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: Interest Payment

The average price of Noront share for the purpose of loan interest payment

is 33.45 cents.No Volume weighting done. If RCF opts to get paid in shares

instead of cash they will receive on 10 April/2016 1,200,000 shares of NOT,

give or take 50 K.

GLTA,

Fossil

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