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: Nahanni reserve zinc mine gets OK

"In addition if Cliffs gets adamant and insists on having it's way, it could backfire on Noront and paint us with the same brush. Deserving or not."

CLF and NOT are involved in totally separate permitting processes at the moment. One of them has to be successful. Noront's mine plan is going to be a hard one to punch too many holes in. I would expect support from everyone except maybe envirinmentalists, and if they put a bit of effort into understanding what they are fighting for, they could actually come out in support of Noront as a prime example of how mining in the future should be done.

CLF is going to be a different story involving a long hard struggle. In my opinion, this is the main reason Noront is staying away from any mention of chrome in their immediate plans.

Been some good discussion this weekend. I think we all come away a bit smarter for it.

Bests regards

K

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