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: Share ownership

You could probably count Rousseau, Glencore, and Sprott in the mix of large shareholders, although after all these years who knows how much they have. Heck, Elon could even be part of that, and so could a rich philanthropist in the US who made his fortunes in military tech could be part of that crowd. I can't remember his name right now. Again, it had always been said that the small retail of Noront amounted to about 10%, which now looks more and more like 8% - 9%. The rest IMO are shareholders of a much higher regard than those of us mice running helter skelter looking for scraps.

But only one thing is true IMO...Us lowly retail showed our cards before the interim retention election. This percentage is probably a pretty accurate number because we are all less in the know than others, so I am inclined to think that we did not mess around before March 14. We made our decision as to what rides and what does NOT to avoid the anxiety of second guessing ourselves by choosing later to retain, and then relying on others in such a short period of time to jump through hoops to make the correction. Thanks...No thanks. 10 days to get back your shares to me does not seem like an easy task even though it has been gifted to us as pretty straightforward on paper. As they say, "The devil is in the details and the fine print." Just cause something is possible doesn't mean it's easy. So...That being said good luck to those who did not retain their shares before March 14, but are looking to do so now before Friday.

TM.

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