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: It sounds like a victory for Probe Mines *and* Noront; it was an astute move IMO

No question in my mind that it was an astute move. Since Probe was drilling the sulfide targets in early July, there would be visuals, XRF, and possibly down-hole geophysics results that Noront would have access to. The Noront BoD are anything *but* idiots; they are an incredibly savvy bunch. To intimate that they'd give away something of value for nothing seems like bashing to me. I think that this event demonstates a very timely consolidation move for Noront, and it will certainly give Probe more bargaining power when they become a take-out target for CLF.

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