront is not standing still but moving so fast that we can't see it. 2016 is twice as fast as normal. Noront would be even faster if we didn't have to coordinate with Cliffs. We are ready now to start. It is Cliffs that needs more time.

Currently, both Cliffs Resources and Noront are driving toward a production timeline of 2015-16, for their respective mines.

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