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: Noront Resources Announces Issuance of Stock Options

Especially because they "raised" millions recently by once and again massive dilution of long time shareholders (e.g. like myself); due to a depressed share price (compared to multi-year moving average of share price).

(In short - lower share price means more dilution in terms of # of shares needed for another financing round).

To interpret a NR like this as a positive is not at all possible for me personally, and rather a warning sign (e.g. they have to incentivize senior mgmt to keep them motivated?!).

Also do you really feel that senior management has earned another "options package" at this point in time?

The hard truth is that the company as such is under performing in each area thinkable (imo); especially when it comes to Shareholder communications.

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