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: Momentum builds with Noront's ferrochrome facility; community introduction to be made shortly
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First out of the gate will be its high-grade Eagle's Nest nickel-copper-platinum group metals deposit, slated for production in 2024. That ore will be railed to Sudbury for processing at either Glencore or Vale.

The cash flow from nickel sales are earmarked for developing their chromite projects and to finance construction of the Sault ferrochrome plant.

Coutts said other sources of project financing are Resource Capital Funds, Noront's largest shareholder, and possibly from offshore through strategic partnerships and ferrochrome offtake agreements with Asian interests, such as in Japan.

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