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: Interest payment to RCF
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With today's trading ends 20 day averaging period for the purpose of determining

Noront's price for loan interest payment. Without volume weighing and ignoring

possible adverse affect of dismal showing of C $ the average is $ .412.

Expect a payment of 776,650 shares + or - 50K on or before Oct 15/14 if

RCF opts to get paid in shares instead of cash.

Current quarters amount compares with 518,270 shares paid prior quarter,

that was the lowest amount since the loan's inception. I predicted that the trend

will continue. To my disappointment it did not.

GLTA,

Fossil

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