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: This deal will go thru
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I am not sure what made them decide to make a bid on Friday but the NR this morning was to make sure no one took advantage of the information that NOT wanted to acquire FWR. Wes wants everyone on the same footing and rushing this NR is keeping with his promise to shareholders.

As for Noront Value vs FWR, in the last month we arevaged about 8-1, we have offered double that. Just looking at the SP over the last few weeks/months, this offer is very reasonable. The questions are this:

Will a NOT/FWR company do better than NOT and FWR separatly, I believe it will.

Glorieux

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