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: I will do with EA out:

Re. the 90 day comment period, here is what I could find for more detailed information:

http://www.norontresources.com/?pressreleases&permitting_technical=1

Click on the PDF link for the (currently) second item on that page, more specifically, the April 20th release entitled "Environmental Assessment Process Fact Sheet."

At the bottom of the PDF, you'll see two boxes outlined in green, which offer clarification about timelines relating to the EA process. Specifically, the left box is the "Steps In The Provincial Environmental (EA) Process"

Assuming the release of the EA this Friday, December 20th, then we have the following approximate timelines that we can hope for, assuming that various entities can keep things on track:

1. Government/Public Review: approx 7 weeks, ie. until about February 7th.

2. Notice of Completion of Ministry Review: approx 5 weeks, ie. until about March 14th.

3. Public Inspection of Ministry Review: approx 5 weeks, ie. until about April 18th.

4. Minister's Options: a 13-week window.

My guess is that the timelines on the first three items would be fairly firm. However, I believe that the absolute earliest we could see any official provincial approval (as one of the Minister's Options) of the EA submission would therefore be in the last week of April. More likely it would be toward the very end of that 13 week window in #4, so probably late June. And of course, there is the chance that approval could be held up in #4, and the EA needing additional rework.

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