EXCERPT FROM DEC 13 2007 RELEASE Rhodium Present

A series of samples from hole 1, 2 and 5 were selected based upon the presence of significant grades of platinum and palladium in the first pass analysis. Twenty samples were re-submitted for the total suite of Platinum Group Elements (PGE's) to ALS Chemex, using their process code PGM-MS26 for Pt, Pd, Ir, Os, Rh, Ru and Au, an additional assay using ALS Chemex processing code Rh-MS25 was also requested. The latter sample procedure is done in Canada while the former procedure requires the samples be sent to ALS Chemex lab in Australia. The same set of 20 Samples have also been submitted to ACTLABS in Ancaster, Ontario as part of a lab-lab comparison. Results from the Rhodium specific analysis have been received, the results range from 0.002 g/t to greater than 1 g/t. The results, while not being conclusive, suggest that Rh is present in the Eagle One occurrence, consequently all samples must now be analyzed for Rh as well as the other PGE's. Noront will provide details of this study at a later date.

The spot price of rhodium has risen from a spot price of $452/oz on January 2004 to $6,725/oz. on December 12, 2007. A basic introduction to rhodium can be found on www.kitco.com: