BEING A SHAREHOLDER OF NORONT I WISH TO ASK FOR THE TIMELY RELEASE OF THE COMPANY'S NEW UP TO DATE FEASIBILITY STUDY TO FACILITATE THE TRUTH ABOUT THE VALUE OF THE COMPANY'S ASSETS.  SHAREHOLDERS WERE PREVIOUSLY INFORMED BY NORONT PRESIDENT AND CEO, ALAN COUTTS, BEFORE THESE TAKEOVER PROCEEDINGS THAT THIS STUDY WAS TO BE MADE PRIVVY TO ITS SHAREHOLDERS. THIS BEING SAID, IT IS NOW EXPECTED THAT SUCH A STATEMENT MADE BY OUR PRESIDENT SHOULD STILL BE HONOURED IRRESPECTIVE OF THESE TAKEOVER PROCEEDINGS IN LIGHT OF THE FACT THAT IT HAS NOW BECOME OF MATERIAL NEED.

BY NOT DISCLOSING THIS NEW FEASIBILITY STUDY THE COMPANY HAS PLACED SHAREHOLDERS AT AN UNFAIR DISADVANTAGE IN THESE TAKEOVER PROCEEDINGS. WITHOUT THIS INFORMATION MANY SHAREHOLDERS ARE UNKNOWNINGLY BEING PREYED UPON DISHONESTLY BY THOSE WHO ARE NOW ASKING SHAREHOLDERS TO TENDER THEIR SHARES WITHOUT ACCESS TO THIS UPDATE OF THE COMPANY'S NEW NET PRESENT VALUE. THIS IS WRONG. SUCH INFORMATION ABOUT THE CURRENT VALUE OF  NORONT'S ASSETS IS IMPERATIVE IF SHAREHOLDERS ARE TO EVEN CONSIDER SURRENDERING THEIR SHARES. BEGGING THE QUESTION AS TO WHY SHAREHOLDERS ARE BEING WILLFULLLY KEPT IN THE DARK BY THE VERY CEOs THAT CLAIM TO HAVE OUR BEST INTERESTS IN MIND. AGAIN. THIS IS WRONG AND MUST BE CORRECTED.

I FIRMLY BELIEVE SHAREHOLDERS HAVE LOST FAITH IN THEIR BOARD OF DIRECTORS, AND ARE NOW QUESTIONING WHETHER OR NOT WRONGDOING OR COLLUSION MAY BE INVOLVED. THESE THOUGHTS, IN MY OPINION, ARE WHAT IS NOW ERODING SHAREHOLDER CONFIDENCE IN THE NORONT BOARD OF DIRECTORS. ALL EFFORTS SHOULD BE MADE BY THE BOARD TO DISPELL THIS NOTION. NOT DOING SO COULD OTHERWISE LEAD TO THE POTENTIAL FOR A CLASS ACTION LAWSUIT TO BE TAKEN IN THE FUTURE.

A LAWSUIT WHICH COULD OTHERWISE  BE AVOIDED BY PROVIDING SHAREHOLDERS WITH THESE UPDATED DOCUMENTS OUTLINING THE COMPANY'S NET PRESENT ASSET VALUE. UNFORTUNATELY, THE VALUE SHAREHOLDERS EXPECT TO SEE IN THE COMPANY DOES NOT APPEAR TO BE REFLECTIVE IN THESE TAKEOVER OFFERS. DISCLOSURE OF THE UPDATED FEASIBILITY STUDY WOULD FIX THIS, AND ALSO HELP TO FORM A BASIS FOR A CLEAR AND INFORMED DECISION-MAKING PROCESS THAT MUST BE AFFORDED TO NORONT SHAREHOLDERS BEFORE ANY REQUESTS FOR THE TENDERING OF SHARES ARE MADE.

AGAIN, AS A SHAREHOLDER OF NORONT, I ASK THAT OUR COMPANY, NORONT RESOURCES, NOW RELEASE THE AFOREMENTIONED UPDATED FEASIBILITY STUDY AND PROVIDE US WITH THE TRUE VALUE OF OUR COMPANY. THIS IS THE ONLY WAY FOR US SHAREHOLDERS TO MAKE THE SORT OF INFORMED DECISIONS ABOUT THE TENDERING OF SHARES DURING THIS ACTIVE BIDDING PROCESS BETWEEN WYLOO AND BHP. BY DENYING SUCH INFORMATION THE COMPANY, IN MY OPINION,  HAS FAILED TO LOOK AFTER THE BEST INTERESTS OF THEIR SHAREHOLDERS, AND IN DOING SO HAS NOW BROUGHT THE SPECTRE OF MISTRUST AND DISHONESTY UPON THEMSELVES IN THE EYES OF THEIR INVESTORS.