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: Amended & Restated Short Form Shelf prosp.

I don't think that Noront has officially said anything yet about chromite being a near-term priority. I believe the official position is still that further development (with respect specifically to chromite) will be set into motion once the nickel mine is up and running. Unless I missed sometime, I don't think Noront's chromite will be a focus for at least four to five years from now. But the good thing for Noront is that if the life of the nickel mine only turns out to be 11 or 20 years, the chromite will last much longer than that. And of course, there are so many other metals in the ground, that the possibilities are staggering. Of course, for the purpose of feasibility studies and economic analysis and permitting and everything else, it makes sense to focus on just the nickel.

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