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: Re: NORONT AND BAOSTEEL RESOURCES SIGN BINDING TERM SHEET

Never under estimate the shrewdness of the Chineese to carve the deal all in their favor. IMO,it seems that NOT has caved in on this deal. Just too much flexibility/choices being given to the Chineese.

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