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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Drill testing of the UTEM 5 conductors will begin in late January

2016.

Noront is finalizing an amending agreement with its largest shareholder, Resource Capital Fund V

("RCF") to extend the term of its existing US$15 million convertible debenture and to satisfy the

repayment of the US$2 million bridge loan with RCF both of which are scheduled to mature and

become due and payable on December 31, 2015.

GLTA,

Fossil

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