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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At the end of 2014 Noront had 240,525,697 shares issued.

Of those RCF ownership stood at 51,093,960 shares or 21.24 %.

Subsequent interest payment was made to RCF at the end of

first quarter of 2015 of 728,588 shares for a total of just under

52 Million shares. Updated total is 241,254,285 shares issued at

the end of first quarter of 2015.

BAO Steel ownership stands at just over 22.5 Million shares of

Noront, a bit under 10%.

GLTA,

Fossil

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