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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I believe that Noront is attempting to drill below 1 kilo-metres within proximity to NOT-09-49 using the fourth drill and report new high grade mineral deposit while other three drills are trying to find the direction of the extension. I think this scenario will not only save drilling costs but also bring good results to the shareholders in the immediate future with assurance.

Eagle 1C (the second lens), also located vertically under Eagle 1A and directly under Eagle 1B, returned:

  • 149.5 metres averaging 2.4 per cent Ni, 1.1 per cent Cu, 1.0 g/t Pt, 5.1 g/t Pd from 796.2 metres to 945.7 metres including:
    • 23.7 metres averaging 5.2 per cent Ni, 1.0 per cent Cu, 0.2 g/t Pt, 7.9 g/t Pd;
    • 21.0 metres averaging 2.5 per cent Ni, 1.0 per cent Cu, 0.4 g/t Pt, 5.3 g/t Pd.

This was successively accomplished as the hole crossed in and out of the main footwall granodiorite-periodotite conduit contact no less than five times before reaching its final depth of 1,004.1 metres. In the process, the hole cut two distinct lenses of mixed disseminated to massive sulphides.

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