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: Court ruling

"How important and damaging is this ruling to Noront ?"

Not very important and not damaging at all to Noront.

It probably is very important to the local natives because it gives them another important reason for inclusivity.

Noront is on good terms with the locals and that ruling probably confirms more stability in that relation.

Some investors may be exiting but it is from misunderstanding the relationship or on pure speculation and fear that there could be trouble in the future. They are entitled to that opinion, I however think that the future, while may have a hickup or two, is positive on the whole. Hence am glad to pick up a few shares from the weary.

Cheers, Ed.

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