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: Re: Noront Resources Encouraged -Spoke to Paul Semple Mar 29

I talked to Paul specifically about ""Noront Resources plans to begin mine development in 2015 from one of Canada's highest-grade nickel, copper, platinum group elements discoveries and be in commercial production by 2017."

There is no change to the mine build schedule/timeline described in the already released feasibility Study (FS).

This means (according to Paul) that in order to stage the heavy eqipment/supplies/housing at the mine site to start the RAMP construction, etc---> commercial production in EARLY Q1 2017; a winter road will have to be built commencing at winter freeze in Q1,2013. There allways had to be three winters to build the mine, not two. this has never changed.

In my opinion this also must mean that necessary pre-permit/permits/FN ( 6 communities local cooperation; bridge financing; is in place in order to commence with the above. The PR says that Fed political approval (and funding, moral and actual support) are in place, with formal further announcements to come . The Ontgov. is already "In" to some extent with their part in the APUC "Three P" announcemet. It is also my opinion that APUC powerline Phase 1 ($300M announced); phase 2 ($300M "coming shartly") and Phase 3 (aka EW winter road to mine +power pricing)... will be announced when maximum political benefit can be achieved by all ON provincial political parties). The Feds will string out their announcements to better fit with the Fed spring?2016 election.

Peter

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