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: Re: NOT just yet, she’s just revving her engine on the starting line…

There are many reasons Noront would go up and KWG wouldn't. This is where people keep getting caught up in the chrome. The only project that an E/W road benefits is noronts eagles nest nickel project. No one is close to as advanced on any project as noront is with EN, with the exception of Cliffs, but they suspended their EA. Despite what is written on these boards, these are the only two advanced projects, period.

Noronts SP blunders over the past month are likely attributed to tax loss selling, KWG and others don't have near the liquidity so it's not easy to unload shares to take the loss. At some point it was expected Noront would return to pre-tax loss selling levels. This is reason #1 for Noront to climb where others wouldn't.

#2 is Noronts imminent EA that is coming out. Noronts EA doesn't help KWG or BOL or others. In fact, with the east/west route attached to the EA, it could actually hurt others as we all know a service road isn't going to cut it for the chrome.

#3 is anything that is only pertinent to noront. There could be many things from the EA, to financing (we know this isn't it but i'm just using as an example), exploration announcement, insider buying, etc, basically anything that pertains to noront solely.

I think many retail have sold noront for the tax loss and now seem to be exceptionally worried about the 30 day wait period. It's a risky game to play, some will win, others will miss the boat. We shouldn't be at all surprised to see buying coming into noront, the stock is grossly undervalued. It's also possible a surprise is in store for shareholders that did hold on. It wouldn't shock me at all to see noront at .30 + cents before the new year even begins, it can't stay here forever, given the EA, likely infrastructure announcements, tax loss re-purchase, nickel prices moving up, etc. The same pressure that drove NOT down, will drive it right back up.

The longer this plays out, the more the cream will rise to the top. All ROF players won't see the same appreciation moving forward. Noront is positioned the best by far, certainly in the short to mid term time horizon, so this move, and the ones to come, are no surprise. Cheers to better days folks.

djje

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