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: Noront adds to exploration team

Been There,

That's fine, ...but NOT could have explain that to shareholders in its NR, rather than keep them guessing.

Of course, the new VP Exploration would have a good knowledge of CLF data that NOT "inherited" for $25M USD, but most of CLF data (especially drilling info) were known and came from previous companies. The new info would be on CLF work in getting Black Thor into production, including the EA.

Unless CLF data showed that they have information that they hit the jackpot, like a bonanza find of precious metals or diamonds, I would see no need for a major direction/spending in exploration for more base metals. As indicated, the cup has overflown with Ni and Chromite, there is no need to fill it with anymore base metals. (Note: If CLF found a jackpot, it would probably exclude that parcel of claims from the fire-sale of the ROF holdings).

I would use the effort/money in promoting/lobbying for the road, the original EW road proposed by NOT, if it would please the people. In fact, any road would be fine, as long as the Ontario government gets something going (you can sense the desperation). Other roads would follow suit (it's a domino effect), since other FN communities will not want to be left out without a connection to the south. The more roads the better for the building of the RR, since they can build the RR from both ends, from the north and from the south.

We need synergy, not in-fighting and the money we have to pay high-priced lawyers in legal wrangles.

GH

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