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: Notwithstanding....

I'll agree and add that while Noront Management is not glued to the ticker tape like some of us they are concerned about market price of shares.

Dick and likely others are positive that current market is grossly undervaluing Noront. Obtaining a fairer market price both gets annoyed shareholders off their back but more importantly gives Noront a lot more flexibility and muscle when it comes to deal making which can involve shares/options.

Not unlikely that institutional investors, at least some, have a base price below which they aren't intested in investing. I know for a fact some outfits will not touch shares trading below $10.

No doubt managment have a plan to educate the 'market' involving 43-101's and gelogical guidance as well as drilling to define ore bodies and value. Noront Management likely have a concept of what they have uncovered and how to expand upon this. We can't expect results immediately but can pretty much count on it over coming weeks and months.

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