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: Noront Completes Acquisition of Securities of KWG Resources Inc.
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This notice confirms the sale of Cliffs assets to NOT has been completed in relation to shares of KWG. Nothing could have been done with the shares until the sale was completed.

Will be interesting to see now what happens between Not and KWG as Not can now legally deal with the Cliff assets as the owner. We know that Frank submitted an offer to buy back these shares to the bankruptcy court at 50% above current value which was declined. This may now might be a the litmus test going forward to see what NOT will do If Frank now gives the same offer.

Suggest that NOT could probably use what could be in excess of $3- 4 million that was offered.

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