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: Noront Resources Announces Issuance of Stock Options and

As the Majors are back on track and the boom continues, none of them can afford to leave the next Sudbury for granted. At this point divestments, as Cliffs, Vale, Glencore, BHP had to perform are no longer the top issue on the agenda. Although the commodity crisis took longer than expected, Mick never got the chance to get any of the disposed assets. He could have invested in any of the Majors to make a fortune for its clients, Cliffs at little over a dollar in Chapter 11, now well over 10. Would Not have sold the Chromite to anyone at this point. We do Not know what will be the turning point that the Majors will start to invest in the ROF greenfield, and none of them wants to have any other to take a competiive edge position in the ROF. When is the question, it will be the Majors or Chinese, Not Noront itself to develop the sites. Noront has been occupied too long to survive, which they did quite well. The ROF needs a Fresh view in line with current market circumstances. Wynne was right to be prepared for the next cycle, however she didn't or couldn't. It is crucial to step over the issues, share the deposit for some percentages with the FN, pay taxes and make it sustainable. Has been done so many times before, that it is Nothing new in the end. Two headlines are crucial, winter roads no longer enable transport of food and diesel to remote areas and the fact that with an all weather road, cost of living up North will decrease immensly. FN can benefit as never before from all weather roads if they want to keep their authentic way of living, cannot be done without a road. A Chinese railroad would do that job Not the same extent, distribution wise it would need to be connected with all weather roads from Eagle's Nest onwards. Both are fine, Alan should embraced the options ready to move.

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