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: Some Straight Talk

I agree and disagree SN.

I agree with your thoughts on KWG "winning". I don't see what they have won except for a microscopic bargaining chip. Personally I believe cliffs has already made it very clear that they are past the point of bargaining. No one likes cliffs take it or leave it attitude, but I have to say that I can kind of see their point.

So KWGs argument is that a road would disrupt potential future mining in that area................ahhhhh ok, i'll bite. But a railroad wouldn't? But if this is true, why aren't they avidly drilling that "ubber rich" area? What if cliffs paid KWG to punch a few holes there? And what if they came up dry? What then? If they hit the motherlode, we would all see their point. It would be no different then if someone wanted to put a road on top of eagle 1, I wouldn't be impressed. But to sit and say that no one can cross their potential mining targets for fear of disrupting what could be a significant resource holds no water to me considering they have never bothered drilling it. And more importantly, somehow all these fears and concerns are magically gone if it's a railroad. Weird. Weak.

Let me ask everyone a question. How would we as Noront stakeholders feel about a road going across our land if it meant we could move forward? I think 99.9% of us would take it provided it wasn't across our already known resources. It would be worth the disruption to move forward and start mining E1. We all know that some of our land is "useless" anyways. So why is KWG so anti road? Could it be that KWG has no reason for a road as it would lead nowhere for them? This is all about money folks. KWGs only value is in the rail. Noront and cliffs value has already been proven, we just have to get it out. So SN, we agree on the above, for sure. This isn't a win for KWG or the area.

Where we disagree is your comment:

"This treding water will continue for several more years before there is any movement on infrastructure for the ROF."

I definitely disagree with this. Noront is moving forward with or without cliffs and KWG. I think we will see the E/W option come to fruition. This will put a ton of pressure on KWG and cliffs to some extent. There is a reason Noront has been quiet. And there is/was a reason for the big crosses a couple of months ago and a reason for the SP spike late august. The ROF infrastructure story is much closer than it appears IMHO. There is too much at risk not to make it work. Jockeying is all that is currently happening. Total and utter bull$hit in order to allow certain individuals/entities to strengthen their position. Good luck all.

djje

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