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: CBC report 'inaccurate' — Cliffs

"If we were still in posession of Windfall there is no reason for us to spend any cash on it's exploration up to now."

Ed, I am presuming we are both reasonably knowledgeable people as applies to the mining exploration rules in most regions of Canada.

In order to maintain possesion of any property requires that a certain and definate amount be expended on an annual basis. Noront understood this, and had the option of expending it themselves, or optioning it out to someone such as EAG, but maintaining a back in option. In my opinion, it was a good decision. As I see it, EAG has to now spend a whole bunch more money, which has to be raised in the same marketplace as Noront is in, or Noront just may have it plunked back in their lap.

None of this contributes to the original question, which is, what should the BOD have done that would have made our share price north of what it is.

I am not being controversial. I am simply asking for an honest debate utilising factual information. Posts stating that they should just drill, drill, drill, don't cut it.

Berst5 regards

K

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