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: Noront Announces Additional Drill Results at McFaulds Lake

Sum if you are refering to Eagle's Nest as economic then we certainly have it in spades. Many a company would be wistling Dixie if they had it.

However today's news does not speak of an economic resource, at least not yet. A couple of economic holes does not make it. We need some richer results before we can call it economic or metal prices have to increase significantly.

A couple of years ago, 120$/ton was considered the limiting price for an economic resource. It was applied to Eagle's Nest. However should we have already all the infrastructure in place from Eagle's Nest operations the cost for today's data should be less, not having the infrastructure costs as a burden.

Of course we are waiting for news from both of the governments to move really forward.

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