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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Fossil -

........."If Baosteel then chose to exercise 10million warrants @ $ 1.16 it will altogether

give them 25% of Noront for mere 50 miilion dollars.".......

.

Somebody correct me if I am wrong, but I believe any shareholder cannot exceed 19.99% holding in a company without making an offer to all shareholders.

Regards,

Canseco

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