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: Loans and shares

From Sudbury,

You mention:(in regards to the RCF) convertible loan:

"At the current share price of .15, this would translate to about 130,000,000 shares (assuming 1.3 US to CDN)....not including current interest."

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why are you misleading investors reading this board?

The MD&A clearly stated: "All other terms and conditions of the Convertible Loan remain the same"

THIS MEANS:

The Convertible Debenture may be converted into Noront Resources common shares at the option of RCF V at a price of $0.34 cents per share !

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As Far as Franco Nevada goes loan due date April 28, 2020. Nothing mentioining the ability to convert into shares.

And use use 15 cents as an example! Not only does the below deal not involve conversion into shares, you imply that should this change be made the share price in April 28 2020 would be 15 cents.  Very Deceitful of you.

To finance the transaction, concurrently with the execution of the revised share purchase agreement, Noront entered into an amended and restated loan agreement (the “Loan Agreement”) with Franco-Nevada through which Franco-Nevada will loan US$25 million to Noront for a five-year period at a 7% interest rate with interest to be accrued and paid at the end of the loan term. In return, Franco-Nevada will receive a 3% royalty over the Black Thor chromite deposit and a 2% royalty over all of Noront’s property in the region with the exception of Eagle’s Nest, which is excluded. The Loan will be secured against the CCOI and CCFNI assets acquired in connection with the Transaction. In addition, Noront will receive from Franco-Nevada US$3.5 million in cash consideration as part of the granting of the royalty over the existing Noront property. The Loan proceeds and a portion of the royalty payment were used to fund the acquisition price of the Transaction.

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