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: entitlements and compensation

Perhaps, Dennis, there was no response because of the acidity of the question. Or because everyone felt that if you understood the rules, you wouldn't ask.

At any rate, they are not required to report their salaries, except for when they release their annual report. And in Noront's case there are no additional options that can be given, as they are at their maximum allowed. They did try to increase this maximum, but were voted down at last years AGM. There will be options that expire because of the two resignations, but I would guess they will be given back out to the two new directors

best regards

K

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