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: Interesting spring looming!!

Below is a list of dates that might not prove to be "Game Changers", nevertheless

they bear watching IMHO.

1)- On April20/2013 Eagle Hill will deliver Preliminary Feasibility Study(PFS) on that

date or before in order to satisfy conditions of Options Agreement dated July21/09.

Noront, on the other hand, has a different interpretation on number of points of the

same Agreement.

2)- May 2,2013.....Baosteel's right to increase it's ownership in Noront to 19.9%

expires on that date.Also the standstill provision expires on the same date.

3)- June 2,2013 10 millon + share purchace Warrants exercisable at $1.16 for a

period of 24 months expire on June 2,2013.

4)- The only thing remaining after june2,2013 is granting to Bao by NOT of a

90 day exlusivity period to negotiate a direct property interest and/or off-take agreement with respect to any Noront's properties with such exlusivity period to commence any time prior to production at Noront's discetion

Sincerely wishing all the best of luck,

Fossil

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