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: Consolidation

Knowing a bit about RCF's history, and what is at stake here, I don't see why we would not do well. Recently though, someone whom I respect greatly pointed out to me that no matter how much money may be offered to the FNs, if they don't trust the new owners who attempt to takeover, then everything is back to square one, with all the blockades, sacred lands, environmental concerns, and or court cases to go along with it. Any major coming in knows they are going to have to consult with the FNs, so why would they not encourage more than just a little development in the ROF. Instead of rushing in to scare the FNs off, making them back away from progress, refuse to sign agreements, develope mistrust, and in essence hold the Ring hostage for another 5 - 10 years.

My comment is merely to say be careful what you wish for, and listen to the common sense approach here, which says best to leave well enough alone until progress is made. Any major can see that Noront is making headway where many would have failed, for they have not spent the time with the FNs to full understand what it takes for progress to be made, and trust to be earned. Who knows, with our momentum we may just find ourselves in a position where we are closer to opening a mine then you think, just because of how we have been conducting ourselves with the FNs.

GLTA,

TM.

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