Noront Resources

Hi All,

I logged in to check some email and was shocked at the number of posts. After reading through DonnyParks original post, I now know why.

Many of us on here (CrazyDik, DonyPee, Misfit, ... have been with this stock since pre-Windfall Hole 100 days. The share price back then was .18 cents and all noront had was a dream. Today we closed at .95 and we have a world class assets close to surface.

I have not shared this before but one thing that worried me back in December 2006 was the PP which saw the O/S go from 60 million to 105 million shares. I had posted several times that the naked shorting going on allowed the likes of Pinetree, Sprott, and others gain shares in Noront at .50 cents (with .75 warrants) at a time when we had hit a $1 just the week before.

At the time I worried that we had sold our souls but is was necessary to raise the money required to build the ramp. 22.5 million was raised in less than a week so with money in the bank Richard moved forward and built a ramp over the next 18 months.

Why are we so passionate about Windfall? It is not only because of the Gold. It is because it was the defining moment for all shareholders of this formerly 9 million dollar market cap company. The building of the ramp was the fulfillment of a dream. One that the original visionary may not even be able to complete given today's information.

My concern over those first few weeks was a hostile takeover. Within weeks we had a shareholder's rights plan that was finally ratified six months later in June 2007. But those plans deal with the external threat. Not from one within. It should be noted that ARU also had a very similar SRP to ours. Not sure how much this helped them recently.

The Eagle One discovery changed everything in August 2007. There is no doubt that the area is a significant future mining powerhorse. Just a year into the exploration and many companies are spending millions and millions in a hope of being a part of the big show. The show is real as the assay results don't lie. To many hits coming from too many difference areas and companies. Maybe not as fast as most like but then again this is the first summer most other companies have been out there.

I once pondered how a company would best launch a hostile takeover of NOT. My answer was: with a lot of time and patience.

The time to make a run at NOT was not when it was $7. I remember Michael from IBK was telling the Richmond Club that at $5 it was not too late to get in. The problem with that statement is the pros do not like getting in late at a higher price than everyone else. The funds have enough resources to widdle away at the share price day by day in order to drive prices lower into a range that suits their preference.

Take a look at the Buy and Sell pattern that Rousseau has posted in their circular. You will see that they bought then sold at a loss and then bought much more at a lower price. Especially the last six months.

Now that a perfect storm has brewed with the triple digit drops in the TSX-V, a perfectly healthy company is at risk of takeover. While some of the grievances that Rousseau brings up have crossed my mind at times, some are just not true. The 15 million destined for Windfall was required to be spent at Windfall due to the prior PP in December 2006. Some of that money was flow-thru and some based on tax concessions in Quebec. To say the money could and should have been easily transferred to McFaulds is just not true. I will tell you having just visited a 1000 foot ramp in California, it is the most effecient way to mine high grade gold. To suggest Windfall should have been dropped is in itself irresponsible as Gold has been at high levels the past two years and remains at high levels. That and the direct shipping of the ore for processing just 45 minutes away could have funded Double Eagle for years to come.

In this poor market, the vultures have gathered and are starting to take aim. This is a very serious event. For those who remember the movie Wall Street, there was a time in the 80s where investment bankers would buy undervalued companies and then shut them down and sell off the assets for a profit, leaving shareholders without full value and people without jobs. These men were called corporate raiders.

From what I have read in the circular, Rousseau is making a run at the company. Do you really believe they have your best interests in mind? I am not questioning their frustrations. I am questioning their ulterior motives.

Replace the existing board with a new one and I predict the following will happen:

The current staff with all of their current $5.18 cents stock options will be cleaned out. They will be replaced with Aurilean cronies.

The company will suddenly "need money". How does $100 million sound? That's 100M new shares at $1 a piece given recent pricing. How about 200M shares? Who will buy these? Rousseau perhaps?

Now your shares hold much less than half their value. Now control is fully over 50% on one side. Time for a sale perhaps? Likely already lined up. 230 million shares at $3 per share? $690 million. and an easy triple for the Rousseau folks. 300 million for a year's worth of work.

The timing for this is perfect for them. Our regular supporters Sprott and Pinetree have been taking a beating in the junior markets and are struggling to survive. The US investment banks have been beaten down so bad that no cash remains. And there are few buyers in this market meltdown.

Our only hope in all this is that this proposal gets enough nays to get shot down or that Richard finds a buyer in the next two weeks who wants to eliminate this possibility.

Here is how we can act:

1) Use the proxy votes as has been recommended by many of the regulars on here. Richard may not be perfect but he has been a straight shooter. I trust him with my votes.

2) Until the AGM, I propose that this topic dominate the board. Assays, theories, musings, US markets, elections, and the such are great in times of peace, but we are now at war. Let's use our combined resources to research and communicate what our options are and how we can best support the company at this time.

3) If possible, find somebody who knows somebody at a news outlet. Given that Noront is on the TSX-V's top 50 and #1 in mining, then this will make a good story. At the least it might alert a few majors what a small hedge fund is up to.

4) Save the calls to the office. Richard is likely not sleeping and my guess is that the team is in the War room as we speak. We can call him after the AGM.

5) Let's come up with some battle plans given different situations that play out. Plans Bs and Cs should this coup go through. What our our legal rights should dillition take place? There is a lot of experience on this board and the person who normally takes the time to talk to us retailers is being threatened. It is out time to do what we can to protect him and thus us.

6) The pros have already infiltrated the board and we and Agoracom may not be able to keep up as to who is legit or not as the paid pros try to mute our message. If needed, we may have to make plans via an alternative venue, but I promise the key message will always be brought back home to this forum.

7) Somebody please wake up sleeping CrazyDick. We need everyone on this. Additionally, let's put past differences aside.

I know it is a cliche but I am one shareholder who is not going to go out without my guns blazing. I am tired of seeing the little guy getting the shaft and I for one an unwilling to get the shaft as long as I hold shares in this company. In a world of shorting, cross selling, dumping, bashing, and the like, it is hard enough for the regular guy to make a go of most investments. To think somebody might steal away one of the best investments through an AGM raid, after the thousands of hours of research and discussions I have put into this stock is motivation enough to do all I can in the next two weeks.

The gloves are off. You don't mess with a Canadian and his money!

M1.