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: Kudos to B-JAY

Fossil, we do not know each personally and I did not post on the NOT board in a long while and yet you attack me here. You also have 22 thumbs up so I feel I must defend myself here. I promised myself I would not post on the NOT board again about ZEN but you give me little choice as I take a lot of pride in my reputation.

First let's look at B-Jay's post and my reply:

Wowee talk about a kik in the but ,,for sure .when are they going to talk this up again .

what happened,did the wheels fall off.

BJ

nope, just a golden opportunity to sell NOT and buy ZEN IMO.

G.

BJ was emotional as anyone would be when selling a stock like NOT that has been in the dumps for so long and buying a high flyer and seeing the dead stock move up all of a sudden and the high flyer crashing.

My response could of been more tactful but I stand by my answer.

Second, let's look at the ROI when I made my statement on August 28th at 3:04pm:

NOT: was 35 cents, now closed at 40 cents, up 14%

ZEN: was $3.45, now closed at 3.91, up 13% so a slight edge to Noront here, certainly not enough to call this anywhere close to "extremely bad advise" like you did. The next three months will obliterate that statement IMO.

Now, NOT's prized possession is Eagle's Nest which contains about 20M tons of $350 per ton rock. Yes NOT has lots of chromite, a huge land position and other marginal deposits. NOT also has challenges like their lack of infrastructure and 231M shares out not fully diluted compared to ZEN's 60M float fully diluted.

ZEN's drilling so far has proven up 47M tons of 5% graphite in the smaller of the two pipes in the first 500m of depth. The second pipe looks to hold about 3 times that amount so close to 200M tons of ore. This structure is a diatreme which tends to run down kilometers deep similar to Eagle's Nest. Deep holes will be drilled very soon so visuals to more than a km of depth could come out at any time and assays are pending for the first 500m of depth on the west pipe. I have no doubt that when all is said and done, ZEN will have over 200M tons of ore grading between 4 and 5% graphite. The biggest opportunity ZEN has is in the value per ton and this is where ZEN is so exciting. Nuclear grade graphite sells for $30k per ton, making our ore worth $1,500 per ton. On the low end, ultra high purity hydrothermal graphite like ZEN has should command a minimum of $10,000 per ton of pure graphite or $500 per ton of raw ore.

So an Insitue value for Noront for Eagle's nest alone is 20M tons times $350 per ton, an in the ground value of $7B. This value over 231M shares yields $30 per share.

Compare this to ZEN: 200M tons at the low end of $500 and you get an in the ground value of $100B. This value over 60M shares yields $1666 per share. If we qualify for nuclear grade graphite, we get $5000 per share in the ground.

To me, there is no comparison between Noront and ZEN. I came here twice and told people to look at ZEN. Both times the price doubled in short order. I did this to help people. I am sorry for posting such grandiose numbers for Noront 7 years ago. Noront was the first stock I ever owned and I was very green and I was looking at it strictly from a mathetical point of view. Nickel was also over $20 a pound, Rhodium was over $10k an ounce and Noront had targets all over their map. The market was in a very different time as well. I certainly did not mean to hurt people here. My post were honest attempts to help people just like my posts on ZEN the last 2 times were. The difference now is I am much more seasoned, have surrounded myself with very intelligent people that I respect very much and am much more cautious about targets even though I still get excited about possibilities here.

I do not feel like I need to wear a mask anywhere. I have always posted in good faith and will defend my integrity when challenged. If anyone feels slighted by my posts, feel free to come and see me. I would be happy to buy you a drink and chat.

Best regards,

Glorieux

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