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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For Noront the most important part of this release is:

"We will continue to aggressively develop our low-cost mines at Nickel Rim South and Fraser Morgan, and to make prudent investments that allow us to operate successfully throughout the business cycle.”

The 'ROF' Nickel deposits are both too close and too rich not to be consider a part of Xstrata's long term planning.

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