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,was a give away or an astute move ?

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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