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: Talked With Alan & Paul

After the close today, I spoke with both Alan Coutts and Paul Semple. I was just looking for their thoughts.

Both are very optimistic for the future, yet very surprised at how NOT sp is being punished. They are pleased with the attention that the ROF is receiving in the press across the country and glad to see that Noront's name is now being referred to. Pleased with the higher profile.

I was asking for them to release something prior to the EA, but that apparently won't be happening. The EA will be out on December 20th (Alan says he has been telling people this recently) and this will be the next news.

Both RCF and BAO are quite prepared to back Noront fully and will when three things are announced.

1) EA Progress

2) Announcement of Infrastructure at appropriate levels

3) Meaningful Advancement with the FN's

Paul is very confident with the ROF Minister Gary Rickford, numerous conversations and he wants it to happen for the north where he's from, and the rest of Ontario.

I feel better. RM

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