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: financing wording
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"The company requires a further $12-15 million to fund the remaining exploration work, after raising $25 million through a private share placement in August.....

This statement is correct but should not be percieved as "additional finaning needed.""

The use of the words "further...after " creates ambiguity at the least and the sentence structure certainly implies that the $25 mil was not enough requiring "further". It does need to be corrected in the face of the truth. It should read:

Noront raised $25 miiion through a private share placement in August. $12 - 15 million of this balance will be required to complete the remaining exploration work..... (or something to this affect)


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