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: Stalemate?

a. The first thing is what's going on with Noront's Eagle's Nest EA/EIS. Last I remember, say 2 months ago (please correct me), FN's in the area were given funding from the feds to study the route of the E/W road, and the time for that study should be ending soon, no? Then what?

I was "given funding" for a project for one of the provincial governments not too long ago. Once I was told that it was pending, it took over two months just for them to write up a contract for the services. I completed the work at the end of March and invoiced at that time, and I realistically don't expect to receive final payment for several more months, based on past experience.

Between the "speed" of government action, and the pace of certain FN activities (which require a certain amount of contemplation and consideration, every step of the way), I would be quite surprised for the above-mentioned study to be completed in 2015.

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