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: RCF Ownership %
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RCF is the Company’s largest shareholder with an ownership interest of 20.26%.

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Above from Sedar April 25,2016 yearly report. Since RCF didn't take part in Prospectus

Financing their percentage actualy decreased from 21,24 % to 20.26 now.

And the interest on the Convertible Loan remains at 8% till the new maturity date

of March 31 ,2017. All this despite Noront detractors on SH calling for interest rates to

almost double to 15 % and ownership by RCF to jump to some 40%.

For full disclosures sake if RCF would convert the 15 Million loan today they would

receive 33,000,000 shares plus another 12 -13 million shares extra because of low

Canadian Dollar. That would bring their ownership to over 30 %.

GLTA,

Fossil

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