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: Now we know

why Noront took a chance by parting with the JV with probe for what lies under ( behind door three ) the NW extension. When i saw the drill results of Probe they seemed a bit thin to me and this is JMHO, but the tonnage would not be the 20m i frist thought. At this time i sold my position in Probe,a bit early in hindsight but was good.This is not a bash on Probe because they have lots of good propertys and seem to be well managed. But for me I was playing the cromite card with the Cliffs buy in. So now the one/half tonnage that Noront gave up is not that big. But for Noront to take a risk on the NW extension it must contain a reasonable chance of contianing mineralization. And did you notice that Probe did not part with their properties no the far NW part of this extension. Now will the winter drilling concentrate here, time will tell.

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