Date: Tue, 22 Jun 2010 16:01:42 -0400
To: Noront <http://agoracom.com/ir/Noront/forums/discussion/topics/426108-15-gain/messages/investor.relations@norontresources.com">investor.relations@norontresources.com>
Subject: News Needed.....bad
Hi JJ,
To say that Noront is beginning to dissapoint is putting it mildly.
Really, there must be something that can be said at this point for the multiple outstanding assays????
Do Noront have some ace up their sleeve only to be revealed...........When?
I know all the buzz words about patience etc, but JJ, our share price (and my investment) is floundering big time.
Can you please give me some idea of the game plan moving forward?
Thanks JJ, and tell me, are you as frustrated as I am?
Peter
Dear Peter,
We at Noront understand your concern and we assure you that the Company releases information once we have received, compiled and analyzed the data. We do not release visual results or incomplete results, nor do we release results on a hole by hole basis. Which, on occasion does cause us to hold drill results back so that we can release a number of drill holes simultaneously. We do not, as standard practice, prioritize or “rush” our samples as we are not the sole client of the assay facility where our samples are being analyzed.
Exploration drilling at McFauld’s Lake resumed in late March, largely on infill holes at Eagle’s Nest and AT-12. Deep drilling at Eagle’s Nest was delayed as previously disclosed in our Press Release dated May 30 due to mobilization of deep drills. Furthermore, we released results from Eagle’s Nest infill drilling in early June. This indicates a ten to twelve week lag between drilling and results which, given our suite of metals being assayed, is an acceptable time assumption. Also, I must remind you that we have just completed a successful equity raise which will allow us to keep drills turning on Eagle’s Nest and regional targets as well as assist in further feasibility and development and de-risking the project to the benefit of all stakeholders.
To date, our exploration efforts have recently more than tripled the resource base of the company and we are hopeful that we will again increase the resource base in the near future. This is true value. The new resource additions originate from an area previously believed to be barren of mineralization. While this resource increase has not, as yet, translated into tangible value, we expect that in the long run, our shareholders will derive tangible benefits from this discovery.
Best regards,
JJ
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Joanne C. Jobin
Vice President, Corporate Communications
