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

Jul 10/15 Jul 10/15 Resource Capital Fund V L.P. Direct Ownership Common Shares 11 - Acquisition carried out privately 912,859 Jul 1/15 Jun 30/15 Resource Capital Fund V L.P. Direct Ownership Common Shares 10 - Acquisition in the public market 101,852 - See more at: https://canadianinsider.com/company?menu_tickersearch=NOT%20%7C%20Noront%20Resources#sthash.WLnLTTtL.dpuf - From Canadian Insider

A) I underestimated the number of NOT shares needed to satisfy Interest Payment

for the latest quarter @ 800,000 as opposed to actual number @912,859 shares.

B) 101,852 shares reported a day earlier should have been reported as

11-Acquisition carried out privately instead of 10- acquisition in the public market.

Sincerely GLTA,

Fossil

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