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: Misfit's morning musings for Thursday, December 3, 2009

Hi Misfit,

Your write"

" I will go out on a shorter limb here and say that unless Noront has the backing of a major like XStrata at this point, no bid NOT offers will be successful in taking over FWR. They do not have the deep pockets to withstand the premium required to be paid in the midst of this war. They also have a lot of institutional investors whos shares, as diluted as they have become over the years, have been purchased at strike prices of $2.80 and $4.00 and $5.00 en masse."

Misfit, Noront may not have the deep pockets as far as cash goes but they have the deep deposit at the Eagles nest and the "confidence "in the deposit.

Q&A October 5 as seen on Noront Website

Question: Why did Noront announce it's intentions now to go after Freewest.

Reply: Management has greater understanding and confidence in the Eagles nest deposit.

We have had 5 drills going and only 5 holes released. The flakes of snow have been compressed into some hard hitting snowballs in my opinion. They can come flying at you at high speed .

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