Shareholder Rights confusion.....(WES comments)

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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jacki79

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Shareholder Rights confusion.....(WES comments)

posted on Aug 16, 2010 01:12PM

Hi Notsters

I just called Investor Relations to get Wes' correct Email, and when told I was a shareholder, Wes picked up the phone, and we had a warm chat. I complimented him for the warmer relations with shareholders recently. The following emails are self explanatory. Jacki

Good Morning Wes

I'm following up on an email that I sent to you last week about the Shareholders Rights Plan. (See below correspondence)

I have not received your reply, but today you did reply to a shareholder saying that the SR Plan had expired last year due because it was not brought up for discussion; and you hoped this would clarify any confusion.

It doesn't clarify it for me.... I thought that the SR Plan was in effect until 2016. Who knew that one had to bring it up for discussion? I thought renewal was automatic every 3years. If it wasn't so, I think Management should have brought it up for vote approval last year.

At any rate...Will you please put the SR Plan back on the agenda and have it reinstated at this year's AGM.

Please do let me know if I'm out of line here. I just want continued protection for shareholders at this exciting time in NOT's life.

Thank you, Wes.

Jacki Jackson

Shareholder

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Email to WES

posted on Aug 13, 10 01:32

I just sent the following email to WES. Will let you know if I hear anything.

Jacki

Hello Wes

Thanks for conversing with NOT shareholders directly recently. Most appreciated. I'm jumping at this window of opportunity!

Wes, there is confusion about the NOT Shareholders Rights Plan. This plan was adopted

in 2006, renewable automatically every 3 years at the AGM, through 2016.

Did this plan mysteriously expire in 2009? I would have thought that any change to the Plan and its expiration year of 2016, would have required a vote of shareholders?

If it has expired, will you bring forth this Shareholder Rights Plan for renewal at this year's AGM?

I look forward to your comments. Below is reference to the Plan.

Best wishes and again, thanks for your more open conversation with NOT shareholders.

Jacki Jackson

Shareholder

Annual Report 2007 (SEDAR Oct 01, 2007, p. 14):

SHAREHOLDER RIGHTS PLAN

, 2007. The Plan provides the Board and shareholders with more time to fully assess any unsolicited take-over bid without undue pressure, and to pursue, if appropriate, other alternatives to maximize shareholder value and allow additional time for competing bids to emerge.

The plan was not proposed in response to any acquisition or take-over offer and is not intended to prevent one.

The rights become exercisable only when a person or party acquires or announces an intention to acquire 20% or more of the outstanding shares of the Company without complying with the “Permitted Bid” provisions of the plan.

Although the plan took effect immediately, Noront will submit the plan for confirmation at a special meeting of shareholders within the next six months, and it will be subject to reconfirmation every third annual meeting of shareholders until the plan expires in 2016.

On December 22, 2006, Noront’s Board of Directors voted to adopt a shareholder rights plan, to encourage the fair treatment of shareholders in case of a take-over bid for the Company.