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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a jv on chromite not and kwg might raise some eyebrows...gl..ken

kennnr........Since the Black Horse property is still big unknown and if and when

Cliffs gets back on track they will surely concetrate on developing Black Thor first

and let Big Daddy sit, maybe for a long time.

So why would Noront want to Joint Venture KWG's 30% of Big Daddy?

Not even remotely likely imo.

GLTA,

Fossil

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