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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McFauld's Lake

The McFauld's Lake property in northern Ontario is being explored for nickel, PGM's and chromite. This property is adjacent to Noront's Eagles' Nest Ni, PGM deposit which the Company believes to be a deep level fault offset of its C-1 target. Extensive deep intersections of massive chromitite carrying grades comparable to other chromite discoveries in the immediate area have also been found by the Company in the vicinity of C-1. Currently Fancamp is still awaiting Ni, PGM assays for the last deep hole drilled on the C-1 target.

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