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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: Under The Radar?

I would like to remind you Scarff that some, namely me for one, regard Noront as still an
exploration company and far from being a Developmen company.

But that opinion has little to do with our sp being in the cellar.

Those very knowlwgable companies are not interested in raising our sp, but quite to the
contrary, they want it as low as possible for the day that one of them decides to take us
over and they end up paying the least for their effort.

What excitement there is is in the anticipation of when the necessary infrastructure is
announced. Once it happens I will be most surprised if the sp does not double immediately and assume a level several times higher than current.

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