I read this report and like the previous years not happy.

On page 12, question 1, it states "Why is Noront Resources a Good Investment". Seeing how Management is asking this question they should probably ask themselves this as well? The total number of shares 4 of the 7 directors own is 217,500 shares, if it's such a good investment how come they don't ALL go out and buy some of there own shares?? The other 3 don't have any shares at all! Come on guys lead by example!

I still believe we have a fantastic resource just don't know how long it will take to be realized?

Now they are asking US, as shareholders to let them get more options, I say NO WAY, I will be voting NO.

In the summary compensation table it lists the salarys of the top 5 employees:

1- Wes Hanson received a 7.5% pay raise on base salary alone from 2011 vs 2012, Nice raise you got. Not to mention bonus and options.

2- Gregory Rieveley received a 13.8% raised + goodies.

3- Paul Semple only got 3.3% + goodies. Nice to see Paul.

4- Leanne Hall our VP of Human resources received a 9% raise giving her a base salary of, are you ready $160,000.00 + 30,000.00 bonus + options! Are you kidding me? We have 20 employes, who came up with her package? Father, brother uncle or ?

5- Then we have Glenn Nolan our VP of Aboriginal Affairs, 10.7% raise. Do any of you think we are getting any value from this guy? Base salary of $155,000.00 + 40,000.00 Bonus + options.

Lets all get together and vote NO for there goody bag of options they want to give themselves.

Remember has management done anything to increase shareholder value? that's there job. We are but a mere PENNY STOCK

Cheers