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: Everyone relax please

North/south route requires 2 major bridges, one 800m, and one 1200m, and will be built mainly following eskers which have been identified and tested with boreholes, etc for soil quality. It can be done. The bridges provide most of the cost involved.

The east/west route requires one moderate sized bridge at the start and about 70 smaller crossings, many of which can be accomodated with culverts. It is by far more swampy then the north/south route.

I won't debate the merits of one over the other, but from an economic view by itself, the north/south route is the most logical. From a social point of view, the east/west seems the better. Logic though, considering we are talking about the future of the area for the next 100 years or more, suggests both should be built.

However, Noront will not be building either one. A decision will be made by others, and we will, no doubt, be expected to contribute to it. On that basis, it is pointless to publish a FS until the proper parameters can be included.

Best regards

K

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