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: Letter from Jennifer Nemis

Letter from Jennifer Nemis

posted on Nov 06, 2008 10:28AM

Hello Fellow Noront Shareholders,

I have wanted to post a letter of thanks, but needed some time to collect my thoughts. It has been an emotional week.

I did not post here, for obvious reasons, but I have followed this board and I have been constantly amazed at the support, intelligence and dedication of all of the shareholders on this forum.

I would first like to take this opportunity to thank each and every one of you, for the enormous effort you all put in to win this proxy battle...and we DID win! I have never seen such coming together of the retail shareholder and I’m proud to have witnessed such efforts. Efforts that will inevitably, change the junior market landscape. You have all changed history, voting again will never be the same. The institutions have been slapped with a solid dose of retail reality. The assumption that retail won’t vote & their opinions don’t matter; I believe will be a thing of the past.

Thank you to Agoracom for giving Noront shareholders a balanced place to communicate and for your unwavering support of this fantastic company & its management. You have been instrumental in giving the little guy a voice, and a mighty loud one at that!! This was an unprecedented proxy vote. Thanks to ALL of you...YOU made it happen. Even though it feels like a huge loss... the deal that management made was indeed in the best interest of all of us. The fundamentals of this fantastic company have not changed. I believe that this IS, and WILL be, an incredible, history making find.

When I was a little girl, my dad would come home from the office carrying chunks of rock and core samples. My brother and I would dig through his pockets to see all of the shiny, rugged rocks.

On family trips to the camp... my brother and I would come across all kinds of different kinds of rocks and trying to impress our dad we would bring these little pieces of rock to him for approval.

Most of the time dad would reply.... that is “Leave ‘er right”..... “Leave er right? We would ask..... Yes kiddo..... Leave ‘er right there!!! Fool’s gold! It was then that we realized that this mining for gold thing was a lot harder that it looks. Do you know how much “leave er right” is around???!! Ha

My father grew up in Sudbury Ontario. His father worked very hard to build a life for his family and started Noront Steel. Grandpa Jim was an inventor, a visionary and a very hard working man. He designed the “snow bug” one of the very first snowmobiles in Canada. Grandpa instilled, in all of his children the importance of a solid, honest work ethic. If you work hard, play fair and honest, you can achieve anything you set your mind to.

My core belief and understanding of these principals have, to say the least, been shaken by this nasty proxy war. The tactics used by the hedge funds undermined my belief in working hard & honest to achieve your goals. Yes, I’m sad and angry that my dad didn’t get to see this through...his way. But I know that the decisions made, were made in all of our best interests. Making that deal preserved shareholder value. It preserved the progress and the relationships that Noront has been working so hard on for the last 5 years. A deal that was necessary in these uncertain economic times. This is the Noront that I know.

Dad, along with many of the “old school” boys in the mining industry got into this business for the excitement of the ‘find’. The spirit of mining, the excitement of the discovery, staking claims and taking lots of risks. Gold rush fever is what they called it! These guys believe that a discovery found is to be enjoyed by ALL, and not just a select few.

Dad passed along this message to us. Throughout the development of Noront Resources, a common theme played over and over again in our home. That theme was responsibility towards the shareholder and their investments. My dad has always cared tremendously about his shareholders. After all he would say... they are instrumental in all of the successes Noront achieves. Without them, there would be no great discoveries.

My brother and I are so proud of what dad has accomplished his integrity and honesty, his solid work ethic and his perseverance. He is and will always be our hero.

Dad is humbled and overwhelmed by the support of the many shareholders on this board, some of which have been with him for over 30 years.

This is a testament to his unwavering dedication to all of you; shareholders who he feels made this happen. Without them, there would have been no successes and no legacy to carry on.

No one could have predicted the economic climate that we are facing today and we may have to wait just a little longer to fully realize the potential of this find. I know that I’m hanging on...hanging on because I believe in what we have, hanging on because I believe in the power of the shareholders , hanging on because I have to believe that this new management wants to see success just as badly as we do, and hanging on because I believe in the tremendous efforts by management to bring this little junior company so far along, in such a short time.

Keep your eyes out... you haven’t seen the last of Dick Nemis. The excitement of the find is too powerful, and making people’s lives better, is the reward he gets out of all of this. He will be back!

Thanks to all of you for your support.

Keep the faith!

Jennifer Nemis

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