Okay let be honest as to where Noronts share price should be. At the bottom of the economic crash what did we know? Our share price went to a low of 43.5 cents our average share price was trading between 60-80 cents. We had one 43-101 with this independently valued asset;

Total Indicated 1,834,000 1.96 1.18 1.12 3.91 3.81

Total Inferred 1,087,000 2.39 1.27 1.37 4.50 4.21

I believe NOT was suggesting a value of around 1.5 to 3 billion.

People said we are down because of the economic crash.

People said we were down because of depressed metal prices.

People said who would pay for infrastructure.

People said chromite was worthless or at least could not pay for infrastructure.

People said nobody knows who we are nor anything about the ROF.

Today as I write this, NOT’s low in the last month has been $1.35 and we have been trading this month between the $1.40 -$1.70 range. Roughly twice the value as we were trading when the world was at is economic bottom. Yet we now have this update on Eagles nest,

Eagle’s Nest: updated NI-43-101

March 2010

TONNES Ni% Cu% Pt (g/t) Pd (g/t)

INDICATED RESOURCES

6.9 2.04 0.95 1.3 3.4

INFERRED RESOURCES

4.3 1.42 0.87 0.8 3.4

Estimate value 9 Billion dollars.

This 43-101

Blackbird Chromite Resource

BLACKBIRD CHROMITE RESOURCE

(DECEMBER 15, 2009)

Tonnes (million) Grade(Cr2O3) Ratio(Cr:Fe)

MASSIVE

MEASURED 4.2 36.6 1.94

INDICATED 3.4 36.1 1.94

MEASURED AND INDICATED 7.6 36.3 1.94

INFERRED 3.5 34.9 1.95

INTERCALATED

MEASURED 1.0 25.4 1.61

INDICATED 0.3 26.0 1.57

MEASURED AND INDICATED 1.3 25.5 1.60

INFERRED 2.6 31.4 1.77

TOTAL

MEASURED 5.2 34.4 1.88

INDICATED 3.7 35.3 1.91

MEASURED AND INDICATED 8.9 34.8 1.89

INFERRED 6.1 33.4 1.87

Worth I believe around the 7 billion value by some estimates.

So by my calculation Noront has proven a resource value of upwards of 16 billion dollars with huge potential still at Eagles Nest, Blackbird, JJJ, At12, Eagle II and we have a massive land position barely tapped. Yet we sit at a value less than our low during the economic collapse. Our proven value today is 5 times what we new during the economic collapse, and we are barely trading at twice of our all time low range.

Oh and did I mention,

-Yes the world economy is still shaky but it does not seem to effect other companies.

-Metal prices have recovered about 2/3rds of there value(let alone my values are bsed on todays prices)

-Cliffs is building a mine in our area and will pay for some/most if not all the infrastructure costs.

-Cliffs is going to mine the chromite worthless or not

-Lets see we have had a protest to bring attention to the ROF, the Government of Ontario has mentioned the ROF in their Throne Speech, and I’m just having a hard time believing people don’t know about us we some of the largest mining companies have had lunch with us.

So try to tell me we are not worth more than what we see in our share price.

Now keep the Faith.