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: Globe says Noront hears gov't bickering crimps progress

The message is the same old, but at least Noront is now being labelled as the main player.

The Globe and Mail reports in its Wednesday edition that squabbling between the federal and provincial governments is getting in the way of companies trying to develop Ontario's Ring of Fire mineral deposit, and causing problems for the area's first nations, says former premier Bob Rae. The Globe's Adrian Morrow writes that last week Cliffs Natural Resources said it was exiting the Ring of Fire over delays, leaving Noront Resources as the main player in the region. Mr. Rae represents the Matawa First Nations in negotiations with the province over the development of the region. The region needs massive infrastructure -- most crucially a road or rail line to ship the ore out -- for major mining to commence. The province wants Ottawa to pick up half the tab. Mr. Rae says: "It is, to me, deeply troubling that the two governments still can't agree on who's responsible for what. ... This is challenging for first nations. It's also challenging for companies that are trying to do business. We need to create some certainty." Mr. Rae says more crucial than rushing to make a deal, it is more important to get the deal done right. He says all parties need to stick with negotiations.

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