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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: Wasserman report suggest 7 million mt @ 3% Ni...Don

Hole # Visual Results

20 66.4m of sulphide mineralization

21 29.8m of sulphide mineralization

22 21.0m of sulphide mineralization

23 18.8m of sulphide mineralization

24 71.7m of sulphide mineralization

27 54.0m of sulphide mineralization

28 33.0m of sulphide mineralization

29 60.2m of sulphide mineralization

Noront had the following comments regarding the mineralized body: “The north-south-striking

peridotite intrusive body hosting the Eagle One occurrence has varied in horizontal width from

approximately 40 metres at the north end (in drill holes NOT-07-9, 10, 11) to 85 metres at the

most southerly drilled section of holes (in holes NOT-07-12, 14, 16, 17) for a horizontal drilled

length of 130 metres and remains open to the south. The mineralized peridotite including basal

massive sulphides on the west side, are overlain by net textured sulphides which in turn are

overlain by lower sulphide mineralization to the east; all carry significant nickel-copper-PGM

values in the five holes assayed to date with another five holes for which assays are pending. The

Eagle One mineralized nickel-copper zone (an MMS-type deposit) varies in horizontal width from

approximately 40 metres at the north end to 45 metres at the south end and remains open at both

ends. Maximum vertical extent of the mineralized zone thus far from the bottom of the shallow

overburden and younger limestone capping is approximately 130 metres as outlined by drilling to

date.”

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