Re: Noront's MD&A

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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BigD70

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Re: Noront's MD&A

in response to

Noront's MD&A

irish1111

posted on Aug 21, 2015 10:09AM

http://sedar.com/GetFile.do?lang=FR&docClass=7&issuerNo=00003339&fileName=/csfsprod/data151/filings/02332003/00000003/g%3A\SEDAR\Noront\2015\A-MD%26A\2014_MD%26A_Restated.pdf

The Company’s primary objectives for fiscal 2015 are, therefore, to:

1. Obtain approval of the Company’s Federal Environmental Impact

Statement (“EIS”) / Provincial Environmental Assessment

(“EA”) on the Eagle’s Nest Project and associated transportation corridor;

2. Obtain a formal commitment from the provincial / federal government on the Company’s infrastructure plan;

3. Update the Eagle’s Nest Feasibility study incorporating the results of optimization studies and input from the constructors engaged on the project;

4. Initiate formal impact benefit agreement negotiations with the primary communities affected by development;

5. Conduct a Preliminary Economic Assessment on the chromite project and incorporate it into its development pipeline; and