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: In response to 'NEWS - Windfall Lake Gold Project Update'

It is somewhat dissapointing that partial or full assay results for DE were not made available today, however I think it is reasonably unfair to attribute negative sentiments arising of this to Mr. Nemis.

His concern for the common shareholder extends far beyond what I am accustomed to; it is extremely rare (as many others have mentioned) to hear of a CEO give of his time so freely to those who seek it

I believe quite a few of us would have missed this adventure were it not for the exemplary communications and regard for shareholders that have been demonstrated by Mr. Nemis and his team.

MacDonald Mines, who have been drilling (allegedly) since November, have not yet provided any indications as to how work is progressing. A different strategy to say the least... but you can be assured that it is far more accomodating to 'Pierre Lassonde and Mark McEwan et all' than to the smaller retailors to maintain a policy of locked communication. I am not advocating against BMK's approach, merely stating that with this policy the small retailer will be waiting to receive information while others are already in or out of the stock. Thus, as risks are vastly different without a 'rumour-mill', planned investment strategy would probably need to change as well.

This is a speculative, hit or miss industry, and I believe this in particular is an instance where circumstances were beyond the control of an extremely reliable source. If you believe there is no such thing as a free lunch, than equity purchases are based on risk-to-benefit assumptions, not sure things. I believe it is important for all of us to remind ourselves that the success of Noront is not imminent, and that autopilot can easily seperate investor expectations from reality (even for NOT). There are still many unknowns in play here.

The disadvantage of info via rumour is that rumours instill an intangible speculative premium into market value that is incredibly difficult to evaluate. When other investors buy/sell on rumour first, the results are cost (if the rumour is negative) and opportunity cost (if the rumour is positive) to those that are last in line.

It seems so far that with the info provided by Mr. Nemis and various forum members, that now at least smaller retailors (many of us) have a fighting chance to make our decisions on a comparable relative timeframe to when the Funds, Trading Houses, Majors etc.. make theirs.

To any who purchased soley on anticipation of news today, may you receive solice in the fact that we are in strong, able hands, with a promising future, and that our CEO is trying his best to look out for us.

Always remember, that a takeover may yet be months/years or more away, and that until this occurs there is always a time to buy and always a time to sell (this is an investment!).

“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.” - Warren Buffet

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