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: Re: MD&A-SEDAR
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MD&A-SEDAR
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Fossil
Nov 27, 2015 09:03AM

It appears that 150,000 options expiring in December, that are priced at $1.25, will not be exercised. That will reduce the fully diluted number a bit. There are 1.9 million priced at .88 that are set to expire in May of 2016. Hopefully our share price will be above that so that it would make sense for people to exercise those options and put some cash into the company coffers.

I apologize for the formatting below. I copied it from SEDAR but it didn't paste here in the same format.

Noront Resources Ltd.
Number of Remaining Number of
Stock Options Black-Scholes Exercise Contractual Stock Options
Outstanding Value Price Life (Years) Exercisable Expiry Date
150,000 108,660 $ 1.25 0.23 150,000 December 2015
500,000 69,000 $ 0.30 0.48 - March 2016
1,900,000 1,292,760 $ 0.88 0.60 1,900,000 May 2016
300,000 179,400 $ 0.86 1.10 300,000 November 2016
200,000 108,800 $ 0.86 1.19 200,000 December 2016
1,700,000 557,600 $ 0.46 1.80 1,700,000 July 2017
300,000 70,200 $ 0.35 2.04 300,000 October 2017
4,283,333 578,250 $ 0.25 2.78 3,227,778 July 2018
3,000,000 450,000 $ 0.30 3.01 2,000,000 October 2018
3,036,667 258,117 $ 0.17 3.20 2,024,445 December 2018
250,000 79,250 $ 0.59 3.60 41,667 May 2019
1,366,667 422,300 $ 0.55 4.51 455,556 March 2020
1,500,000 367,500 $ 0.44 4.72 500,000 June 2020
300,000 58,500 $ 0.35 4.91 100,000 August 2020

18,786,667 $ 4,600,337 $ 0.40 2.68 12,899,44

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