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: Sometimes I wonder about you guys... Bravekind et al

My only comment to you Bentonstock is that Noront right now is developing a company-they have come a long way in 10 months. They are doing everything right except the promotion of course. We have a serious deficit in that regards as you point out but this will not last forever. The pieces of the puzzle are coming together and right now, to launch a major promo campaign may not be the best use of resources. The complete 43-101 report will be out 45 days from the initial resource estimate and will contain a report prepared by Dr. Mungall discussing the significance of the Chromium I believe. This will allow RN to discuss E2 properly and in context with a resource estimate. We have many drills working right now-as do many Rof players, and more is sure to be found in the Rof. I have heard that a tour of the western US is being organized by JPM for the Fall with RN as the main speaker. Do you think RN will have much more to discuss at that point? Do you think the info that he will be able to communicate will strike a cord with institutional funds and high net worth investors. These groups of investors invest mostly in stocks that have less speculation and a more solid foundation than we currently have. By the fall, we will have a tremendous foundation with more hits, a complete 43-101, possibly a listing on a board they respect-the TSX as opposed to the TSX-v and possibly information from a major involved with us in some capacity. That is the perfect storm I see by October. Now that story will create a feeding frenzy from those investors you hold so dear and that can move our stocks not by pennies a day but by dollars a day!!! I believe this is the plan and I believe they will execute it very well.

Long as usual,

Glorieux

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